Secretary Leong Vai Tac (fifth on right) and a delegation from Chia Tia Group in a group photo
The Secretary for Economy and Finance of the Macao SAR Government, Leong Vai Tac, met several days ago with a delegation led by Senior Vice-Chairman of Chia Tai Group and Chairman of the CP Pharmaceutical Group, Xie Bing having both sides discussed and exchanged in-depth views in respect of strengthening Macao’s adequate economic diversification.
During the session, Xie Bing presented the development of Chia Tai Group in recent years, having noted that, presently, the Group has reached a preliminary agreement with the Industrial Park on mutual cooperation and is working actively in preparation for its settlement in the Industrial Park. Meanwhile, he expressed his expectation that the company could participate in the development of Macao’s adequate economic diversification by contributing its high-tech resources such as in the fields of biomedicines, new materials, financial technologies, and Big Data applications. Currently, Chia Tai Group has established two subsidiaries in Macao to launch its business operations.
In turn, Secretary Leong Vai Tac noted that the intention expressed by Chia Tai Group’s in participating the development of Macao’s adequate economic diversification, is in articulation with Macao’s development direction, in a sense that Macao is part-taking in the Guangdong-Hong Kong-Macao Greater Bay Area construction and the ‘Belt and Road’ Initiative, by acting in line with the needs of the Mainland and the virtues of Macao, in straight regional cooperation with the sibling-provinces, municipalities and cities of the Mainland. Still, the Industrial Park, being one of the integral parts of such efforts to promote Macao’s adequate economic diversification, it is hopeful that Chia Tai Group makes good use of Macao’s institutional advantages, such as its positioningas a commercial and trade cooperation service platform between China and Portuguese-speaking Countries, The Mainland and Macao Closer Economic Partnership Arrangement (CEPA),low financing costs, member of the World Trade Organization (WTO), an autonomous customs territory, among others – such factors that enhance the development of a larger number of projects on technological innovation and advanced materials to be developed and more companies’ regional headquarters to be established in Macao.
