This Issue’s Topical Story
New Recruitment Phase of Investment Projects for the “Guangdong-Macao Co-operation Industrial Park” in Hengqin
Aiming at High and New Technology, Emerging Industries and High-end Service Industries
In an effort to implement the Framework Agreement on Co-operation between Guangdong and Macao and maximise the influence of the Guangdong-Macao Co-operation Industrial Park on the moderate diversification of Macao’s economic development, the Macao Trade and Investment Promotion Institute (IPIM) and the Administrative Committee of the Hengqin New Area initiate a new phase of investment recruitment for Guangdong-Macao Co-operation Industrial Park and start accepting applications for using the rest 2.57 square kilometres in the Park with a new assessment mechanism from 31 December 2018.
In the new recruitment phase, there will be no deadline for application and applications will be accepted until the total area of the Park has all been allocated. Eligible and Macao corporate body / natural person commercial entrepreneurs intending to invest in the Park can submit applications to the Macao Trade and Investment Promotion Institute pursuant to the “Application Guidelines on Intended Investment Projects in the Guangdong-Macao Co-operation Industrial Park on Hengqin Island”. The assessment will be carried out by the Assessment Committee for the Macao Projects for Hengqin Development, which composes of government officials from both Macao and Hengqin, representatives from industries and professional sectors. Qualified investments will be recommended to the Park by the Macao SAR Government.
On 28 December 2018, IPIM and the Administrative Committee of the Hengqin New Area held a joint press conference, where IPIM’s Acting President Irene Va Kuan Lau, Director of Administrative Committee of the Hengqin New Area Yang Chuan, President of the Board of Directors of the Macao Chamber of Commerce and member of the Assessment Committee for the Macao projects for Hengqin Development Kou Hoi In, Vice President of the Council for Science and Technology and member of the Assessment Committee for the Macao projects for Hengqin Development Lam Kam Seng introduced relevant details of the new phase of investment recruitment. At the joint press conference, Acting President Irene Va Kuan Lau and Director Yang Chuan said that the new phase of investment recruitment will focus on high and new technology, strategic emerging industries and high-end service industry, with a view to contributing to the development of the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area, supporting the reform and opening-up of the country to enter a new era, helping more Macao enterprises to grasp the key opportunities arising from the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area, nurturing new economic drivers by further utilising the Guangdong-Macao Co-operation Industrial Park in Hengqin as a carrier and platform.
IPIM’s Executive Director Agostinho Vong Vai Lon introduced the application assessment mechanism, assessment criteria and application guidelines at the press conference.
According to him, in the first round of investment recruitment in 2013, the main considerations for the assessments were “whether the project satisfies the priority considerations for recommendation to the Guangdong-Macao Co-operation Industrial Park”, “capability of the applicant/enterprise/investor” and “feasibility analysis of the investment project”. In the new phase of investment recruitment, the project assessment mechanism has been enhanced with improvements made on the existing assessment criteria. It aims to select and recommend with precision quality projects. Therefore, the new phase of investment recruitment will attach greater importance to the industrial elements, capability of investor and project feasibility, as well as the project’s relevance to the moderate diversification of Macao’s economic development. The investments will also be required to be implemented in Macao to a certain extent. In addition, in order to enhance the transparency of assessment standard, the detailed assessment criteria have been published on IPIM’s official website. Applicants can collect all required documents and information according to the Application Guidelines on Intended Investment Projects in the Guangdong-Macao Co-operation Industrial Park on Hengqin Island.
The newly formed Assessment Committee for the Macao Projects for Hengqin Development will be the core mechanism of the recommendation task. The Assessment Committee consists of 15 members in total, including six Macao government officials from economic and finance, social and culture, transportation and public works domains, six representatives from the Administrative Committee of the Hengqin New Area and Zhuhai, as well as three representatives from Macao’s industries and professional sectors. Abiding by the abstention mechanism and confidentiality obligations to ensure the impartiality and confidentiality of the assessment, the Assessment Committee will be in charge of the project assessment. A collaborative work group will be set up under the management of both Macao and Hengqin to handle the works of the secretariat. The Assessment Committee will conduct independent assessment in compliance with the assessment criteria. Only the projects that are endorsed by at least two thirds of the Assessment Committee members will be deemed qualified for recommendation, which is more discreet compared with the assessment in the previous phase of investment recruitment.
Macao enterprises or investors interested in investing in the Guangdong-Macao Co-operation Industrial Park can submit application on the 19th floor of China Civil Plaza at Alameda Dr. Carlos D’Assumpção No.263, or on the 4th floor of World Trade Centre Macau at Avenida da Amizade No. 918 after making reservation. For enquiries, please call 2872 8328 or refer to the application guidelines and relevant information on IPIM’s website www.ipim.gov.mo.