19th MIF a Resounding Success

19th MIF a Resounding Success
The 19th Macao International Trade and InvestmentFair (MIF) which was held from 23 to 26 October, onceagain with the theme “Co-operation – Key to Business Opportunities”. The event floor covered 30,000 square metres containing 1,900 exhibition booths, attracted exhibitors and trade visitors from a total of more than 50 countries and regions, with exhibitors from Indonesia and Peru taking part in MIF for the first time. During the four days’ exhibition, more than 40 conferences,meetings and promotional seminars were held, over 1,500 business matching sessions were organised and 130 project agreements were signed. The 19th MIF achieved a resounding success.

This October marks the 20th anniversary of IPIM and therefore on 22 October 2014, the eve of the 19th MIF, the Dinner Reception of 19th Macao International Trade and Investment Fair cum Celebration of the 20th Anniversary of Macao Trade and Investment Promotion Institute was held at the Macau Fishermen’s Wharf Convention and Exhibition Centre. IPIM has consistently worked to promote external trade and economic collaboration over the last two decades in its role as a government department designated to trade and economic promotion and attracts investment. By means of the development of the MIF platform,IPIM aims to assist local SMES to strengthen external networking and explore overseas markets and search for unlimited business opportunities.

Officiating guests at the opening ceremony were the Chief Executive of Macao Special Administrative Region Chui Sai On, Deputy Director General of the Liaison Office of the Central People’s Government in the Macao SAR Yao Jian, Deputy Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Macao SAR Feng Tie, Deputy Minister of Labour and Promotion of Employment of Peru Daniel Ysau Maurate Romero, State Secretary for Foreign Trade of Angola, Alexandre David de Sousa Costa, State Secretary of Planning and Regional Integration of Guinea-Bissau Degol Mendes, Vice Governor of the People’s Government of Jiangsu Province Fu Ziying, Vice Governor of the People’s Government of Hubei Province Gan Rongkun, Vice Governor of the People’s Government of Guangdong Province Zhao Yufang, Secretary for Economy and Finance of the Macao SAR Tam Pak Yuen, Chairman of AICEP Portugal Global Miguel Frasquilho, Vice Minister of the State Ethnic Affairs Commission Luo Liming, Vice Chairman of China Council for the Promotion of International Trade Lu Pengqi, Vice Chairman of All-China Federation of Industry and Commerce Su Zhigang and President of Macao Trade and Investment Promotion Institute (IPIM) Jackson Chang.

Diverse Exhibition Zones and Debut For the Pavilion For Food Products From Portuguese-Speaking Countries (PSCs)
19th MIF featured diverse types of themed exhibition zones. To foster the development of the business and trade service platform between China and PSCs, and be in line with the setting up of the Three Centres (“a commercial and trade service centre for SMEs between China and PSCs”,“a food product distribution centre for PSCs” and “a centre for conventions and exhibitions for economic and trade co-operation between China and PSCs”). The contents of the Portuguese-speaking countries exhibition area was further improved to include a Portuguese-speaking Countries Enterprises Zone covering 1,500 square metres and the Pavilion for Food and Beverage from Portuguese-speaking Countries. A Portuguese Speaking Countries Food and Beverages Networking Meeting was also conducted to strengthen the city’s role as a business and trade services platform, and promote the mutual benefits of Macao, Mainland China and PSCs.

Under the framework of Guangdong-Macao co-operation, two exhibition zones were set up to promote the two areas namely Hengqin in Zhuhai and Cuiheng in Zhongshan. The investment environment, development strategy and incentive policies were shown to enable business visitors and Macao enterprises to have a better understanding of the new areas and seek business opportunities. The Macao Flower Carnival, cultural and creative zone, Macao (Shenzhen) Electronics Fair, the Exhibition Area of Traditional Chinese Medicine (TCM) Health Industry and the Macao Fashion Festival exhibition area were set up also.

The Macao SMEs Exhibition Zone was again set up this time to assist SMEs to seek potential business opportunities. Participating enterprises showcased and sold their products including foods, electronics, jewellery,clothing and accessories and household products. Among the Overseas SMEs Exhibition Zone, enterprises from Indonesia, Madagascar,Mozambique, Nepal and Thailand showcased their goods including unique arts and crafts, food products, clothing and accessories, in order to explore new markets.

Business Matching sessions and high-level meeting to foster co-operation and networking
During the four days of MIF, more than 1,500 business-matching and project negotiation sessions were concluded, and over 130 project agreements were signed. Signatories of the agreements included representatives from Brazil, Mainland China, the Democratic Republic of the Congo, Hong Kong, Japan, Macao, Peru, Portugal, Singapore, Taiwan, the United States and Vietnam. The projects signed covered emerging industries including TCM, food and beverages, cultural and creative industries, tourism, retailing and sport. The wide range of coverage also highlighted the effectiveness of MIF in promoting Macao’s economic diversification. Judging from the contents and the diversity of the origin, they highlighted the role of MIF as an economic and trade platform and made use of Macao as a channel for opening overseas markets and promoting regional co-operation. The number of projects related to cultural and creative industries and TCM increased this year, highlighting the development of these two sectors in Macao.

Over 40 forums, conferences and promotion seminars were held during the four-day event, among which were the International Trade and Investment Forum 2014; the 11th World Summit of Chinese Entrepreneurs; the 4th Jiangsu-Macao-Portuguese-speaking Countries Business Forum; and Fujian, Macao and the Portuguese-speaking Countries Economic Exchange Networking Session, where industrial and business leaders from all over the world got together seeking business and developing opportunities.

“One trip, Multi-stop Service” to Attract More Business Visitors
19th MIF invited buyers, enterprises and visitors/merchants of thematic exhibition zones to take part and also again provided a “MICE through train service” and the “Incentives for Professional Exhibitors” to increase the attractiveness of MIF. Several buyers also set up counters at the venue. The service organised 1,100 business visitors and entrepreneurs from Fujian, Guangdong, Sichuan and Zhejiang provinces and three provinces from north-eastern China to conduct business matching with MIF exhibitors. MIF again provided a “One trip, Multi-Stop” service, to invite participants to the Canton Fair and Zhuhai Hengqin, Guangzhou Nansha for site visits on the investment environment of these places, with the aim of improving collaboration and encouraging regional trade and to go economic co-operation.

19th MIF Survey Results
IPIM appointed the Faculty of Social Science and Humanities from the University of Macau to carry out a survey during the event. A total of 2,544 valid questionnaires were collected, among which 1,071 were from professional business visitors, 471 from exhibitors, 848 from the general public and 154 from VIPs. Interviewees come from mainland China (45.59%), Macao (32.16%), Hong Kong (7.19%) and the remaining 15.06% were from other countries and regions.

Data revealed that interviewed exhibitors generally agreed that MIF is an effective tool to promote Macao’s economic growth, with an average score of 7.58. Interviewed exhibitors were generally satisfied with the booth arrangement of the 19th MIF, with an overall average score of 7.00 which is slightly higher than the 6.94 scored last year. 58.36% business visitors and exhibitors said that they would participate in MIF again next year. Of the general public interviewed, 31.7% said that the 19th MIF was better than the one last year. Interviewed VIPs commented favourably on Macao’s role as a trade and economic service platform between China and PSCs, as well as the contribution of the convention and exhibition industry in promoting Macao’s economy.

The 20th MIF will be held in Macao from 22 to 25 October 2015.