Delegation of Chinese and Macau businesspeople visits Portugal

28 May 2012

The former Chief Executive of the Macau Special Administrative Region (MSAR), Edmund Ho Hau Wah, is due to visit Portugal from 3 to 5 June heading a delegation of businesspeople from China and Macau, Portuguese financial daily Diário Económico reported.

Commenting on the mission’s trip to promote economic relations between Portugal and China, the president of Portuguese trade and investment agency AICEP, Pedro Reis, said that, “if China is crucial for opening up the Portuguese economy in the Asian marker, the Macau is certainly one of the important gateways to be used by Portuguese companies to enter the Chinese market.”

The delegation, which is due to arrive Sunday in Portugal, will visit just a few days after the conclusion of the process to sell a 25 percent stake in Portuguese national grid company Redes Energéticas Nacionais (REN) to the China State Grid Corporation.

Speaking to Portuguese news agency Lusa, Reis said that China’s investment in Portuguese companies that are undergoing privatisation opened up, “an avenue for growth and for the future.”

On the sidelines of a seminar on investment and cooperation opportunities in Portugal, the president of AICEP noted that the privatisation programme, “has gone very well for Portugal,” and that, “it is very important because its ensures the growth of those companies that are being privatised, attracts foreign investment to Portugal, as well as saving and capital,” and gave EDP and REN as “an excellent example.”

Reis added that the relationship with the Macau and China markets did not end with the Portuguese government’s privatisation programme and, noting AICEP’s interest in “working with more industries and more provinces in China,” said that, “Macau is the natural location for Portuguese companies and Guangdong province is certainly the next step.” (macauhub)