FTZ opportunities

The Macau SAR Government and the Guangdong Government jointly held a briefing on the introduction of the Guangdong Free Trade Zone (FTZ) in Macau Tower yesterday.
The Guangdong Government representative said that the two sides would discuss the innovation of finance services in the FTZ. Chief Executive Chui Sai On also vowed that the SAR Government would encourage local residents and businesses to aid the development of the FTZ in the neighbouring region.
In his speech, Chui Sai On said that the official inauguration of Guangdong FTZ has brought important opportunities to Guangdong-Macau co-operation and would play an important role in regional development thus both sides would benefit.
“The Guangdong Free Trade Zone and Macau Special Administrative Region would follow the development positioning of ‘one centre, one platform’. It would help with the diversification of the economy and administrative deployment to constantly improve people’s livelihood,” said Chui Sai On. “The two sides can co-operate ‘organically’, magnifying the effect based on these beneficiary policies.”
The Chief Executive also indicated that the mutual accreditation system by Guangdong, Hong Kong and Macau that is being studied, as well as co-operation on the talent training programme and the ongoing establishment of a start-up base for youngsters would largely benefit Macau residents.
Chui Sai On added that the Guangdong-Macau Co-oparative Industrial Park, Guangdong-Macau Traditional Chinese Medicine Technology Industrial Park, and other joint development projects would be launched gradually.
The vice governor of Guangdong Province, Zhao Yufang, emphasised the innovative side of the Free Trade Zone. She said that they will work on further loosening restrictions on the requirements of businesses participating in the Free Trade Zone, as it will hasten the speed of changing the ways of development of international trade as well as promoting financial services and bringing in more innovation.
“The provincial government has been in talks with the Macau Government in innovating ways of co-operation in financial services. We are working on it. We have also been trying to gain more support from the central government,” said Zhao Yufang.
The neighboring provincial head also said that this is the first time an introduction on the policies of the Guangdong Free Trade Zone had been held outside of the province, indicating officials from both sides are attaching great importance to the opportunities that the development of the FTZ would bring to deepen Guangdong-Macau co-operation.