State-owned companies explore Portuguese-speaking markets

The launch of the Summit on Chinese Central SOEs Supporting Macau as a Co-operation Platform between China and Portuguese-Speaking Countries took place yesterday in Macau.

The summit reportedly marks the first time China’s state owned companies are cooperating with local enterprises in Macau to explore business opportunities in Portuguese-Speaking countries.

Seven cooperation agreements
were signed between China’s state companies and companies from Portuguese-speaking Countries.

One such agreement was for a solar photovoltaic project signed between China Triumph International Engineering Co. Ltd, and Portuguese company Solara 4 S.A.

Chinese state-owned enterprises also signed two cooperation agreements related primarily to tourism projects with companies and governmental departments from Angola.

Two engineering projects concerning transportation were signed between Chinese companies and Mozambique.

Chief Executive Chui Sai On said during his speech that the summit encourages actors to “build a platform to closely connect state-owned companies, Macau enterprises and enterprises from Portuguese-speaking countries, thus assisting Macau in practicing the implementation of developing the territory as a platform between China and the Portuguese-speaking countries.”

The summit has the support of the state-owned Assets Supervision and Administration Commission of the State Council and the Liaison Office, according to Chui.

“Holding the summit reflects the support and attention of the central government and related departments in regard to Macau structuring itself as a platform between China and the Portuguese-speaking countries,” declared Chui, adding that the summit also pushes forward the goal of diversifying Macau’s economy.

Chui believes that China’s state-owned companies, along with the Macau government and other industries, are working effectively to make Macau a platform for Portuguese-speaking countries.

On the sidelines of the summit, the Secretary for Economy and Finance, Lionel Leong, said that more than 20 Chinese state-owned companies visited the city during the summit. They came with the particular intent of signing cooperation agreements with companies from Portuguese-speaking countries within the sector of infrastructure, energy, and environmental protection. Leong noted that these companies, “regardless of their total assets and annual turnovers, are huge.” The Secretary then explained that cooperation  with state-owned companies “is a new proposition for Macau enterprises, especially for those with intentions of developing overseas.”

The secretary noted that the scale of the enterprises should not be the only aspect Macau enterprises take into consideration, further indicating that Macau has its own advantages. Leong remarked that local enterprises have their own important qualities, such as their Portuguese language related skills, and their understanding of the Portuguese-speaking market’s internet, laws, and regulations.

Leong expressed the hope that local enterprises can improve by collaborating with state-owned companies. He also mentioned that Macau welcomes state-owned companies to settle and open their businesses in Macau. JZ

Forum supporting office director appointed

Mok Iun Lei has been appointed as the director of the Supporting Office to the Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Forum Macau). The appointment was announced yesterday in the government official gazette, according to a notice signed by the Chief Executive. Mok’s appointment will come into effect on June 5, and will last for one year. Previously, Mok was the acting director of the Statistics and Census Service.