Hengqin to exempt Macau goods from customs duties: Lei

2023-05-10 03:27     BY Yuki Lei    Comment:1

A “line-division management” arrangement will be implemented in the Guangdong-Macau In-depth Cooperation Zone in Hengqin later this year, according to Secretary for Economy and Finance Lei Wai Nong, who pointed out yesterday that by then, goods from Macau will be exempt from customs duties when entering Hengqin.

Lei, director of the zone’s Executive Committee, made the remarks in a speech during yesterday’s Global Investment Promotion Conference in Hengqin.

The first-ever promotion conference, organised by the zone’s Economic Development Bureau (ECD), took place in Hengqin with over 400 representatives of enterprises and institutions from Europe and Southeast Asia invited to participate in the event.

Lei said that the conference plays an important role as a “window” to show global entrepreneurs the development achievements of the zone, which has been established for about a year. He added: “It [the conference] is also a solemn declaration for us to attract investment and talents from all over the world.”

According to Lei, the Executive Committee has visited Indonesia, Singapore, Malaysia, Portugal, Spain and other countries for investment promotion, believing that the “going out” strategy has achieved “good results”.

Lei noted the Executive Committee hopes to invite more enterprises to “get into” Hengqin by holding the promotion conference, enabling them to see the “other side of Hengqin” in addition to watching the promotional video and scrutinising the respective documents.

ECD Director Li Ziwei told reporters on the sidelines of the event that the conference has enhanced the confidence of participating companies to invest in the zone, believing that the event has achieved the expected results.

Macau Trade and Investment Promotion Institute (IPIM) President Vincent U U Sang told the media on the sidelines of the conference that some business representatives attending the event have already formalised their investment plans in Hengqin, including Big Health enterprises, the negotiation process of which was, however, still in the preliminary stage.

U added that Macau and Hengqin will carry out more investment promotion activities, aiming to enable domestic and foreign investors to gain a complete and better concept of the integration of Hengqin and Macau.

Meanwhile, yesterday’s conference was also attended by Liu Xianfa, commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Macau Special Administrative Region, and his delegation, as well as representatives of participating companies and institutions. During their one-day tour of Hengqin, the group also visited the zone’s Exhibition Hall, Innovation Living Lab & Hengqin Bringbuys Network Technology Company and Traditional Chinese Medicine Science and Technology Industrial Park of Cooperation.

Liu told reporters that the number of enterprises investing in the zone has been on the rise since the announcement of its overall development plan last September. He also said that “more support” measures would continued to be launched for foreign enterprises. 

Secretary for Economy and Finance Lei Wai Nong, director of the Guangdong-Macau In-depth Cooperation Zone’s Executive Committee, delivers a speech during yesterday’s Global Investment Promotion Conference in Hengqin. – Photo: Yuki Lei 

Liu Xianfa, commissioner of the Ministry of Foreign Affairs of the People’s Republic of China (PRC) in the Macau Special Administrative Region (MSAR), delivers a speech in Hengqin yesterday. - Photo couresy of OCMFA 

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