CNFI group visits Hong Kong, Macao to seek biz opportunities

Taipei, Nov. 18, 2003 (CENS)--Earle J.S. Ho, chairman of the Chinese National Federation of Industries (CNFI), yesterday led a 13-member group to visit Guangdong Province of mainland China, Hong Kong, and Macao.

On the first leg of the tour, the CNFI visiting group yesterday called on Edmundo Ho Hau Wah, chief executive of the Macao Special Administrative Region (MSAR).

CNFI said it would set up a work committee with the Macao Chinese General Chamber of Commerce to assess investment objects Taiwan's businessperson can get involved in under the framework of the Closer Economic Partnership Arrangement already signed between mainland China and the MSAR.

When meeting with Ho Hau Wah, Earle Ho expressed CNFI members' strong interest to invest in Macao's manufacturing industry and take Macao as a springboard to enter the mainland market. At present, Macao authorities imposes a business income tax of only 15%, an incentive to Taiwanese investors. But Macao has some disadvantages in attracting foreign investments, such as power shortage and high power rates.

According to CNFI secretary general Y.K. Wang, Macao authorities has suggested that some potential investment subjects are suitable for Taiwanese investors. These potential investment subjects include value-added telecommunication service, conference and exhibition, real estate, jewelry, timepiece, chemicals, CD-ROM driver, and textile products. Still, Macao authorities most welcomes Taiwanese businessperson to invest in gaming and tourism industries there.

Tomorrow CNFI's Ho will go to Hong Kong to meet C.H. Tung, chief executive of the Hong Kong Special Administrative Region (HKSAR). CNFI will cooperate with the Hong Kong General Chamber of Commerce to set up a work team to assist Taiwanese businessperson in entering the mainland market by using Hong Kong and Macao as springboards.