Macau plans to invest in infrastructure in the neighbouring province of Guangdong

11 January 2018

The Macau government is considering investing part of its financial reserve in infrastructure projects in the neighbouring province of Guangdong, but the initiative is still under review, Economy and Finance Secretary Leong Vai Tac said in Guangzhou on Wednesday.

The Secretary, announcing the results of the Guangdong-Macau Joint Cooperation Conference, which analysed national development initiatives, particularly the “Belt and Road,” the 13th National Five-Year Plan and the Guangdong-Hong Kong-Macau Great Bay, added that the more concrete aspects and procedures had yet to be finalised, “with no set amount established for such investments.”

“Cooperation between the two regions is increasing, and this year will focus on the construction of Guangdong-Hong Kong-Macau Great Bay, youth and free trade, to increase innovation in joint cooperation and participate in development opportunities” in China, he stressed.

Leong Vai Tac also said that the relevant departments had signed agreements and memoranda on a number of areas, “which demonstrates a broadening and deepening of bilateral cooperation.”

The Secretary for Economy and Finance also referred to the signing of the “Framework Cooperation Agreement on the Joint Construction of the Traditional Chinese Medicine Innovation and Technology Zone between the Government of the Macau Special Administrative Region and the Zhongshan Municipal People’s Government.”

Leong Vai Tac recalled the existence of the Chinese Traditional Medicine Scientific and Industrial Park on Hengqin Island, but added that the development of the two did not clash, given that Zhongshan’s will include wider cooperation projects including traditional Chinese medicine, equipment and the respective medical techniques. (macauhub)