Traditional Chinese medicine park to be managed in consortium by Macau and Guangdong province

6 September 2010

Macau, China, 6 Sept – The Macau government is to set up a consortium with the Chinese province of Guangdong to explore and manage the Traditional Chinese medicine Scientific and Industrial Park, which is due to start operating in three years’ time, a spokesman said Friday.

Alexis Tam, coordinator of the park and government spokesman, said that the partnership, the first established with Guangdong, would be 51 percent owned by Macau and 49 percent by neighbouring Guangdong province.

Tam also said that preparatory work for the facility was going well and that building work could move ahead as soon as the Framework Agreement for Guangdong/Macau Cooperation was approved by the central government, which was expected to happen by the end of the year.

The preparatory office for the park has a budget of over 14 million patacas and work has begun on leasing the land, acquiring equipment and recruiting staff.

Tam also said that Guangdong province had already set up a company to be part of the consortium, with The Macau government in the process of creating its own company, “which is expected to happen this year.”

The Chinese Traditional Medicine Scientific and Industrial park will be located on Montanha Island, a region under the administration of Zhuhai municipality. (macauhub)