Chief Executive Ho Iat Seng outlines plans to diversify the economy and boost the growth of Macau\u2019s Gross Domestic Product.<\/p>\n\n\n\n\n\n\n\n
Macau.- Chief Executive Ho Iat Seng has confirmed plans to invest MOP400billion (\u20ac46billion) in expanding into neighbouring Chinese island, Hengqin.<\/p>\n\n\n\n
The Governor told legislators there are integrated technological development projects that require funding, with plans to create an internationalisation centre with a focus on business with Portuguese-speaking countries.<\/p>\n\n\n\n
The projects, run by local companies, were described by Ho Iat Seng as essential to diversifying the economy and boosting the growth of Macau\u2019s Gross Domestic Product (GDP). <\/p>\n\n\n\n
According to Ho, the expansion, sponsored by Chinese President Xi Jinping, is an opportunity to respond to Beijing\u2019s demand for national integration and to strengthen its role as a trading platform between China and Portuguese countries.<\/p>\n\n\n\n
Currently, Hengqin already houses the University of Macau on a 1 square kilometer land plot that was handed over for 40 years. <\/p>\n\n\n\n
Macau companies will be able to set up shop in the newly constructed Guangdong-Macau Cooperation Industrial Park, built on land owned by the neighbouring city of Zhuhai, in Guangdong province.<\/p>\n\n\n\n
In an attempt to attract companies to the Guangdong-Macau Cooperation Industrial Park, the authorities are promising benefits ranging from the acquisition of land at reduced prices to tax deductions in exchange for investment in a space that belongs to Zhuhai, but which will have a taxation framework similar to that of Macau.<\/p>\n\n\n\n
The Government of the territory promised to \u201cspeed up the construction of the New Neighbourhood of Macau project, endowing it with integrated functions, such as care for the elderly, housing, education and health in order to create\u201d favourable conditions for residents of Macau.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chief Executive Ho Iat Seng outlines plans to diversify the economy and boost the growth of Macau\u2019s Gross Domestic Product.<\/p>\n","protected":false},"author":2,"featured_media":5803,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's Chief Executive Ho Iat Seng announced a MOP400 billion investment in Hengqin to diversify the economy and boost GDP. The initiative focuses on technological development, fostering trade with Portuguese-speaking countries, and strengthening national integration, supported by incentives for companies in the Guangdong-Macau Cooperation Industrial Park. This strategic expansion aims to create a new economic hub with integrated social infrastructure.","focusai_entities":"Ho Iat Seng, Xi Jinping, University of Macau, Government of Macau","focusai_location":"Macau, Hengqin, China, Zhuhai, Guangdong","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.7), tech_data (0.7), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Gaming Vertical Integration?","query":"What specific gaming verticals or iGaming B2B services are being targeted for integration or development within the Hengqin economic diversification framework, given Macau's established gaming infrastructure?"},{"label":"Tax Incentives Impact?","query":"How will the proposed tax deductions and land acquisition benefits in the Guangdong-Macau Cooperation Industrial Park impact the competitive landscape for capital market investments compared to existing free trade zones in the region?"}],"footnotes":""},"categories":[160,157,16338],"tags":[257],"class_list":["post-5799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-business-news","category-east-asia-news","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=5799"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5799\/revisions"}],"predecessor-version":[{"id":5809,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5799\/revisions\/5809"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/5803"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}