TNAG-2478-FCO40-3608-Trade-relations-between-Hong-Kong--the-UK-and-other-countrie-1992 — Page 24

CONFIDENTIAL

For decision

on 16 April 1991

XCC(91) 62 Copy No...D

MEMORANDUM FOR EXECUTIVE COUNCIL

ATTRACTION OF QUALIFIED MANPOWER FROM OVERSEAS

THE PROBLEM

The

emigration

of professional,

technical,

administrative and managerial personnel has risen sharply in recent years. We need to encourage a greater number of these

emigrants to return to work in HK.

RECOMMENDATION AND ADVICE SOUGHT

2

3

(a)

(b)

(c)

It is recommended that

a joint venture

company should be established with the Hong Kong Institute of Personnel Management and other private sector interests to facilitate the recruitment of qualified manpower from overseas;

Government's participation in the joint venture should be represented by a $3 million contribution in the first year and by not more than two seats · on the company's board of directors; and

the extent of Government's future financial participation should be decided in the light of further developments.

Members will be asked to advise whether this recommendation should be approved.

BACKGROUND AND ARGUMENT

Background

4

Of the 62,000 persons who emigrated in 1990, 14,700 were in professional, technical, administrative and managerial occupations, representing 46% of working emigrants and 24% of all emigrants.

5

To counter this outflow, Government. strategy. It seeks to retain people throug

threefold

schemes such as

DOWNGRÅBED

CONFIDENTIAL