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ANNEX E
PRINCE OF WALES FUND FOR TRAINING IN NEW TECHNOLOGIES
BACKGROUND
CHRAAF
1.
A Hong Kong Government Working Party on Training in New Technologies was appointed in April 1988 to advise the HK Government on the need for and implementation of measures which would facilitate investment in manufacturing production that is dependent
In line with the Working on the absorption of new technologies. Party's recommendations, the HK Government has agreed to establish a training scheme in new technologies, which involves the creation of a revolving fund from which loans would be made to manufacturers to finance the training of their employees through local extension courses or overseas working attachments.
PROPOSAL
2. It is proposed that a fund called the New Technologies Training
The Working Fund should be established to administer the scheme.
Party estimated that a fund of HKD 34 million should be able to finance 200 traineeships a year (based on current deposit and inflation rates) and envisaged that this figure should be raised from the private sector and the HK Government.
3.
A British input to the scheme to double the size of the fund would increase the number of beneficiaries to 400, with a
correspondingly more significant impact on the local manufacturing
It would be a demonstration of British commitment to the
scene.
future of manufacturing industry in the territory.
The Governor has proposed that the fund should be established under the patronage of the Prince of Wales.
4.
No comments yet.
Private notes are available after approval.