Designated IPIM personnel following up investment projects in Macao
In order to bring in more foreign investments that are conducive to the moderate diversification of Macao’s economic and industrial development, and foster economic recovery, on the foundation of the current service, the Macao Trade and Investment Promotion Institute (IPIM) has improved the Investor’s “One-stop Service” since the third quarter of 2020. IPIM has started organising “prior technical meetings” and reinforcing the interdepartmental co-operation, seeking to reduce the time required for the implementation of investment projects. IPIM has also designated personnel to continuously follow up implemented investment projects to provide support to craft Macao as an ideal place where investors can quickly launch and effectively maintain businesses.
To date, more than 30 “prior technical meetings” have been held. Participants included representative of a renowned medical enterprise and a tea beverage enterprise from Mainland China, who reported that the meetings help them learn more about what must be done before project implementation, facilitate the execution of investment project and shorten the time spent in preparation.
Designated Personnel Following up Investment Projects in Macao
Through the Investor’s “One-stop Service”, IPIM assigned personnel to provide assistance and more convenient services for people interested in investing in Macao, facilitating the implementation of their business in Macao. Respectively in 2020 and in the second quarter of 2021, IPIM followed up on 402 new investment projects, and assisted 294 enterprises to start business in Macao. The investment projects cover some of the key industries such as big health, modern finance, high and new technology, conventions and exhibitions, business and trade, and culture.
Learning Everything Needed via the “Prior Technical Meeting” Before Project Implementation
Before implementation, the personnel assigned by IPIM will assist investors in applying for licences and provide adequate information on Macao’s business environment, business incorporation formalities, and consultation services in regards to taxation and commercial legislation. Addressing the actual situation, IPIM will organise “prior technical meetings” for investors and licencing departments, and give professional advices to investors on technical problems they may encounter, and clarify the relevant administrative procedures, thereby expediting the implementation progress.
During Project Implementation, Enhanced “Investment Committee” Saves More Time for Investors
The Investor’s “One-stop Service” has also strengthened the interdepartmental co-operation within the Investment Committee, which comprises 12 government departments and institutions. During the process, the service helps to clarify the administrative procedures required for project commencement and execution, provide specific suggestions to investors and save them from submitting the same application documents to different government departments, reducing the time and enhancing efficiency. Representative of a Inn reported that the mechanism of the “Investment Committee” make it possible to quickly solve problems they encountered during the implementation, shortening the time spent in project implementation.
Regular Follow-up on Implemented Investment Projects
When the project is in operation, the personnel assigned by IPIM will follow up, evaluate and learn about the operations and provide assistance to meet their actual needs for further development in Macao, such as business expansion and market exploration. IPIM will also help organise business matching sessions with local enterprises, initiate more business negotiations with local SMEs and expedite the establishment of business connections with the local market to increase investors’ sense of attainment in implementing the project.
When the city was under the impact of pandemic, IPIM helped a local Medical company obtain the licence for face mask production within five months. In the meantime, through business matching, IPIM successfully facilitated the face mask sales contract between the company and some of the local large hotel resorts.
For enquiries, please contact IPIM’s staff members on (853) 2872 8328 or send an email to onestopservice@ipim.gov.mo. For more information, please visit IPIM’s website at www.ipim.gov.mo.