Chief Executive Ho Iat Seng delivered a video speech at the opening ceremony of the Third Guangdong-Hong Kong-Macao Greater Bay Area Fair for Trade in Services today (31 Oct). He emphasised that Macao would seize the opportunities in the construction of the Greater Bay Area and the Guangdong-Macao In-Depth Co-Operation Zone in Hengqin, proactively aligning the development of the Greater Bay Area, and better serving the national high-level openness and high-quality development.

One Event in Three Venues

Themed on “Service Outsourcing +, New Engine of the Bay Area”, the Fair was held with the pattern of “One Event, Three Venues”. The main event venue was held in Zhuhai from 31 October to 1 November. Directed by the People’s Government of Guangdong Province, the Hong Kong SAR Government, and the Macao SAR Government, the event was jointly organised by the Department of Commerce of Guangdong Province, the People’s Government of Zhuhai Municipality, and the Commerce and Economic Development Bureau of the Hong Kong SAR Government and the Commerce and Investment Promotion Institute of the Macao SAR Government.

Promote the National High-level Openness, the High-quality Development and the Co–ordinated Development in the Area

In his speech, the Chief Executive quoted President Xi Jinping’s congratulatory message at the “2024 China International Fair for Trade in Services”, emphasising that China would insist on promoting high-quality development with a high level of openness. He pointed out that, Macao, based on its positioning of “One Centre, One Platform and One Base”, was actively integrating into the overall national development. By collaborating with various sectors to develop new productive forces, Macao’s status and functions in national economic development and openness would be continuously enhanced. As one of the four core cities in the Greater Bay Area, Macao has actively implemented the “1+4” strategy of the appropriately diversified development for Macao’s economy in recent years. In addition to optimising the integrated tourism and leisure industry, it has also strived to promote the development of the major industries, including traditional Chinese medicine and big health, modern financial services, high technology, convention, exhibition, trade, culture and sports.

In terms of services trade in the Greater Bay Area, Macao plays a vital role in connecting the mainland and international markets. Hence, Macao needs to enhance its own competitiveness and promote co-ordinated regional development.

Synergy between Macao and GBA: Helping Service Trade to Go Global

The Commerce and Investment Promotion Institute (IPIM) set up a 90-square-metre “Macao Pavilion” at the main event venue in Zhuhai to promote Macao’s business environment and the Investor’s “One-Stop Service”. In addition, IPIM also organised a delegation of 15 business executives and business association representatives from the fields of MICE, tourism and financial services to attend the fair to demonstrate Macao’s unique advantages in the Greater Bay Area’s services trade.

Since its launch in 2022, the influence of the fair has been gradually expanding. With the aim of promoting the development of services trade in the Bay Area, the event has built a platform for economic and trade co-operation between China and foreign regions, promoting Guangdong, Hong Kong and Macao to enhance their openness to the outside world, and helping service trade go global.

On 17 October, the sub-venue in Macao exerted its synergy with the “29th Macao International Trade and Investment Fair”, attracting nearly 150 companies and professionals from Guangdong, Hong Kong, Macao and the world, facilitating 43 business matching negotiations and attracting 21 domestic and foreign buyers in purchasing over US$210 million goods.

Chief Executive Ho Iat Seng delivering a video speech at the Third Greater Bay Area Fair for Trade in Services

The Third Greater Bay Area Fair for Trade in Services was held from 31 October to 1 November as a “Multi-venue Event” in three regions

IPIM set up a 90-square-metre “Macao Pavilion” at the main event venue in Zhuhai