IPIM reorganization to strengthen trade

The Macau Trade and Investment Promotion Institute (IPIM) will be renamed from July 1 to the Investment Promotion Bureau, the Secretary for Economy and Finance, André Cheong, announced late last week during a press conference from the Executive Council (ExCo).

The name change is the last of several restructuring measures for the IPIM that has seen significant changes to its competencies, notably the ending its role of evaluating residency applications for qualified professionals and investment programs.

Among the changes of the new bureau is the merging of IPIM with the Support Office of the Permanent Secretariat of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao).

Cheong noted the changes aim to optimize the structure and stability of the Support Office of the Forum Macau and interlink activities and resources of the two separate services that often need to work together.

The administrative committee will head the Investment Promotion Bureau which will be composed of three departments and eight divisions.

Among these are the Investment Promotion and Economic and Trade Development Department, the Exhibition Development and Event Promotion Department, the China-Portugal Forum Permanent Secretariat Support Department, and the Portuguese-speaking Market Promotion Department.

The main duties continue to be to seek foreign investment opportunities in Macau, assist local companies to enter outside markets as well as those from outside to engage in the local market, promote and support the development of the MICE industry, and promote economic and trade exchanges and cooperation between China and Portuguese-speaking countries.