Macau News

SPANISH BUSINESS DELEGATION ON FACT-FINDING MISSION TO MACAU

        The delegation comprising 17 members was headed by Alejo Rodriguez, President of the Spanish Business Association of Hong Kong. The trip was organised by the Macau Trade and Investment Promotion Institute (IPIM).

        Mr Rodriguez stressed during the visit that Macau offered foreign investors "highly favourable conditions," namely because the investment costs in Macau were lower that those in Hong Kong while its infrastructures were better than those in mainland China.

        "This was a great opportunity of acquiring a better knowledge of Macau," Mr Rodriguez said about the visit, adding that the Spanish business community in Hong Kong currently comprised about 300 members, most of who were involved in China trading.

        The delegates attended a special briefing on Macau’s business potentials at the World Trade Center Macau. The briefing was held by IPIM President Joćo Domingos, who underlined Macau’s favourable tax conditions and other financial advantages.

MACAU FIGURES

Macau’s foreign merchandise trade in the first seven months this year resulted in a trade balance deficit of 179 million patacas, down 67.8 per cent on the 556 million pataca deficit recorded in the same period last year.

        According to the Macau Statistics and Census Department, the export-import ratio improved from 93.9 per cent in the first seven months last year to 98.2 per cent in the same period this year.

        The total export value, consisting in domestic exports and re-exports, amounted to 9.633 billion patacas, up 12.7 per cent on the first seven months last year.

        The overall import value between January and July reached 9.812 billion patacas, up 7.8 per cent.

        While domestic exports rose 17.8 per cent in the first seven months from the same period last year, re-exports fell 12.5 per cent.

        Textiles and garments, taking up 84.6 per cent of the total export value, increased 20.5 per cent. Non-textile exports fell 17 per cent.