Macao is the “culture city” of a region that will reshape Asia, says a top Saudi Arabian diplomat.
Abdullah bin Abiyah, the Gulf nation’s consul general in Guangzhou, told the South China Morning Post that the Greater Bay Area was “the future of Asia,” and that within it “Shenzhen is the tech city, Hong Kong is the financial city and Macao is the culture city.”
His comments come as Beijing and Riyadh boost business ties, signing 30 cooperation agreements last month with a total value of US$10 billion in sectors spanning renewable energy, agriculture and mining.
[See more: Shenzhen announces an ambitious AI plan for the Greater Bay Area]
“If companies ask us where they should bet their money in China, we’ll say the Greater Bay Area,” Abiyah told the Post. “The region will be competitive in the future compared with other bay areas, with its vast population.”
However, the diplomat cautioned that different tax regimes, policies and currencies between Macao, Guangdong and Hong Kong presented roadblocks to businesses.
“I attended an annual conference about the Greater Bay Area in Nansha, and participants discussed these obstacles,” he said, believing there could be progress “by 2025.”
