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ISSUE 96 - Apr 2012
 
 
What are your expectations for the gross gaming revenue growth of Macau’s gaming industry in 2012?
Decline
Growth above 20 percent
Growth from 10 to 20 percent
Stagnation
 
 

Grand intentions

Issue 22 (2/2006)
Posted: 11/26/2009 7:00:47 AM
Rating:     100% (2 votes)
  

Top officials from across the Pearl River Delta have met to discuss regional cooperation and development strategies for Mountain Island.
There were many triumphant speeches but no specific measures divulged to chew over.
Among others, Chief Executive Edmund Ho Hau Wah and the president of the Zhuhai municipality, listened as officials from the National Commission for Reform and Development (NCRD) asked all parties to play a responsible role in the planning of Mountain Island, in order to prevent delays and duplications.

Finance and land management
Fan Heng Shan, director of the NCRD’s Regional Economy Bureau, considers that Mountain Island will be an example of successful regional cooperation, welcoming reforms in finance and land management, and also promoting social and economic cohesion across the Pearl River Delta.
He also underlined that the project implies the taking of serious responsibilities and the need for open attitudes, and will provide great challenges. Simultaneously, Fan Heng-shan asked the Zhuhai authorities to “reinforce their leadership in the project, so that each party knows exactly what to do and what its share of responsibility is”.
He also said Zhuhai should guide the development of Mountain Island, in accordance with its urban plan.

Acceleration
The same goes for the Macau and Hong Kong authorities who were challenged to get involved in the island’s urban planning, to accelerate the integration of the SAR’s in an “efficient, flexible and convenient way”.
Fan said: “Macau needs land, resources and skills from its neighbours, while the new Mountain Island will need capital, experience and qualified staff, especially from Macau and Hong Kong”.

Added value, new technologies
The vice-governor of Guangdong province, Wan Qing Liang said the plan favours the Macau SAR economy and its diversification.
He added that, “investigation and development, as well as the island’s creative sectors, should act as a launch pad to develop Macau’s traditional sectors.
“At the same time, pharmaceutical and electronic manufacturing will provide Macau with added value and new technologies”, he said.
Song Jin Song, president of the Investigation and Development Bureau of the Zhuhai Municipality, said the area will become “China’s most liberal special zone” benefiting both SARs and attracting international investment.

Mobility
Song said it needed to promote the mobility of people, capital, logistics and information but did not elaborate on the possible abolition of customs barriers.
The president of Nam Kwong, Xu Kai Cheng, revealed that the company is putting the final touches to an investment proposal in areas such as exhibitions, trade and services, culture and tourism and, “due to Beijing’s support”, the relocation of the company’s Chinese headquarters to Mountain Island.

Hengqin University campus price tag

Macau will pay MOP1.2 billion for the leasehold on the 1.1 square kilometre University of Macau campus on Hengqin island. The investment represents 2.5 percent of the government’s MOP 48.08 billion budget for this year. According to the secretary for Transport and Public Works, Lau Si Io, the value of the leasehold that expires in 2049 was based on the calculation of land premiums in Macau, as well as land reclamation and expropriation before transferring the property’s land-use rights to Macau, on August 14. Lau did not say when and how the local government will pay the Zhuhai municipal government, which holds sovereignty over Hengqin island. Under an agreement approved by Beijing, Macau was granted jurisdiction over the future university campus that will be connected to Coloane through an immigration-free underwater tunnel. The Hengqin campus is set to open in 2012. The 86 square kilometre island has a population of about 8,000.

Pearl River Delta bridge gets Beijing nod

China has approved a feasibility report on the construction of the bridge linking Zhuhai to Hong Kong and Macau, a move widely expected to improve economic efficiency in the Pearl River Delta.
The decision was made in an executive meeting of the State Council, or the Cabinet, chaired by Premier Wen Jiabao.
In the same meeting the blueprint to develop a southwest border autonomous region amid the country’s endeavour to upgrade economic cooperation with its southeast Asian neighbours was also agreed.
The project, which is estimated to cost 72.6 billion yuan (US$10.63 billion), will forge stronger economic and social ties between the west bank of the Pearl River and Hong Kong and it is expected to raise the overall competitiveness of the Pearl River Delta, maintain the lasting prosperity and stability of Hong Kong and Macau and boost coordinated social and economic development of the Pearl River region.
The Macau secretary for transport and public works, Lau Si Io said the Guangdong and Macau governments will kick off the construction of the delta bridge as soon as possible.

by Kahon Chan

Headlines

Facts on Figure April 2010

Home truths

A comprehensive study into Macau's property market says flexibility and caution should be the watchwords as officials shape the future of public and private housing. But most of all, home ownership should be promoted.

Lap of luxury

The Waterside in One Central on the edge of Nam Van Lake is the jewel in the crown of Macau Property Opportunities Funds portfolio. Leasing has just started and prospects are looking good .

Winning bet

A couple of hiccups aside, the Macau Property Opportunities Fund has sailed through the global financial crisis, seeing its asset value increase. The company believes its investment choices have left them well positioned. A Hong Kong listing would make sense, they say, but investors will have the final say.
Other Macau Latest News

TransAct appoints new sales manager for Asia

Rashid Suliman will be responsible for the sales of the company’s products in Macau

Venetian hosts Ice World

The exhibit will last until September 16

Melco Crown to participate in Dragon Boat races

Around 50 Melco Crown employees have joined forces to form two teams

Bank tellers with two-digit salary growth

Wage increases outpace the inflation rate

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