Secretary for Economy and Finance, Mr Leong Vai Tac (2nd right), is in Beijing to witness the signing of the memorandum of understanding.
The Government will make use of Macao’s ties with mainland China and the Portuguese-speaking countries to promote the development of the city’s traditional Chinese medicine (TCM) industry. The comments were made on Thursday (14 January) by the Secretary for Economy and Finance, Mr Leong Vai Tac, who was in Beijing to witness the signing of a memorandum of understanding (MOU) between the State Administration of Traditional Chinese Medicine and the Guangdong-Macau Traditional Chinese Medicine Technology Industrial Park Development Co., Ltd. The MOU represents a further step toward strengthening regional cooperation in the TCM field and offering new business opportunities for firms based in the Traditional Chinese Medicine Science and Technology Industrial Park of Cooperation between Guangdong and Macao, located on Hengqin Island, Zhuhai, Mr Leong said. Delivering a speech at the ceremony, Mr Leong said the MOU would create more favourable conditions for the development of Macao’s TCM industry, a key factor in promoting the diversification of economy. Macao’s strategic positioning as a commercial and trade cooperation service platform between China and the Portuguese-speaking countries will help foster the development of TCM in the countries and regions involved in the Silk Road Economic Belt and the 21st-Century Maritime Silk Road (known as the “Belt and Road” initiative). Mr Wang Guoqiang, Director of the State Administration of Traditional Chinese Medicine, also attended the ceremony said he hoped the Traditional Chinese Medicine Science and Technology Industrial Park of Cooperation between Guangdong and Macao could play an active role in promoting TCM internationally, leveraging on the official inclusion of Macao – by the State Council – in the “Belt and Road” initiative. Mr Wang additionally said he expected the Park to play an important role in training TCM professionals and enhancing product and service quality, to help diversify Macao’s economy. Construction of the Park is scheduled to be completed in the first half of 2017. Construction of the headquarters building and of facilities for quality control and research and development is progressing at a good pace. The Park management aims to establish a world-class quality control facility, and for the Park to become an exchange and trade platform for the healthcare sector. In addition, it is initiating discussions with representatives from Portuguese-speaking countries on issues related with international registration of trademarks, and import and export of TCM products. The Guangdong-Macau Traditional Chinese Medicine Technology Industrial Park Development Co., Ltd. is a joint venture between the Macao and Guangdong governments. It was established in 2011. The Park is currently the company’s sole investment project.