World Country Guide

Business Profile

Economy
Macau has long been an important distribution outlet for Chinese products and, in this respect, is similar to Hong Kong. Agriculture is negligible and there are very few natural resources (Macau relies almost entirely on imported oil to meet its energy needs.) The territory has an active manufacturing and export sector, the main products of which are textiles, toys, optical products, rubber, ceramics, china, furniture and footwear. Macau is also well known in the region for its extensive gambling facilities: the associated tourism has become a major source of income. Together, gambling and tourism account for about two-thirds of Macau’s GDP. Trade between Macau and the neighbouring Chinese Special Economic Zone of Zhuhai has grown rapidly and contributed substantially to Macau’s present trade surplus. However, key infrastructure projects (notably the new airport and the Nam Van land reclamation project) have, in different ways, fallen far short of expectations. China, Hong Kong and the USA are the territory’s major trading partners. The Sino-Portuguese agreement, under which Macau reverted to Chinese rule in December 1999, guarantees the continuation of Macau’s economic status for a minimum of 50 years. Macau’s currency, the Pataca, has been retained indefinitely.

Business
Businesspeople are expected to dress smartly. Calling cards are essential, appointments should be made in advance and punctuality is appreciated. The World Trade Centre (16th Floor, 918 Edificio World Trade Centre, 918 Avenida da Amizade (tel: 727 666; fax: 727 633; e-mail: wtcmc@macau.ctm.net) offers assistance and various facilities for businesses, including a VIP Club restaurant. Office hours: Mon-Thurs 0900-1300 and 1430-1745, Fri 0900-1300 and 1430-1800.

Commercial Information
The following organisation can offer advice: Associao Comercial de Macau, 16th Floor, Edificio ACM 5, Rua de Xangai 175 (tel: 576 833; fax: 594 513).

Conferences/Conventions
Macau’s major meetings venues include the Conference Centre at the University of Macau (with seating for up to 764), the Forum (a multipurpose complex with seating for up to 4035), the Tourist Activities and Conference Centre (with seating for up to 600) and Macau Landmark (featuring a unique ‘skyroof’). The majority of hotels also have facilities, and support services can be provided by the World Trade Centre (see above). A new cultural centre (website: www.ccm.gov.mo) was inaugurated in March 1999 on the Outer Harbour waterfront. It includes two auditoria, one seating 1200 people and the other 500 people. The territory’s newest convention venue is the conference centre in the Macau Tower, the world’s 10th tallest building (website: www.macautower.com.mo). The tower also features a revolving restaurant, an entertainment area and shopping facilities. For further information, contact the Macau Government Tourist Office (see Contact Addresses section).