A high-level delegation has concluded an eight-day tour of Singapore, Indonesia, and Malaysia, securing 189 agreements to foster regional trade and tourism links.
SAR strengthens regional ties to support Macao’s economic diversification
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A business and tourism delegation representing Macao, Hengqin, and the Chinese mainland has officially concluded an eight-day tour across Singapore, Indonesia, and Malaysia. The mission aimed to forge new channels for trade and tourism, injecting momentum into the goal of long-term Macao’s economic diversification.
During the visit, which concluded on 5 September, the delegation facilitated more than 370 business matching sessions and signed 189 co-operation agreements. These projects span several sectors, including high technology, traditional Chinese medicine, MICE, and halal certification, which are central to the region’s development agenda. Of these agreements, 82 were signed in Singapore, 45 in Indonesia, and 62 in Malaysia, representing a significant step forward in strengthening international ties.
Unlocking growth through Macao’s economic diversification
The Macao Government Tourism Office (MGTO) played a central role in these efforts, signing memoranda with various organisations, including Crescent Rating and the National Association of Travel Agents Singapore. By partnering with bodies like the Malaysian Association of Tour and Travel Agents, the MGTO aims to foster mutual visitation and promote sustainable tourism development, extending the city’s reach within international markets.
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Concurrently, the Commerce and Investment Promotion Institute (IPIM) established agreements with several influential chambers of commerce, including the Singapore Chinese Chamber of Commerce & Industry and the Associated Chinese Chambers of Commerce and Industry of Malaysia. These partnerships are designed to create a more comprehensive business network, offering support for major investment projects in the region.
Looking ahead, the Macao government intends to leverage the policy dividends of the Guangdong-Macao In-Depth Co-operation Zone in Hengqin to access broader markets. By aligning with the Belt and Road initiative, officials believe these strengthened connections will continue to drive Macao’s economic diversification, providing a stable, external impetus for the city’s future growth and industrial development.
