Macau Legend Development considers investments in São Tomé and Príncipe

Macau Legend Development Ltd. may invest in São Tomé and Príncipe, particularly in infrastructure, agriculture and tourism, company CEO David Chow Kam Fai said on Thursday in São Tomé.

Chow admitted this possibility at the end of separate hearings with Prime Minister Patrice Trovoada and with the Minister of Economy and Finance, Américo Ramos, to whom he expressed his interest in investing in the archipelago.

“We have received some government proposals to invest in the country and we will analyse them,” said the Macau Legend Development CEO, referring to deepwater port construction projects valued at about US$800 million and modernisation of the airport estimated to cost over US$35 million.

“The government presented a plan for the airport and air transport and the deep-water port project as the country’s priorities,” said Chow, who added that these two projects are now being analysed.

Macau Legend Development’s interest follows that of other Chinese companies that have expressed a similar intention to the Sao Tomean authorities following the resumption of diplomatic relations between China and São Tomé and Príncipe on 12 December 2016, replacing Taiwan.

Chow’s company is investing about US$250 million in Praia, the capital of Cabo Verde (Cape Verde), in the construction of a tourist complex on Gamboa/Ilhéu de Santa Maria, which includes a hotel, marina with capacity for 20 to 30 recreational boats, a convention centre and casino. (macauhub)