TNAG-2478-FCO40-3608-Trade-relations-between-Hong-Kong--the-UK-and-other-countrie-1992 — Page 47

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Mr Archer PS/Mr Patten

LETTER TO MR P SHORTALL:

1.

FROM:

DATE:

CC:

M. Stane

Jer info:

J T Fraser

Republic of Ireland Dept

18 May 1992

Mr Greenstock

Mr Furness, Hong Kong Dept

1915

food, dea 15

Mitch #over

to the IDB

19/3

INVESTMENT IN NORTHERN IRELAND

Mr P Shortall, a businessman in Londonderry, wrote to Mr Patten on 27 April seeking assistance in finding potential investors from the electronics industry in Hong Kong for a development site in Londonderry

2.

I recommend that Mr Patten's Private Secretary reply on

the lines of the attached draft. The Industrial Development Board for Northern Ireland (IDB) and the Invest in Britain

Bureau (DTI) concur.

3.

The IDB confirm that Mr Shortall is in touch with them about the funding of a 3,000 sq metre building which is to form the core of a science and technology park on a 10-acre site he

owns in Londonderry. The IDB are keen to encourage such private sector development and are prepared to contribute up to 50 per cent of the total development cost of certain projects. I understand that some problems have still to be resolved in this case, and that Mr Shortall has jumped the gun in proceeding, at his own risk, with the infrastructure services and the erection of steelwork before funding arrangements with

his bank and with the IDB were completed. Despite this, the IDB are content for their representative in Seoul (who covers Hong Kong) to seek potential investors for the site.

ID 3190