Representatives from IPIM and the Economic Development Bureau of the Co-operation Zone introducing GBA enterprises to Macao-Hengqin business advantages
In line with the “1+4” development strategy for appropriately diversified economy and Macao-Hengqin joint industrial development, and in order to constantly strengthen the external investment promotion, the Commerce and Investment Promotion Institute (IPIM) of the Macao Special Administrative Region and the Economic Development Bureau of the Guangdong-Macao In-Depth Co-operation Zone in Hengqin (the Co-operation Zone) conducted visits to 16 key enterprises which including well-known listed companies and foreign-invested companies in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in August to promote Macao-Hengqin business advantages, including Foshan, Huizhou, Dongguan, Jiangmen, Zhaoqing and Hong Kong. Since its restructuring on 1 July, IPIM and the Economic Development Bureau of the Co-operation Zone has conducted key investment promotion work in a total of 26 enterprises and chambers of commerce in nine mainland cities in the Greater Bay Area and Hong Kong.
Visiting 16 Key Enterprises in 6 Major Industries to Attract Investment
The enterprises that the joint investment promotion team visited are mainly from the major industries, such as traditional Chinese medicine big health, high technology, financial services and fin-tech, catering and retail, some of them including well-known listed companies and foreign-invested companies. The customised information about Macao-Hengqin business market and the support services for opening businesses in Macao-Hengqin were introduced to these enterprise according to their international business layout and development.
Macao-Hengqin Positioning Approved by Key Enterprises for Expanding International Market
The enterprises all recognised the attractiveness of Macao-Hengqin business environment. Facing the ever-changing international business environment, they need to re-position their business layout more pro-actively. After exchanging with the investment promotion team, they learned about the advantageous policies and started to make plans to take advantage of Macao-Hengqin business environment to expand the international business opportunities, through gradually exploring overseas markets such as Portuguese-speaking countries, Southeast Asia, Europe and the United States, so as to enhance their competitiveness in the international market.
A large enterprise engaged in the traditional Chinese medicine and health industry in Huizhou stated that Macao’s simple and low tax system, recent initiatives for traditional Chinese medicine activities, and the registration laws for traditional Chinese medicine products, as well as platforms connecting to international markets, are very attractive for business expansion. The company plans to establish a presence in Macao to expand its products into both the Macao and overseas markets, leveraging its own advantages to collaborate with local health enterprises in Macao for the supply and processing of raw materials related to traditional Chinese medicine production.
IPIM Representative Offices in Mainland Leverage Their Connections to Attract Investment to Macao
At present, IPIM has six representative offices in mainland China, including Hangzhou, Chengdu, Shenyang, Fuzhou, Guangzhou and Wuhan. Taking advantage of the local connections established by these offices, IPIM has facilitated the investment promotion work to attract mainland enterprises to invest in Macao. Among them, the Guangzhou representative office in the Greater Bay Area deals with the operations in southern China, which has extended the service functions of IPIM. Since January 2023, the Guangzhou representative office has introduced 36 investment proposals, of which 22 projects have implemented in Macao, involving industries such as big health, modern financial services, high technology and cultural tourism. IPIM will continue to actively promote Macao’s business environment and continue to optimise the business policies and services. In the future, IPIM will attract more companies to invest in Macao to promote the appropriate diversification for Macao’s economy.
