Macau | Some RMB3.2 bln in projects signed at China-Latin America & Caribbean International Exposition

The Zhuhai government announced today that a total of 73 projects worth more than RMB3.2 billion (MOP3.8 billion/US$481.8 million) were signed just in the first day of the event of the China-Latin America & Caribbean International Exposition

Macau (MNA) – The majority of the signed projects were for printing supplies, modern logistics, petrochemicals, and home electric appliances.

The expo, which took place between November 9 and 11, attracted 523 enterprises and associations from 24 South American and Caribbean states and 33 other countries.

The Macau Secretary for Economy and Finance Lionel Leong Vai Tac, and the President of the Macau Chamber of Commerce, Ma Iao Lai, also attended the event.

The expo saw the inauguration of the China-Latin America Economic & Trade Cooperation Park,  a 244,000 square meters economic park built for RMB2.5 million to host events on cultural communication, tourism, cross-border e-business, trade, and modern business services.

The park also offers Latin American enterprises with favourable investment policies, such as a reduction in corporate income tax up to 15 percent and a 40 per cent reduction in personal income tax.

According to China Daily, last year the total import and export volume of Guangdong province with Latin America countries reached US$33.65 billion, or one-sixth of the country’s total.