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You are here: Página InicialPublications Issue 73 – Oct. 2019 FOCUSCultivating emerging industries

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Cultivating emerging industries

The Macao SAR Government will continue to develop the meetings, incentives, conferences and exhibitions (MICE) industry by attracting a greater number of quality conventions and exhibitions to Macao; supporting the interaction between MICE events and local economy; promoting mutual development of related industries such as MICE, catering and retail. Moreover, measures for consolidating and expanding the construction of the Traditional Chinese Medicine Science and Technology Industrial Park of Co-operation between Guangdong and Macao as well as expediting the entry of key projects and firms to the Industrial Park are also included in the Policy Address.

Regarding the cultural and creative industries, the Policy Address vows to strengthen efforts in its incubation, build more cultural venues, open more art spaces, launch a “Community Cultural and Creative Production Subsidy Scheme” and integrate culture and art into the daily life of the local community.

In order to cultivate the city’s featured finance industry, the Macao SAR Government will refine regulations for local financial organisations to develop financial leasing services to attract well-established foreign companies to set their bases in Macao, and to study the legislation of a trust law to promote Macao as a centre that handles businesses between mainland financial organisations and Portuguese-speaking Countries, transforming Macao into a “Financial Service Platform for China and Portuguese-speaking Countries” as well as a renminbi clearing centre for Portuguese-speaking Countries.

To promote the development of the city’s finance industry, the Macao SAR Government will exempt profit taxes on investment income from local bonds issued by Mainland China provincial governments and state-owned enterprises, as well as the stamp duty for issuing and acquiring the related bonds.

Additionally, the advantages of Macao’s maritime and terrestrial space, as well as its institutional advantages will be used to develop characteristic maritime industries.