From 14 to 17 March, the Macao-Hengqin Investment Promotion Delegation (“the delegation”) held five promotion seminars in Singapore, namely, a large investment promotion seminar, a high-tech industry promotion seminar, a big health industry promotion seminar, a key enterprises promotion conference and a Macao-Hengqin MICE promotion seminar, attracting representatives from over 140 Singapore enterprises. During their stay, the delegation visited some of the local key institutions and enterprises to attend investment promotion sessions. With the emphasis placed on the development directions of Macao-Hengqin key industries, the delegation sought co-operation after a more specific goal, and explored how to better leverage the opportunities arising from the Macao-Hengqin integrated development, so as to conduct international co-operation in industrial and innovation chains.
Enhancing mutual understanding and trust
As a top investment destination for China, Singapore has been China’s largest foreign investor since 2013. Singapore’s manufacturing sector contributes more than 20% of the country’s GDP, especially with cutting-edge competitiveness in the fields of electronics, machinery manufacturing, petrochemicals and biomedicine. As one of the pillars of the Greater Bay Area, Macao is a free port with a highly-open international economy, while Hengqin is a new development platform for Macao to nurture the appropriate diversification of its economy. Adhering to the “1+4” appropriately diversified development strategy, Macao gives priority to the development of the four key industries in the Guangdong-Macao In-Depth Co-operation Zone in Hengqin (“the Co-operation Zone”). As a result, Macao, Hengqin and Singapore have good conditions and advantages for their co-operation and development in the sci-tech industry, health industry, tourism industry, MICE industry and other sectors.
At the large investment promotion seminar with more than one hundred participants, Meng Fanqiu, Council Member of Singapore Chinese Chamber of Commerce & Industry, Council Member of Singapore-China Business Association, Honorary President of China Enterprises Association (Singapore), expressed the hope that this promotion conference would facilitate exchanges and interactions, enlighten entrepreneurs on active exploration of the opportunities arising from Macao-Hengqin investment and development with an open mind, and consolidate their strengths to bravely achieve further globalisation.
Deputy Director of the Executive Committee of the Co-operation Zone Su Kun said that the government had launched a variety of supporting policies and incentives for Hengqin in terms of industrial development and market access, aiming to create a business environment similar to that of Macao and promote international business matching. It is hoped that the participants will enhance mutual understanding through promotion events, so that the Singaporean business sector can learn more about the economic vitality, innovation power, charm of the region and investment potential of Macao and Hengqin.
President of Macao Trade and Investment Promotion Institute (IPIM) Vincent U demonstrated Macao’s investment environment and the Macao-Hengqin development opportunities to the participating Singapore enterprises and guests. Director of the Economic Development Bureau of the Co-operation Zone António Lei introduced the preferential policies and business environment of Hengqin. Since the industrial development in Hengqin is highly compatible with the key industries in Singapore, Singapore enterprises can use Macao-Hengqin as an investment window to expand their overseas markets and conduct in-depth industrial development in the Greater Bay Area.
With great attention drawn to the Macao-Hengqin investment opportunities and the related policies, many representatives of the participating enterprises expressed their intention to start business in Macao and Hengqin. They said that they had a brand-new understanding of Macao-Hengqin business environment and development opportunities, and looked forward to the chances for further co-operation and business exchanges with Macao and Hengqin.
Continuous efforts through precise investment promotion
During this trip in Singapore, the delegation successively visited the Enterprise Singapore, Singapore Raffles Medical Group, Goray Group and other institutions and enterprises, pro-actively introduced Singapore enterprises to Macao-Hengqin investment environment, conducted in-depth discussions on industrial co-operation in sci-tech and big health sectors, and encouraged the Macao-Hengqin industries to “go global”, and “bring in” the competitive industries from Singapore.
In addition, to continuously facilitate the globalisation of the MICE industry and fully leverage the advantages of “multi-venue events”, IPIM and the Economic Development Bureau of Guangdong-Macao In-Depth Co-operation Zone in Hengqin jointly organised the “Macao-Hengqin MICE Promotion Seminar (Singapore)”, to promote the advantages of Macao-Hengqin MICE hardware and software facilities to around 40 potential MICE industry players and event organisers in Singapore, and arrange business matching sessions between Macao-Hengqin MICE enterprises and their Singaporean counterparts. Singing high praise for the precise and effective business matching, the participating enterprises have made initial progress in the meetings.
The delegation is composed of the representatives from the Executive Committee of the Co-operation Zone, IPIM, the Economic Development Bureau of the Co-operation Zone, and enterprises in Macao and Hengqin, including Deputy Director Fu Yongge, Deputy Director Su Kun of the Executive Committee of the Co-operation Zone; IPIM President Vincent U; Director António Lei, Deputy Director of the Economic Development Bureau of the Co-operation Zone Zhang Ge; as well as the representatives from the MICE industry and business associations of Macao, and Macao-Hengqin MICE sectors.