CONFIDENTIAL
076710 MDLIAN 9284
INVESTMENT ESPECIALLY IF UK AGENCIES TAKE ADVANTAGE OF THE REVISED GUIDELINES TO ADOPT A HIGHER PROFILE. THERE IS ONLY VERY LIMITED KNOWLEDGE ON THE PART OF POTENTIAL MANUFACTURERS OF THE IMPLICATIONS OF 1992. SOME WELL-ORGANISED SEMINARS COULD HELP
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ALL REPRESENTATIVES WOULD WELCOME THE EASING OF THE RESTRAINTS BUT WILL BE REALISTIC ABOUT WHAT IT MEANS IN REAL TERMS. THE MOST BENEFIT MIGHT BE GAINED BY IDB (FOR AS LONG AS THEY STAY) SINCE THEY COULD COUNTERACT SOME OF THE FEARS, AND PRESENT A MORE BALANCED IMAGE OF THE BENEFITS IN NORTHERN IRELAND, IF ALLOWED A SLIGHTLY HIGHER PROFILE.
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DESPITE THIS OVERALL LACK OF ENTHUSIASM AMONG THE REGIONAL INWARD INVESTMENT AGENCIES, AND THE VIEW REFLECTED IN YOUR TUR, I REMAIN RELATIVELY OPTIMISTIC ABOUT THE PROSPECT OF ATTRACTING AT LEAST SOME WORTHWHILE INWARD INVESTMENT FROM HONG KONG. THERE ARE MORE OPPORTUNITIES I AM SURE THAN ARE OFTEN SUPPOSED. JUST THIS WEEK T T TSUI, THE OWNER OF CITY BUS IN HONG KONG, HAS TOLD ME HE HAS JUST BOUGHT A BUS COMPANY OPERATING IN LONDON. WE KNOW OURSELVES OF SEVERAL OTHER RECENT INVESTORS, OR THOSE THINKING ABOUT BECOMING SO. MANY MAKE THEIR MOVES ENTIRELY THROUGH PRIVATE CHANNELS, UNBEKNOWN TO US OR THE REGIONAL INVESTMENT AGENCIES. THE MOVEMENT MAY BE SMALL COMPARED WITH OTHER PLACES BUT IT IS NOT A NEGLIGIBLE PROSPECT.
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IN PRACTICE THE MODEST CHANGE IN RULES PROPOSED WILL PROBABLY LEAD TO A HEIGHTENING OF INTEREST IN ARRANGING SEMINARS (WHICH WE WOULD SUPPORT) PERHAPS A FEW RECEPTIONS, AND AN OCCASIONAL ADVERTISEMENT, BUT COSTS AND POTENTIAL RETURNS WILL BE STUDIES VERY CAREFULLY BY HEAD OFFICES. SINCE THE POTENTIAL IS NOT PERCEIVED TO BE VERY GREAT THE EFFORT IS NOT LIKELY TO BE EITHER VERY GREAT NOR VERY PROMINENT.
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