Mr Cox
PS/Lord Caithness
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ные Hke 121
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FROM: T Furness
Hong Kong Department
DATE: 9 December 1991
cc: Sir J Coles
Mr Burns
Mr Bone
Mr Broadbent
Mr Ricketts
PROMOTION OF INWARD INVESTMENT FROM HONG KONG
A
1. In February, (Mr Paul's submission of 11 February refers), Lord Caithness agreed to a limited relaxation in our previous policy on inward investment promotion in Hong Kong which had been to discourage all high-profile
--
inward investment activity in Hong Kong by UK
government-funded agencies. This policy reflected concerns that such efforts could be misunderstood as an
attempt to exploit uncertainty about the future by drawing capital away from the territory.
2.
The current guidelines enable agencies to pursue normal promotional activities (holding inward investment exhibitions, seminars and receptions, and placing advertisements in the local press), provided they take care to avoid any political overtones and provided they consult the Invest in Britain Bureau in advance. Ministerial visits are judged on their merits, but it is likely that we would continue to recommend that Cabinet Ministers should not get involved in high-profile inward investment activities.
NESAAF/1
JRB
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