Leong meets with Rio vice governor to talk PSC trade

Lionel Leong (standing, center) visits a startup center in Rio

Secretary for Economy and Finance Lionel Leong met with the vice governor of Rio de Janeiro, Francisco Dornelles, as one of the final stops on his combined trip to Brazil and Portugal last week.

Leong briefed his hosts on various economic initiatives concerning Macau, including the city’s participation in the realization of the Guangdong-Hong Kong-Macau Greater Bay Area project, the Belt and Road Initiative, the advancement of Macau as a platform for trade with Portuguese- speaking countries (PSC) and the evolution of Macau as a renminbi currency-clearance center for Portuguese-speaking countries.

According to a statement from Macau’s Government Information Bureau, Leong said Brazilian enterprises should seize the unique opportunity to enter – through what he termed a “soft landing” – the Chinese market using Macau as a platform.

Macau would make use of its functions as a platform in order to provide governmental departments in Brazil, and Brazilian enterprises, with the latest information about the mainland China market, he said. This would enable Brazilian entities to enter the Chinese market.

Leong further noted that the China-Portuguese-speaking Countries Cooperation and Development Fund had established its headquarters in Macau. In future, this fund will promote investments between China, Brazil and Macau.

To this end, various Macau government entities would work jointly with the Secretariat for Economic Development of the Rio de Janeiro government in order to implement the related work.

Leong mentioned that the Macau government was actively promoting the MSAR’s aims of economic diversification and fostering nascent industries. These included specialized financial services and the convention and exhibition industry, with a particular focus on conventions.

He invited the State Government of Rio de Janeiro to organize delegations of government departments and industries to Macau. He also invited them to participate in three major convention and exhibition events held in the city; namely, the International Infrastructure Investment and Construction Forum, the Macau International Environmental Co-operation Forum and the Macau International Trade and Investment Fair.