The modernisation of São Tomé airport will be “one of the major projects since independence” of São Tomé and Príncipe and will boost tourism, the ambassador of the People’s Republic of China Wang Wei said in an interview due to be published in Macao Magazine in September.
Most African countries, including the Portuguese-speaking ones, have been facilitating the entry of Chinese citizens in their respective territories, the aim being to increase investment and tourism, indicates a study by the Migration Policy Institute
China is a “very important partner” for São Tomé and Príncipe, particularly for “structural projects” such as the airport, new port and housing, São Tomé’s Prime Minister told Macauhub.
Technical studies for the revamp of São Tomé International Airport, whose limitations make it one of the country’s bottlenecks, are almost complete. The most delicate part, financing, is still being worked out. Prospects are more complicated for another Chinese-built major infrastructure, the deepwater port.
The São Tomé Trade and Investment Promotion Agency (APCI) will follow up on potential deals that resulted from the meeting of entrepreneurs from China and Portuguese-speaking countries, said the director of the São Tomé and Príncipe agency.
Art has been around for at least 10,000 years. It has taken many forms, from paintings on cave walls to dead sheep suspended in formaldehyde. But, whatever the medium, age and location, one thing is for sure: you can tell a lot about a culture when you look at its art. As the late anthropologist Claude Lévi-Strauss said, objects matter.
The diversification of Macau’s economy centred on relations with Portuguese-speaking countries is essential if the territory is to find its place in the Greater Bay Area, said the chief executive of Banco Nacional Ultramarino (BNU).
China is involved in eight port projects, which have either been completed or announced in Portuguese-speaking countries, as a construction company or through funding, according to a recent survey by the Center for Strategic International Studies (CSIS).
The ports of Mozambique, Angola and São Tomé and Principe will be linked to the Chinese “´Belt and Road” initiative, which will have a “central hub” in East Africa, wrote researcher Paul Nantulya.
The Portuguese-speaking countries (PSCs) will play a key role in the future of Macau outlined in the Greater Bay Area (GBA) Plan of the Central Government of China.
The African Development Bank (AfDB) recommends coastal African countries, including Portuguese-speaking countries, to expand port infrastructure as a means of improving integration on the continent.
Cabo Verde (Cape Verde) is in the top three countries in sub-Saharan Africa with the highest quality public policies and institutions, according to a list drawn up by the International Development Association (IDA) of the World Bank Group.
Economic relations with Africa have been losing importance for Brazil’s governments, which ignore the continent’s potential, unlike China and other emerging economies, according to the Brazil-Africa Institute.
Macau’s Banco Nacional Ultramarino (BNU) is looking to increase support for the more than 40,000 small and medium-sized enterprises (SMEs) in the territory, said Carlos Cid Álvares, the bank’s chief executive told the Tribuna de Macau newspaper.
Since China became Africa’s largest trading partner in 2009, trade has continued to flourish, aided by cooperative frameworks put in place by the Chinese government and its African counterparts. The momentum is expected to build over the medium term, and the Beijing Summit of the Forum on China-Africa Co-operation in September is likely to help ensure that these increasingly close economic ties become even closer.
Five of the six Portuguese-speaking African countries are on the list of 44 states that have subscribed to the African Continental Free Trade Area (AfCFTA) project, which received a generally positive reception from civil society.
Trade between China and the Portuguese-speaking countries has increased 11-fold since Forum Macau was set up in 2003, and the Forum has played a “very important role” in Chinese globalisation, said China’s Deputy Minister of Commerce.
China’s direct investment in Portuguese-speaking countries has reached US$$50 billion, Macau Forum Secretary-General Xu Yingzhen said in an interview with local Portuguese-language newspaper Tribuna de Macau.
São Tomé and Príncipe, Guinea Bissau and Cabo Verde (Cape Verde), the three smallest Portuguese-speaking African economies, are expected to see economic growth in 2018 well above the average for the sub-Saharan Africa region, according to the latest forecast from the International Monetary Fund.
Business projects involving China and Portuguese-speaking countries have been receiving official Chinese funding, but the deepening of this cooperation in the “era” of the New Silk Road requires innovative financial mechanisms, the president of the Fund for Cooperation and Development between China and the Portuguese-speaking Countries said in Lisbon.