Macao Economic, Trade and Tourism Investment Promotion Seminar Successfully Hosted in Singapore Leading to the Signing of 74 Industry Co-operation Agreements

As one of the major economic and trade initiatives of the Macao SAR Government’s visit to three Southeast Asian countries, the Macao Economic, Trade and Tourism Investment Promotion Seminar (Singapore), jointly hosted by Commerce and Investment Promotion Institute (IPIM) and Macao Government Tourism Office (MGTO) of the Macao Special Administrative Region, took place today (31 August). The event attracted over 400 delegates from the political, business, and tourism sectors of Macao, Hengqin, provinces and cities in Chinese mainland, and Singapore, with over 60% of them representing Singaporean companies and business associations. Over 130 business matching sessions were facilitated during the event, resulting in the signing of 74 industry co-operation agreements. By harnessing Macao’s distinctive advantages of “being backed by the country and connected to the world”, the gathering aided Macao and mainland enterprises in collaborating to overseas markets and strengthening cross-regional economic and trade collaborations.

Aligned with the deployment of the Macao SAR’s Third Five-Year Plan, this Seminar provided the Singaporean industry with the industrial layout, investment opportunities, and tourism and MICE resources under the strategies of Macao-Hengqin integration and the appropriate diversification for Macao’s economy. The event received support from Enterprise Singapore, the Singapore Chinese Chamber of Commerce & Industry, the National Association of Travel Agents Singapore, and the Industrial Development Bureau of the Guangdong-Macao In-Depth Co-operation Zone in Hengqin, attracting representatives from diverse sectors, including high technology, MICE, healthcare, and industry-academia-research co-operation.

Promoting an Appropriately Diversified Economy for Macao

At the event, IPIM President Che Weng Keong emphasised the similarities between Macao and Singapore as open and outward-oriented economies, underscoring the considerable potential for collaboration between the two regions in trade, tourism, science and technology, healthcare, modern finance, MICE and professional services. Macao is now constructing the Macao Sci-Tech Park, and establishing a Government Guidance Fund of MOP 20 billion. Coupled with the Macao-Hengqin joint development, favourable policies such as the “Scheme for Supporting the Development of Macao First-Store Economy” and the “Global MICE Partners Alliance Program”, Macao will provide robust support to investors in terms of taxation, talent mobility, cross-border finance, and business facilitation. Singaporean investors are encouraged to leverage the Macao Platform to jointly explore market potential.

Deputy Director of MGTO, Cheng Wai Tong, stated that MGTO is making great endeavours to tap into international markets. At present, Singapore ranks among Macao’s top ten international visitor markets. Since organizing a mega roadshow in Singapore in 2024, the Office has kept widening promotional efforts to spotlight multi-destination tourism products of  Macao and the Guangdong-Hong Kong-Macao Greater Bay Area through diverse initiatives online and offline. During the visit, MGTO signed a memorandum with the world’s leading research organisation on Muslim travel, Crescent Rating, to advance Muslim-friendly tourism development in Macao. In the future, the Office will continue to leverage both prestigious designations by UNESCO –The Historic Centre of Macao as a World Heritage site, and Macao as a Creative City of Gastronomy, to brand the destination in innovative ways and enrich visitors’ experiences, reinforcing Macao’s status as a world centre of tourism and leisure.

According to Victor Gan, Associate Principal of SG Growth Capital of Singapore Economic Development Board, Singapore has a diversified economic structure, featuring manufacturing industries such as electronics and semiconductors, alongside trade and financial services. Institutional trust, talent base, regional connectivity, and urban liveability form the core appeal of Singapore. Coupled with an extensive economic and trade collaboration network, Singapore can offer robust support for multinational companies looking to extend their presence into the Southeast Asian market.

Innovative Presentation Showcases Vibrant Destination Appeal through Dance and Music

To enhance the promotional effect, MGTO incorporated dance and music elements into destination presentations for the first time. There was a vibrant showcase of Macao’s latest tourism outlook and destination glamour ranging from World Heritage attractions and signature delicacies to colourful festivals and events, offering the audience an impressive insight into the diverse offerings of  “tourism +” through audio-visual effects. A special introduction was given to Macao’s Halal-certified dining and publication “Macao for Muslim Travelers – Halal Travel Guide”, besides a spotlight on multi-destination travel to Macao, Hengqin and the Greater Bay Area.

Wu Chuangwei, Director of Industrial Development Bureau of the Guangdong-Macao In-Depth Co-operation Zone in Hengqin, and Li Hongchun, Chief Physician from the International Medical Centre of Macao Union Medical Centre, introduced the policy benefits of the Co-operation Zone and the resources and conditions of Macao’s big health industry.

The Signing 74 Industry Co-operation Agreements

The event successfully facilitated the signing of 74 industry co-operation agreements on-site, in the areas of high technology, traditional Chinese medicine (big health), MICE, tourism, and industry-academia-research collaboration, with signatories including companies from Macao, Chinese mainland, and Singapore.

Representatives from local participating organisations pointed out that the Promotion Seminar aligned closely with the needs of the local industry. They noted that the event not only facilitated a better comprehension of the latest advancements in Macao-Hengqin but also shed light on the supportive measures of these two regions. They highly affirmed Macao’s business environment and policy advantages, expressing their belief in Macao’s strong market appeal.

Delegations Will Visit Indonesia and Malaysia to Explore Business Opportunities for Trade, Economic and Tourism Co-operation

In Singapore, MGTO paid a visit to the China Cultural Centre in Singapore, the China National Tourist Office in Singapore as well as a leading TV-and-film production and streaming platform, to gain insights into the market trends in Singapore and deepen exchange on destination marketing for future co-operation. The Macao and mainland trade delegations conducted inspections on key infrastructures for cross-border trade and economic co-operation, digital technology for Muslim markets, green and sustainable technology, biomedicine, smart transportation and business district projects, aimed at fostering industry co-operation. The delegations will then visit Indonesia and Malaysia to facilitate business and tourism exchanges, advancing the implementation of more practical co-operation projects, and forging long-term mutually beneficial development opportunities for Macao and its regional partners.

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