The Macau government will actively support future projects in the Hengqin area as part of the creation of the Guangdong Free Trade Zone, the Macau Secretary for Economy and Finance, Leong Vai Tac said Thursday.
The Secretary for Economy and Finance who was speaking during the opening ceremony of the Hengqin area said the area, covering 28 square kilometres (roughly the same area as Macau), will help to make Macau a “centre and a platform” for economic relations bringing gains to the special administrative region.
“Macau will, no doubt, make use of its advantages, together with Hengqin, Zhuhai, to drive the modernisation of the business climate in the free trade area to contribute to implementation of pilot projects under the reform and the opening of China and participate in the construction of the ’21st Century Maritime Silk Route’ seeking to increase Macau’s competitiveness,” said Leong Vai Tac.
In a statement, the Macau Government Information Bureau reported that the Secretary for Economy and Finance said the government would make efforts to boost cooperation at all levels between Guangdong and Macau, particularly in the implementation of Macau-Hengqin cooperation projects and to set up conditions to develop Macau’s small and medium-sized companies
During the ceremony, Macau and Zhuhai signed a protocol establishing the mechanisms for cooperation between them for development of the new area where more than 8,400 companies have registered to do business.
On Tuesday China launched three more Free Trade Zones (FTZ), located in Tianjin, Guangdong and Fujian. The decision came two and a half years after the establishment of China’s first FTA in Shanghai.
The Guangdong Free Trade Zone has an area of 116.2 square kilometres and includes the districts of Guangzhou (capital of Guangdong Province), Shekou in Shenzhen, near Hong Kong, with an area of 28.2 square kilometres and Hengqin, in Zhuhai, which will focus on cultural and educational projects. (macauhub/CN/MO)