Minister of State for the Ministry of Trade and Industry of Singapore, Low Yen Ling (6th to the left) and Singapore Food Manufacturers’ Association President, David Tan Lye Hock (5th to the left) visit the Macao exhibition area
The Macao Trade and Investment Promotion Institute (IPIM) organized 17 Macao enterprises to attend the “Singapore Food Expo 2023” on 21-24 July. Some of the exhibitors applauded on the event for the number of visitors and their spending power, as they sold more than half of their products on the second day of event. Some of the exhibitors were surprised by the Singapore Livestream Shopping platform, which enabled them to sell dozens of products in just a few seconds. Cheered by the good quality and competitive price of Macao’s products, some of the distributors simply purchased the whole batch of products and planned to develop long-term co-operation with the relevant Macao exhibitors. It reflects that the “Made in Macao” and “Macao brand” products have gained recognition and positive feedback from the local, thus the enterprises will increase their efforts to further expand the ASEAN market.
Organised by the Singapore Food Manufacturers’ Association (SFMA), the Singapore Food Expo has been held since 2000, which is a mega exhibition of local food, providing a platform for food display, sales and commercial exchange. This year’s Expo took place at the Singapore Expo. With the support and assistance of the Industrial Association of Macau (AIM), IPIM organized Macao enterprises to make their debut at the Expo and showcase diverse products such as Macao’s delicacies souvenirs, food products, coffee, beer, tea, instant soup and healthcare products.
Agreement signed by SFMA and AIM to jointly facilitate trade co-operation
SFMA and AIM signed a co-operation agreement on the first day of the Expo (21 July), hoping to jointly facilitate future trade co-operation and exchange business intelligence. The signing of the agreement was witnessed by Minister of State for the Ministry of Trade and Industry of Singapore, Low Yen Ling and IPIM President, Vincent U.
IPIM President, Vincent U expressed the desires to promote the business environment of Macao and Hengqin by participating in this food industry professional exhibition, and introduce the enterprises in Singapore and ASEAN to the new pattern of Macao-Hengqin synergistic collaboration and new opportunities for regional co-operation. IPIM will continue to help investors develop diversified business markets by organising Macao enterprises to participate in the mainland and overseas MICE events.
AIM President, Chui Yuk Lum remarked that various Macao products have a certain competitive edge in Singapore due to their quality, taste and price. It is hoped that Macao enterprises’ active participation in such professional marketing displays will help them “go global” and further promote Macao products to the neighboring countries and regions.
SFMA President, David Tan Lye Hock said that this year’s Expo has invited renowned food manufacturers from Macao to present delicious food to visitors and traders, and also provided a platform for peer companies to promote their products; moreover, the co-operation agreement signed with AIM is expected to further enhance the communication among food practitioners as well as the exchange and cooperation in global development strategies and trade business.
Collaborative booth of Macao and Hengqin to actively promote investment opportunities
IPIM and the Economic Development Bureau of Guangdong-Macao In-Depth Co-operation Zone in Hengqin set up booth to jointly promote the new pattern of Macao-Hengqin synergistic development and favorable business environment, and to introduce the series of services of IPIM, including business consultation, exhibition development and trade promotion events, aiming to acquaint the Southeast Asian visitors and traders with the investment opportunities and development prospects in both Macao and Hengqin.
Meeting with Singapore Chinese Chamber of Commerce and Industry on economic investment co-operation
During the mission, IPIM representatives visited the Singapore Chinese Chamber of Commerce and Industry and introduced board member of SCCCI, James Ow Chin Seng to the business environment of Macao and Hengqin and discussed co-operation opportunities, in a bid to enhance ASEAN industries’ understanding of the economic developments of Macao and Hengqin, foster the bilateral economic co-operation between the two places and explore business opportunities.
