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Hengqin to roll out plans to attract Macao residents and businesses

Inducements include subsidies for investors and rewards for highly qualified young workers; plans for convention and exhibition centre also mooted.

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Inducements include subsidies for investors and rewards for highly qualified young workers; plans for convention and exhibition centre also mooted.

ARTICLE BY

PUBLISHED

UPDATED: 22 Dec 2023, 4:40 am

Preferential policies benefiting Macao residents living and working in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin will be released in the first half of 2022, according to the zone’s Economic Development Bureau.

Subsidies will be given to Macao businesses investing in Hengqin, while young employees from Macao working full-time in the zone will be rewarded according to their academic qualifications. Hengqin companies hiring personnel from Macao are also eligible for financial support. 

The convention and exhibition business is one of the four major industries that Hengqin has prioritised for future development.

Incentives will be offered for the construction of a large-scale platform with global influence to address the lack of such venues in Hengqin, handle cross-border convention and exhibition events and bolster development of the industry. 

The upcoming policies will also facilitate the entry and exit of Macao single-plate vehicles in Hengqin.

Currently, the quota has been increased to 10,000, and new policies will be promoted to allow more Macao private vehicles access in the cooperation zone.

Hengqin will also consider formulating policies for approving Macao operating motor vehicles to engage in cross-border transportation on the island, according to Lin Yanjie, a section chief at the zone’s Economic Development Bureau.

 

UPDATED: 22 Dec 2023, 4:40 am

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