The world economy remained strong in the first three quarters of 2007, but the momentum tended to slowdown in the fourth quarter; however, the economy of Macau was not much affected due to the support from Mainland China. Driven by the rapid development of the gaming and tourism sector, investment surged substantially and local consumption remained robust; as a result, the economic growth for 2007 was far higher than 2006.

GDP of Macao for 2007 was estimated at US$19.20 billion, up by 27.3% in real terms and the per-capita GDP amounted to US$ 36,357. GDP for the fourth quarter of 2007 recorded an increase of 22.1% in real terms; meanwhile, the rates for the first and second quarters were revised downward from 25.7% and 31.6% to 25.2% and 30.8% respectively, but that for the third quarter was revised upward from 30.9% to 32.2%; for 2006, the rate of growth maintained at 17.0%.

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Posted in Cotai Strip, Economy, Macau Business, Macau Casino, Macau General, Macau Government, Macau Investment, Macau Tourism No Comments »

As reported by Blog Macau Info, the Hong Kong-Zhuhai-Macau Bridge project may take 36-and-a-half years to break even, admitted the Governor of Guangdong Province.

Huang Huahua said in Beijing as a deputy to the National People’s Congress (NPC) that is currently being convened that the construction cost of the bridge may reach US$5.62 billion, while the ports and connection facilities will be assumed by the authorities of the three territories respectively.

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Posted in Development, Economy & Business, Infrastructure, Macau Business, Macau General, Macau Government, Macau Investment, Social and Politics No Comments »

Institutional Investor Conferences announces the 3rd Annual Macau Investment Forum, to be held February 21-22, 2008 at the The Venetian Macau Resort Hotel. Following with tradition, the 2008 Forum will bring together global investors, issuers, and gaming and entertainment professionals with their Chinese counterparts.

This event will offer participants unique, interactive and in-depth discussions on Macau’s gaming and lodging industries, real estate sector and tertiary services by offering expert insight into the financial and legal implications of these developments.

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Posted in Macau Business, Macau Events, Macau Gaming, Macau Investment, Macau Property, Macau Real Estate, Macau Tourism No Comments »

This year, the Mainland has announced a number of laws, regulations and policies on economics and trade which will come into effect next year. For instance, a new Enterprise Income Tax Law, Employment Contract Law, Anti-monopoly Law and processing trade policy will be implemented in 2008.

These policies will have an impact on Macau enterprises’ investment and business operations in the Mainland. As such, the Seminar on China Investment Policies 2007, co-organised by the Ministry of Commerce of the People’s Republic of China (MOFCOM), Macau Economic Services and Macau Trade and Investment Promotion Institute, will be held from 9:30 am to 12 noon on 14 December (Friday) at the Lotus Room located on 5th Floor of the World Trade Centre, Macau.

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Posted in Economy & Business, Macau Business, Macau General, Macau Investment, Social and Politics No Comments »

It was straight to business from the get-go at this year’s Macao International Trade & Investment Fair (MIF), with Macau and Zhuhai signing a US$4 billion deal to build a Japanese theme park in Zhuhai on Thursday, October 18.

Destination Macau has learned that Japanese movie production company, Micott & Basara Inc. are partnering with another major Japanese company to open a theme park in Zhuhai. The location and name of the “famous” Japanese partner has yet to be announced.

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Posted in City of Dreams, Economy & Business, Entertainment, Macau Events, Macau General, Macau Investment, Macau Tourism No Comments »

Over 250 real estate, tourism, banking and finance specialist are due to meet at the 2nd Annual Investment forum to be held in Macau on April 26 and 27 to discuss the present and future of the Macau economy, the meeting’s organizers said.

“This year’s Forum will discuss the factors that will determine the future of Macau as an international investment center,” said Institutional Investor Conferences (IIC), the international organization responsible for the meeting.

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Posted in Exhibition, Macau Business, Macau Events, Macau Investment, Macau News No Comments »