TNAG-2140-FCO40-3059-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-1990 — Page 63

香港總督府

DIL

Daviwa WILD VIL

MOMO

bcc SES

GOVERNMENT HOUSE

HONG KONG

23 March 1990

I said that I would let you have a note on our Port and Airport Development Strategy. I am now enclosing this. I hope you will find it useful.

As I mentioned when we last met, we have gone to great lengths, in the planning of these major developments, to examine carefully both the physical and financial aspects of the plans. You will see from the note that eight major consultant studies were undertaken before the plans were announced. As an example of the detail covered by these studies, you might be interested to see the attached copy of the Final Report produced by the consultants on the Port and Airport Development Strategy.

I see these major infrastructure projects as being of great significance in providing for Hong Kong's future prosperity. Without them Hong Kong's further economic growth would be severely restricted. Carrying out such major schemes is inevitably expensive.

What

is sometimes not realised is that inaction, and failure to build for the future, is even more expensive in terms of curtailing the growth of the economy.

In carrying out these plans we have no intention of running down Hong Kong's reserves to an unacceptable degree. As you will see from the note, we expect to attract very sizeable private participation in the projects both in the form of loans and equity from the local and international markets. China's support for such long term projects will certainly help to launch them successfully and to build up a secure economic foundation for the future Special Administrative Region.