Macao approves firms to enter Zhuhai-Macao Cross-Border Industrial Park

The first group of firms were selected to enter the Macao part of the Zhuhai-Macao Cross-Border Industrial Park, a senior economic official announced Tuesday in Macao.

Francis Tam Pak Yuen, secretary for economy and finance said that a judging panel has selected 23 firms from 68 entries of applications, which will kick off earthworks in the park by the end of this month. "The selection was made for the best interest of the development of Macao's economy," he said.

The establishment of the park approved by China's State Council in December 2003 set a new example of cooperation between China's mainland and one of its two special administrative regions (SAR).

For the Macao SAR, it hopes that the industrial park would not only help it overcome its geographic limitations but also develop more diversified industries.

The 23 firms, 71 percent from Macao and 18 percent from Hong Kong and 3 percent from North America, are specialized in the production of textile, garment, drug, electric devices, gaming tools, food and environmental production industries. Among them, seven companies will build their own workshops in the park occupying a total area of 29,200 square meters, and 16 firms will rent government-built workshops occupying an area of 47,900 square meters, according to Tam.

He said that all earthwork are scheduled for completion before the end of March.

According to the project planning submitted by the firms, they will create 6,400 job vacancies and invest 800 million patacas (100 million US dollars) in the park.

The 400,000-square meters park built on a plot of reclaimed seashore has been designed to be managed as a bonded zone taking advantages of cheap labors in the mainland and Macao's facilitated trade access to the mainland as well as the markets in America and Europe.

As the economic integration in the Pan-Pearl River Delta deepens, more cases of cross-border cooperation between the mainland and the SARs will follow suit. One of such examples is the development of the Hengqin Island, the largest among over 100 islands in Zhuhai. A detailed blueprint for the exploration of the island will come out in the first half year, according to a senior Guangdong official earlier this year.

Source: Xinhua