50 new local projects recommended to Hengqin

The government will recommend another 50 investment projects for the Guangdong-Macau Industrial Cooperation Park in Hengqin to the Board of the New Hengqin Zone, which were received during the application period, according to the Macau Institute for Trade and Investment Promotion (IPIM).

An initial group of 33 investment projects was presented by the Macau government to the Board of the New Hengqin Zone in April 2014, according to the statement released by IPIM.

The new projects are in different sectors, including tourism and leisure, logistics, research and scientific and technological development, cultural and creative industries, high and new technologies and health and wellness.

These projects must be in line with the development plan for the New Hengqin Zone, and it is the Board’s responsibility to make a decision on each proposal, after analyzing their content, including the industries involved, operational strategies and investment capacity, among other factors.

Of the 33 projects presented in April 2014 a total of 16 have been approved and their promoters have acquired land in the industrial park at auction.

These projects involve a total investment estimated at over 80 billion patacas (USD10 billion) and most are linked to the sectors of tourism and leisure, cultural and creative industries, high and new technologies, scientific research and development and technology, trade and logistics.

IPIM’s statement added that the Macau government in order to promote the continued development of the Industrial Park, will maintain close communication with the Board of Management of the New Hengqin Area, recommending new projects where they are beneficial for the economic diversification of Macau and the growth of the industrial park.  MDT/Macauhub