Macau, China, 9 July – The Macau government plans to invest an initial 600 million patacas (US$75 million) in setting up a centre for traditional Chinese medicine on Hengqin Island, facing Macau, a government spokesman said Thursday.
Alexis Tam Chon Weng said that the future Scientific and Industrial Park of Traditional Chinese Medicine (PCIMTC) would be located in an area of half a square kilometre on Hengqin island, in Zhuhai municipality, and may be concluded in a year and a half.
The park aims to be a centre for research and development of the Chinese medicine industry on an international level.
The park is also planned as a medical health centre.
Alexis Tam, who will be the park’s director, also said that the PCIMTC was part of the joint cooperation and development plan drawn up by Macau and by Guangdong province, which is due to be approved in the next month or two by the Chinese central government.
As part of the cooperation plan, Guangdong will supply the land for construction of the park and technology for research, whilst Macau will provide funding for its construction along with human resources.
A new campus for the University of Macau is currently being built on Hengqin island on a plot of land of one square kilometre, which has been rented from Zhuhai by the Macau government. (macauhub)