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Motivated by favourable factors like the liberalisation of the gaming industry, the implementation of CEPA and the opening of various major convention and exhibition (C and E) venues, Macao’s C and E industry has witnessed rapid growth in recent years. Following the grand opening of the Venetian Macao’s Convention and Exhibition Centre, it is expected that the city will host an increasing number of major international exhibitions and conferences and further develop the international C and E business visitors market. The development of the C and E industry not only enables Macao to work in tandem with the international community, but also helps to motivate the growth of related industries. The logistics industry is among these and is closely related to the C and E industry and will also experience favourable opportunities for development following it’s growth.
LOGISTICS INDUSTRY HAS THE COMPETITIVE EDGE OF DEVELOPING IN A UNIQUE WAY
The development of Macao’s logistics industry is restricted by the city’s limited land area and the size of its population. However, it possesses innumerable advantages. Macao is a free port and an independent tariff zone with free circulation of capital and a low taxation system. Geographically, by leveraging it’s position to the Mainland, Macao has established a close liaison with the European Union, Portuguese-speaking countries and international organisations for Chinese entrepreneurs. Faced with competition from neighbouring areas, Macao’s logistics industry should make full use of these advantages and features to draw up a unique development pattern which best suits the local economic environment.
The logistics industry should cope with Macao’s policy of having gaming and tourism as flagship industries and gradually developing the city into an integrated destination for leisure, tourism as well as C and E. Under the dynamic growth of the gaming and tourism industries, the number of visitors to Macao has been surging and reached a record high of more than 20 million last year. The rapid growth of tourism resulted in enormous internal consumption with increasing demand in air, land and sea, cargo. In 2006, the value of import goods amounted to MOP 36.5 billion, a 16.6% increase compared to 2005 and standing for 2.24 times of the impot value of MOP16.3 billion in 1999, before the handover. The import figures for luxury goods such as watches and jewellery, clothing and furniture have recorded an average increase of 70% to 90%1. In consideration of the continuing growth in internal consumption, the Macao SAR Government has been actively working on policies and measures to improve and assist the development of the local logistics industry in recent years. For instance, in order to enhance efficiency, apart from the External Trade Regulations implemented in 2003, the Government is gradually introducing electronic systems at the borders to simplify customs clearing procedures. The Government is also supporting a series of expansion work to be carried out at Macao International Airport with the aim of enhancing the capacity and efficiency of handling goods. As far as the storage industry is concerned, the Government has also completed the reclamation and construction of infrastructural facilities at a site near the airport, to the east of Cotai Strip. It is expected to become an incentive for investors to set up logistics warehouses in the area.
1Source of data: Speech by Mr. Tsui Wai Kwan from the Macao Importers and Exporters Association, Journal San Wa Ou, 2007-04-04.
C AND E FOSTERS INTERNAL CONSUMPTION AND ENCOURAGES RAPID EXPANSION OF THE LOGISTICS INDUSTRY
Macao’s C and E industry has witnessed rapid growth in recent years with the completion of a number of major venues that provides the industry with growing hardware support. The logistics operations from the vigorous growth of tourism, C and E and hotel industries, as well as the launch of the Zhuhai-Macao Cross Border Industrial Zone has resulted in an enormous chain of supply and demand. Since the Government has been actively developing the C and E sector, it will also boost the development of Macao’s logistics industry.
The C and E industry can be considered a diversified industry as the different types of goods it is involved with and the different needs within the industry, such as the demand for storage and logistics support in the exhibition venues, provide development opportunities for the ‘third-party logistics industry’ in Macao.
REGIONAL LOGISTICS NETWORK BENEFITS MACAO’S C AND E DEVELOPMENT
Macao SAR Government has adopted a strategy of “establishing overseas international relations and regional co-operation” since the handover and aims to promote Macao as a regional trade and service platform, to further expand room for the development of moderate economic diversification. In view of the limitations faced by the logistics industry including the limited land area and resources, regional cooperation can strengthen the flow of the Macao’s logistics chain and enhance the competitiveness of the industry in the international market.Recently, the Government has reinforced co-operation with provincial and municipal governments on the Mainland and expanded the cooperation network with resounding success, with co-operation with the Pan-Pearl River Delta Region being the most rewarding of all. For instance, four co-operation agreements were signed between MSAR Government and the Shenzhen Municipal Government in 2005 to promote co-operation in areas such as trade, tourism and logistics. With the support of an advanced passenger and goods transportation system, a number of new transportation channels have been opened up for local logistics industry and provides further room for development.
The Zhuhai-Macao Cross Border Industrial Zone became a milestone in the economic co-operation between Zhuhai and Macao. The easily accessible location, 24-hour operations, as well as special access roads and other backup services, enable the industrial zone to provide direct services to Macao tourism and C and E industries. The Venetian Macao, one of the tenants of the storage and logistics centre in the industrial zone, makes use of the facilities to serve as a service centre in support of the hotels, retail and entertainment developments under the Las Vegas Sands Corporation. Mr. William P. Weidner, President and Chief Operating Officer of the Las Vegas Sands Corporation, said that following the opening of the Venetian Macao-Resort-Hotel and the ongoing developments along the Cotai Strip, a comprehensive logistics and storage services has become particularly important. The Zhuhai-Macao Cross Border Industrial Zone has best served the needs of logistical support and storage facilities of his hotels and C and E venues.2
2“Venetian Macao storage area in Zhuhai, well-prepared in the backup logistical system”, The First Financial and Economic Daily, 2007-07-06”
INTEGRATION AND IMPROVEMENT OF TRANSPORTATION NETWORKS TO PROVIDE A FULLY COVERED REGIONAL LOGISTICS CHAIN
While the C and E and logistics industries are interdependent, transportation is a pre-requisite component of the logistics industry. “The roads are clear so that goods can flow freely”, allowing for lower costs and enhanced competitiveness. Because of the land limitations, Macao has to look for more room to develop through different channels, particularly a new mass transportation system in order to strengthen the integrated service functions and therefore increase the effect of the local logistics industry. As such, the MSAR Government has been actively working on improving local transportation network facilities and the capacity of Macao’s transportation by air, land and sea and its links to infrastructure facilities, thus providing the necessary hardware facilities to foster the development of Macao’s logistics industry.
C and E development motivates logistics while the development of the logistics industry will support C and E. Although Macao’s logistics industry is still its infancy and lacks relevant expertise and professionals, many overseas enterprises have already observed the new trend in C and E development and established branch offices in Macao. This will help attract more experts and enhance the professional standards of the logistics industry in Macao. Looking to the future, the logistics industry will continue to seek opportunities to work with the C and E industry for integrated development and establish a network with counterparts in other regions, so as to explore more business opportunities.
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