The Government of the Macao Special Administrative Region (SAR) of the People's Republic of China recently recommended that 50 projects settle down in the Hengqin New Area, Zhuhai Daily reported.

Back in April 2014, the Macao SAR Government recommended 33 projects to the managing committee of the Hengqin New Area for their possible landing in the Guangdong-Macao Cooperation Industrial Park.

Projects needed to meet the requirements of the area's development guidelines. The managing committee of the area decided whether to approve the projects after evaluating their business model and their investment capability. Macao Trade and Investment Promotion Institute and the managing committee will jointly organize field trips in Hengqin for representatives of these projects to learn more about the Guangdong-Macao Cooperation Industrial Park.

Among the 33 projects which were recommended in 2014, 16 projects have secured land use rights in the park. Their total investment is estimated to be about 80 billion MOP (about US$9.8 billion). These investments cover spheres like tourism recreation, cultural innovation, advanced technology, research and development in science and education, trade and logistics. 12 of these projects have started construction. Some of them are expected to be completed after two years.

The Macao SAR Government will maintain constant communication and coordination with the managing committee of the Hengqin New Area and continue to recommend projects to settle in the industrial park in order to encourage medium and small-sized enterprises and young start-ups in Macao to contribute to regional cooperation between Macao and Guangdong Province.

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