Guangdong to deepen comprehensive economic ties with Macao

“Guangdong will deepen comprehensive economic and trade exchanges and cooperation with Macao, promote a market-oriented and law-based international business environment, improve foreign business investment policies, and further facilitate trade and investment, so as to provide stronger safeguards and better services for businesses,” said Chen Yuehua, deputy director general of the Department of Commerce of Guangdong Province, at the Guangdong-Macao economic cooperation promotion conference held on May 26.

At the conference, the latest foreign investment policies of Guangdong were presented by the Department of Commerce, including ten policies and measures for foreign investment in Guangdong, 12 measures to stabilize foreign investment, preferential policies for multinational corporations (MNCs) to set up regional headquarter in Guangdong, supportive policies for R&D centers, and the regulations on protection of rights and interests of foreign investors in Guangdong Province.

“In 2021, the GDP of Guangdong-Hong Kong-Macao Greater Bay Area (GBA) reached 12.6 trillion RMB, up by about 23% in the last four years. This also reflects the sustained economic growth of the Greater Bay Area. I believe that with more concerted efforts, businesses in Guangdong and Macao will seize the opportunities brought by the development of the Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin and achieve mutual benefit and win-win results, said Yu Yusheng, acting chairman of Macao Trade & Investment Promotion Institute.

Chen also stressed that since the launch of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, the three neighbors have been giving full play to their own advantages and jointly achieved remarkable results in the development of the GBA.

Besides, there were on-site policy consultation and Q&A session, which were well received by the attendees from Macao business circle.

With an aim to introduce the business environment and investment opportunities in GBA and further deepen the economic cooperation between Guangdong and Macao, the conference attracted more than 150 representatives from commercial associations and enterprises in the two places.

Through policy explanation, business environment presentation, company sharing and matchmaking, as well as business tours, the conference also intends to offer a diversified cooperation and exchanges platform for enterprises in Guangdong and Macao.

The Department of Commerce of Guangdong province expressed that it will continue strengthening cooperation with Macao, provide better services to Macao businesses, and support more quality products and services from Macao to tap into the market in Chinese mainland for better integration into the overall development of the country. In the meantime, it will also promote bilateral investment and economic cooperation in more fields and to a higher level, thus making greater contributions to the development of GBA.