IPIM: Sam Hou Fai’s Portugal–Spain tour expected to spur new investment, partnerships

The current official tour of Chief Executive Sam Hou Fai through Portugal and Spain is expected to generate new investment prospects and business partnerships, according to the president of the Commerce and Investment Promotion Institute (IPIM).

Alex Che, president of Macau Commerce and Investment Promotion Institute, stated on Sunday that the 120-member business group accompanying the SAR leader consists of top executives from major firms based in Macau, Hengqin, and the mainland. Several of these companies are among China’s 500 largest enterprises. The delegation emphasizes three key industries: wellness, advanced technology, and cross-border e-commerce.

“We would like to see Portuguese tech firms new to the market expand into China,” Che said. He noted that discussion panels and networking gatherings in Lisbon will allow attendees to learn more about the favorable conditions and strategic benefits offered by Macau, Hengqin, and the Greater Bay Area.

Around 40 preliminary agreements are anticipated to be finalized during Sam’s time in Lisbon. These initial pacts cover sectors including commerce, education, heritage, tourism, vocational training, healthcare, and innovation. Che added that these represent a starting point for collaboration that could lead to further commercial interactions down the line.

Official figures from the Statistics and Census Service show that Portugal continues to be a key contributor of foreign direct investment flowing into the region, with total investment standing at MOP10.29 billion. This accounts for close to one-fifth of all incoming direct investment, excluding funds from Hong Kong, mainland China, and two major offshore financial centres.

Meanwhile, data indicates that two-way trade between Macau and Spain recovered in 2023 following the pandemic downturn, though it has since softened.