China-Portuguese Speaking Countries Cooperation Fund presented in Macau

A presentation session of the China-Portuguese Speaking Countries Cooperation and Development Fund and the investment framework for investment in Portuguese-speaking countries is due to take place on 25 January in Macau, organised by the Macau Institute for Trade and Investment Promotion (IPIM).

This session is co-organised by the Macau Economic Service, the Finance Services Bureau and the Macau Monetary Authority and support is provided by the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese-Speaking Countries.

The objective of establishing the Cooperation Fund, worth US$1 billion, is to support cooperation in investment between Chinese companies (including those from Macau) and those from Portuguese-speaking countries, providing guidance to Angola, Brazil, Cabo Verde (Cape Verde), Guinea-Bissau, Mozambique, Portugal and Timor-Leste (East Timor), for multilateral direct investment, increasing the overall strength of the investing companies and promoting the economic development of member countries.

The fund, which is currently headquartered in Beijing, will support companies from mainland China and Macau in expanding business abroad and opening new markets in Portuguese-speaking countries.

Last October, during the Fifth Ministerial Conference of Forum Macau, China’s Prime Minister Li Keqiang, announced the transfer of the headquarters of that Cooperation Fund to Macau, under a set of measures outlined by the central government to support the development of Macau.

In the statement that announced the presentation session, IPIM said the Macau government was coordinating the process of transferring the headquarters of the Cooperation Fund from Beijing to Macau.

The China-Portuguese Speaking Countries Cooperation and Development Fund was announced in Macau in November 2010 by the then Prime Minister Wen Jiabao at the 3rd Ministerial Conference of Forum Macau. (macauhub)