Zhuhai-Macao Cooperation Sealed With Cross-Border Industrial Park

                                                                       2003-12-15

CONSTRUCTION of the Zhuhai-Macao Cross-Border Industrial Park began at Ilha Verde in Macao on Tuesday.

The 400,000 square-metre park will focus on textile and garment processing and export along with related sectors such as garment design, logistics and exhibitions, in order to create a fashion centre while promoting further Macao-Zhuhai cooperation.

The State Council-approved park is envisioned as a multifunctional industrial zone with beautiful surroundings and favourable policies, a spokesperson said.

The first phase covers 0.4 square kilometres, 0.29 square kilometres for the Zhuhai Section and 0.11 square kilometres for the Macao Section, on reclaimed seashore situated between Ilha Verde, Macao, and Wanzai, Zhuhai.

Vice Gov. Tang Bingquan said that construction of the Cross-Border Industrial Park is a major step to expedite cooperation between Guangdong and Macao under the framework of the CEPA. The project would take advantage of both Guangdong, which has a clear competitive edge in manufacturing, technology, human resources and labour costs, and Macao, an independent tariff zone and free port, Mr. Tang said. It would also promote mutual development and vitality in processing and manufacturing industries, infrastructure construction, tourism and trading, Mr. Tang added.

Mr. Tam Pak Yuen, Macao secretary for Economy & Finance, said the cross-border industrial park, which is expected to have complementary advantages for both areas and to contribute toward industrial diversity for Macao, is a milestone in economic cooperation between Guangdong and Macao. He predicts immense productivity and economic and social returns and forecasts a wider range of economic cooperation in the future.

Mr. Ma Man Kei, vice-chairman of the CPPCC National Committee; Chief Executive of the Macao Special Administrative Region (SAR) Edmund Ho Hau Wah; Guangdong Gov. Huang Huahua; Mr. Bai Zhijian, director of the Macao Liaison Office of the PRC Central People's Government; Guangdong Vice Gov. Tang Bingquan; Legislative Assembly of Macao Special Administrative Region President Susana Chou, and other senior officials from Macao SAR government institutions, General Administration of Customs of the PRC, Guangdong provincial government as well as Mayor Wang Shunsheng and Vice Mayor Zhou Benhui were at the launching ceremony.      

New Round of Investment Follows Wake of WEDDC

                                                  2003-12-15

A $3.6 BILLION round of investment in the Pearl River Delta was triggered by last month's World Economic Development Declaration Conference (WEDDC), according to the provincial Economic & Trade Department

Some $2.2 billion in agreements for 24 large projects with investments exceeding $30 million each were signed at the Guangdong, Hong Kong,  and Macao Investment Environment Promotion Fair and a Plan for Economic and Trade Talks fair on Nov. 6. Foreign investment accounts for $1.4 billion. The two-day fair during the WEDDC in Zhuhai resulted in 155 projects with a total investment of $3.6 billion, of which foreign investment accounted for 71.6 per cent or $2.6 billion.

Six large projects include two for Zhuhai: a South Korea-based highly elastic fabric (Spandex) producer and a travel agency with combined foreign investment of $274 million.

Thirty-five hi-tech projects concern electronics, communications, machinery, heavy chemical and other related industries with aggregate investments of $2.3 billion, accounting for 63.19 per cent of the total investment. The average investment in each project is nearly $64.5 million.

Seventy-three of the new projects have investment exceeding $10 million each and an accumulated investment of $3.3 billion, accounting for 92.86 per cent of the total. Among the large projects, 26 have investments of $30 million or more each.

Hong Kong-funded projects number 99 and account for 61.83 per cent of the total investment reaching $1.581 billion. Other projects are funded by firms from the U.S., Japan, Taiwan and other parts of the world.

The number of exclusively funded projects is 113 with foreign investment of $1.7 billion, accounting for 68.3 per cent of the total foreign investment. Of the projects, 45 have investments exceeding $10 million each and $1.3 billion in total.

In the meantime, the mountainous northern regions of the Guangdong Province have become hot spots for investment. Shaoguan and Qingyuan cities drew investment of $70 million and $104 million respectively.

In addition, investment in 45 projects (29 per cent) is directed toward the service sector, indicating a new trend during the post-CEPA (Closer Economic Partnership Arrangements) period.

The new round of investment is also credited to the collaboration of the governments of Guangdong, Hong Kong and Macao in promoting the investment environment in the Pearl River Delta. Efforts by the three parties are hastening creation of the Greater Pearl River Delta economic zone, industry insiders say. The implementation of CEPA as of Jan. 1 is bound to arouse greater interest from investors around the globe.