GBA Series by Macau Business (September 2022)

Mobility and inclusivity
By José Carlos Matias, Director of Macau Business

It is a meaningful move. In late August, Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China, Liu Xianfa, in the SAR that as of September 1, non-Chinese Macau permanent residents are eligible for 5-year multi-entry visas to Henqgin, while non-permanent residents can also get a multi-entry permit, valid for the same term as their ID card. This signals a much-expected inclusive approach that one hopes can be extended in the future to the city’s foreign non-resident workers (blue card holders). Not coincidentally, it takes place as the Guangdong-Macau In-depth Cooperation Zone in Hengqin celebrates its first anniversary. Other important measures have been announced over the past weeks, such as scrapping the limit on the number of Macau single-plate non-commercial passenger vehicles of no more than nine seats to enter the neighbouring island, among other incentives.

The Zone’s potential can be seen at a stone’s throw from Macau. However, the COVID-19 pandemic and related restrictions have surfaced as obstacles in moving forward towards more palpable results. Additional measures and initiatives are in the pipeline and, quoting Chief Executive Ho Iat Seng, there is a need for a renewed approach to attain breakthroughs. As soon as we move on to a post-pandemic environment, those outcomes will likely come into fruition. In the meantime, on top of additional favourable measures and policies, ensured capital mobility and an improved legal framework might just do the trick.

GBA Roundup – Five Takeaways

1. GBA manufacturers “positive and confident” on future regional development – Report
Manufacturing companies are still full of confidence in the long-term development prospects of the Greater Bay Area (GBA), and the enterprises hold a more positive attitude about the future of the Chinese market than other markets, the “2022 Greater Bay Area Manufacturing Survey Report” indicated.

2. Ho calls for new approaches to seek Hengqin breakthroughs
Chief Executive Ho Iat Seng said those involved in the construction of the Guangdong-Macau In-depth Cooperation Zone in Hengqin should dare to try out new approaches in order to seek breakthroughs in line with with the “four new” strategic positions outlined in the Zone’s Master Plan.

3. Cooperation Zone in Hengqin to advance more measures to develop four major segments – Secretary Lei
More support measures will be rolled out to support the four major sectors in the Guangdong-Macau In-Depth Cooperation Zone in Hengqin, some of which will be available this year, said Macau Secretary for Economy and Finance Lei Wai Nong.

4. “As soon as we develop a model suitable for Shenzhen, we will be able to reopen to Macau” – Regina Ip
The Convenor of Hong Kong’s Executive Council talks on COVID policies, national security, the path towards economic recovery and regional integration.

5. Shenzhen-Jiangmen high-speed rail to be built by the end of September The whole line of Shenzhen-Jiangmen high-speed railway will officially start construction at the end of this September, according to an announcement made by the Department of Transport of Guangdong Province