China-Portuguese Speaking Countries Cooperation Fund will be based in Macau in 2017

The installation of the headquarters of the Fund for Development Cooperation between China and the Portuguese-speaking Countries in Macau “is imminent,” said on Wednesday in Macau the executive member of the Macau Trade and Investment Promotion Institute (IPIM), Glória Batalha Ung.

Ung said that the process of transfer of the office of the Fund is subject to “administrative procedures and licenses” but stressed that it should be completed in 2017.

The official also said that the transfer of the headquarters of the Fund’s headquarters from Beijing to Macau will make it easier for local companies to obtain information on the Fund, the demand for funding for their projects and the development of the markets of Portuguese-speaking countries in cooperation with companies from China, while providing support to businesses in the Portuguese-speaking countries to participate in the “One Belt, One Road” initiative.

Ung, who was speaking to an audience of over 250 representatives of trade associations and local companies, said that all these factors will help to enhance the role of Macau as a financial services platform for economic and trade cooperation between China and Portuguese-speaking countries.

He said that even before the official installation of the headquarters of the Fund in Macau, IPIM already offered services to forward applications from local businesses, help in receiving documents and providing clarification as needed.

The Fund for Development Cooperation between China and the Portuguese-speaking Countries, announced in November 2010 by the then Prime Minister Wen Jiabao at the 3rd Ministerial Conference of Forum Macau, has an initial budget of US$1 billion. (macauhub)

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