Secretary Leong promotes during Lisbon meetings Macao’s Platform role

The Secretary for Economy and Finance, Mr Leong Vai Tac, holds a meeting in Lisbon, Portugal with representatives of mainland businesses and of Macao enterprises which have invested in Portugal, and with representatives of Portuguese companies that invested in Macao.

The Special Administrative Region (SAR) Government is committed to assisting mainland and local businesses in their respective exploration of markets external to them. In particular, Macao would do this by making use of the city’s Platform role in order to set up connections in Portugal, with a view ultimately to extending such a network into other Portuguese-speaking countries.

Macao’s Platform role refers to developing Macao as a commercial and trade cooperationservice platform between China and Portuguese-speaking countries. This was a strategic role for Macao on behalf of the country, stated the Secretary for Economy and Finance, Mr Leong Vai Tac.

Mr Leong made the remarks at a meeting on Thursday (10 October) in Lisbon, Portugal. It was with representatives of Chinese mainland businesses and of Macao enterprises that have invested in Portugal, as well as representatives of Portuguese companies that have invested in Macao. The attendees also included representatives respectively from the construction; financial services; commercial and trade; and legal affairs sectors either in mainland China, Portugal or Macao.

During the meeting, Mr Leong gave a briefing offering fresh insights into the unique roles played by Macao in the development of the Guangdong-Hong Kong-Macao Greater Bay Area.

Macao’s overall Platform policy had a significant role both in terms of advancement of the Greater Bay Area city-cluster initiative and in the process of China’s quality-focused opening up of its economy, said Mr Leong.

The Secretary explained to attendees details of the three proposed routes for mainland businesses to explore economic and trade opportunities by making use of the advantages of Macao’s Platform role. The three routes were: to explore European markets via Macao’s connection with Portugal; to seek opportunities – via Macao’s link with Brazil – in Latin America; and to develop business – via Macao’s link with Mozambique and Angola – in Africa.

In the meantime, as well as pursuing external ties, businesses from mainland China would also work to attract fresh investments from Portuguese-speaking countries, added Mr Leong. These efforts would help boost Macao’s Platform role in the context of linking businesses in a targeted way.

While in Lisbon, Mr Leong also had meetings respectively with the Governor of Banco de Portugal, Mr Carlos da Silva Costa, and the Chief Executive Officer of Euronext Lisbon, Ms Isabel Ucha.

Those two meetings were held to discuss: how to foster economic and trade exchanges between Macao and Portugal; potential cooperation regarding building a financial service platform; how to make use of Portugal’s ties with the European Union, in order to strengthen Macao’s Platform role; and the latest progress with regard to a financial service platform between China and Portuguese-speaking countries.

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