Macau government creates export credit insurance system

24 November 2016

The Macau government plans to create an export credit insurance system, said on Wednesday the Secretary for Economy and Finance, who added local entrepreneurs with businesses linked to the Portuguese-speaking countries have called for the system to be set up.

At the end of a meeting of the Standing Committee of the Legislative Assembly, which is discussing the budget for 2017, Lionel Leong said the scheme will be implemented “as soon as possible,” according to Portuguese-language newspaper Tribuna de Macau.

The secretary said the government will also “consider a financial support plan, through which it can allow Macau or mainland China companies involved in trade with Portuguese-speaking countries to maximise benefits, as part of their activities in Macau.”

Stressing that he considered the existence of an insurer under this export credit insurance scheme important, he gave assurances that contacts had already been initiated with companies and entities, and the government hopes that these contacts will succeed in 2017. (macauhub)