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Following is a speech by the Secretary for Trade and Industry, Mr Chau Tak Hay, at the Opening Ceremony of the New Factory of Wong's Circuits (PTH) Ltd in Tseung Kwan O Industrial Estate, today (Thursday):

Mr Wong, distinguished guests, ladies and gentlemen,

I am delighted to be here today to officiate at the opening ceremony of the Wong's Circuits' new factory.

I understand that the Wong's Group started back in the 1960's as a family factory making single-sided Printed Circuit Boards, or PCBs for short, for transistor radios. The Wong's Group has come very far since then. The new factory that we are in today occupies a site of 1.7 hectares. It houses modern automated equipment and will be applying the latest technology to produce PCBs. The annual production capacity will be about 2 million square feet of PCBs initially.

It is reassuring to see the Wong's Group's strong commitment to Hong Kong's manufacturing sector and its equally strong confidence in the long term potential of Hong Kong, which is symbolised by this US$85 million investment project. Such commitment and confidence are certainly well placed. The Government has long pursued an industrial support policy aimed at creating the most conducive environment for the development of industry and at maintaining a free, open and fair market.

As part of our industrial support programme, we have identified a site in Tuen Mun for the establishment of the fourth industrial estate. We aim to make available the first seven hectares of land by the end of 2001 so as to ensure a reliable supply of serviced sites to industries which cannot operate in multi-storey buildings. To facilitate the development of the PCB industry in particular, a PCB Technology Transfer Centre has now been set up at the Polytechnic University with funding support from the Government's Industrial Support Fund.

If Hong Kong is to maintain its role as an international trade and industrial centre, our industries have to move up the value-added and technology ladder. Today we see before us an excellent example of how well our industrialists have been doing in meeting this challenge.

I look forward to the continuing contribution by the Wong's Group and other companies in the electronics as well as other fields in enhancing the competitiveness of Hong Kong's industries. May I take this opportunity to congratulate Wong's Circuits (PTH) on the opening of this factory and to wish it continuing success in the years to come.

Thank you.

End/Thursday, July 16, 1998

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