Interview by Maria Cheang Ut Meng
Chill Lao Chi Long, 37, a member of the generation of young business leaders in Macau, has told the Post he believes that the opportunities created by the nation’s development strategy, particularly in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin as a pilot, helps entrepreneurs understand the differences in the legal and tax systems between the mainland and Macau.
Moreover, according to Lao, the expansion of one’s local business operation into Southeast Asian markets also benefits from the motherland’s growing strength.
Veteran businessman Dominic Sio Chi Wai, 66, on the other hand, told the Post in an interview last week that in the face of widespread internet use and geopolitical changes, the local business community needs to adjust its mindset to embrace the rise of Asia. Sio said he hopes that Chief Executive Sam Hou Fai’s working visit to Portugal and Spain in July can foster the idea of establishing “dual strongholds,” transforming Macau, Portugal and Spain into interconnected trade hubs for China, Europe, and even Africa and Latin America.
Lao and Sio spoke to the Post in separate interviews on Friday about the expectations set forth by Xia Baolong, who heads both the Hong Kong and Macao Affairs Office of the State Council and the Hong Kong and Macao Work Office of the Central Committee of the Communist Party of China (CPC), during his recent inspection visit to Macau.
Both welcomed the advice given by Xia during his six-day inspection tour of Macau, and both hailed the business opportunities created by the in-depth cooperation zone in Hengqin and the Greater Bay Area (GBA) consisting of nine cities in Guangdong and the nation’s two special administrative regions of Hong Kong and Macau.
Lao, a second-generation Chaozhou (known as Chiuchow in Cantonese) local businessman, is the deputy head of the Youth Committee of the Macau Chamber of Commerce (ACM) and a partner at Pop Art Workshop Nova Limited. He told the Post in an interview in his office on Friday that as a young entrepreneur, the nation’s growing strength has facilitated his company’s market expansion efforts, particularly in Thailand and Malaysia, where it feels respected and welcomed by local overseas Chinese communities and business leaders.
Having started his entrepreneurial journey 10 years ago across various sectors including cultural and creative industries, technology, and food, Lao acknowledged initial challenges in adapting to the mainland’s different legal and tax systems, as well as the intense competition there. However, concerning the establishment of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin and the promotion of the GBA market, Lao said that he regards the zone as a platform for young people to help them understand the differences in the business environment between the mainland and Macau, giving them more time and space to familiarise themselves with the mainland market.
Lao mentioned that his company has adopted a mainland technology property management system to innovate the property management industry in Macau, aligning with the government’s recent push for high-end technology development.
Lao admitted that, at least for the time being, he has no plans to venture into Europe or other markets even further away. However, Lao said, he is optimistic about the potential for local businesses to collaborate with their counterparts abroad, adding that this would raise confidence among young entrepreneurs in the region.
Meanwhile, Sio, chairman of the Board of Directors of the Macau Importers & Exporters Association, underlined the significance of the guidance given by Xia during his visit. Sio, who spoke to the Post in his office also on Friday, noted that Xia emphasised the advantages of both Hong Kong and Macau in global business, particularly as China has become the world’s second-largest economy, attracting many countries to engage in trade with it.
Sio stressed that Hong Kong and Macau must leverage the “One Country, Two Systems” framework effectively while adopting new perspectives and thinking, supported by the strong national backing of “One Country.” Sio said he believes that as long as private enterprises in Hong Kong and Macau are willing to strive ahead, they will find new opportunities.
Sio encouraged young businesspeople to build on the foundations laid by the previous generation, utilising the professional knowledge and training they receive as the second or even third generation. Sio emphasised the need to understand the nation’s major strategic developments, especially the opportunities presented by the Guangdong-Macao In-Depth Cooperation Zone and the vibrant Greater Bay Area.
Sio underlined that the local business landscape must seek diversification to avoid the risks of depending on just one particular business sector, pushing for a more balanced economic structure in Macau. Sio said he believes that collaboration with the Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin is essential for the new generation of Macau’s business community to thrive.
Sio also said he hopes that Chief Executive Sam’s upcoming working visits to Portugal and Spain will not only open new opportunities for the Macau business community but also strengthen relationships with Portuguese and Spanish authorities, establishing mutual “dual strongholds.” This would facilitate trade and economic exchanges between Macau and Portugal, as well as Spain, enhancing opportunities for future interactions.
Sio said he is confident that if the local authorities adopt a broader vision beyond just serving Macau, they can establish secure trade channels in Southeast Asia and East Asia, taking advantage of innovative management strategies in Hengqin to align with international regulations. This approach could foster a new landscape, combining international norms with fair practices, addressing the challenges Macau and the nation as a whole will face in the future.
Young local businessman Chill Lao Chi Long poses in his office on the sidelines of an interview with the Post in his office on Friday.
Veteran local businessman Dominic Sio Chi Wai poses on the sidelines of an interview with the Post in his office on Friday. – Photos: Maria Cheang Ut Meng
