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Over 2,600 investment residency
applications received in 2008
Macau received 2,688 investment residency applications in
2008, according to the Sar’s Trade and Investment Promotion
Institute (IPIM). 2,072 were fixed asset applications, 596
were applications of managerial personnel, technical and
professional qualification holders, and 20 were renewal and
extension applications for family members. Of those cases,
2,492 were approved, with 1,852 concerned fixed assets
purchase, 618 applications for managerial personnel, technical
and professional qualification holders, and 22 renewal and
extension applications for family members.
Trade deficit exceeds 24 billion
patacas in first 11 months
according to the Statistics and Census Service (DSeC),
Macau’s trade deficit for the first 11 months of 2008 reached
24.57 billion patacas. Total exports of goods fell 18.7 percent to
15.12 billion patacas while total imports of goods rose slightly
by 0.9 percent to 39.69 billion patacas. exports/imports ratio
dropped from 47.3 percent in 2007 to 38.1 percent in 2008.
Textile and garment exports declined 28.7 percent while
non-textile exports grew slightly by 0.1 percent. The value
of merchandise exports to the uSa, Chinese mainland and
the european union decreased 18.7 percent, 36.6 percent
and 56 percent respectively, but that to Hong Kong rose by M
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22.1 percent. additionally, the value of imports from Chinese .
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mainland and Hong Kong amounted to 19.75 billion patacas,
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49.7 percent of the total imports in that period.
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K
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Chinese VP urges Macau to diversify
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S
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Chinese Vice President Xi Jinping has urged Macau to diversify
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its economy amid falling tourist numbers and the global financial
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crisis. With gambling constituting as the main source of revenue,
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Xi said that room should be left for adequate diversification and
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the handling of development and conservation. Xi also stated
that the development of the Chinese island of Hengzin, just off
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the Cotai Strip area, could provide room for Macau’s broader
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development. However, Xi made no promises about a relaxation
City of Dreams hands retail
of restrictions of mainlanders visiting Macau.
reins to DFS
HK number one in economic freedom
DfS has been named the official retail operator for City of Dreams’
phase one retail area. according to developer Melco Crown,
according to the 2009 Index of economic freedom, Hong
DfS has a proven track record in client servicing, with extensive
Kong is still the world’s freest economic entity, representing the
experience across the world and a deep understanding of the core
15th consecutive year it has earned the number-one position.
customer demographic. The retail area is set to open in the first half
released by the Heritage foundation and the Wall Street
of 2009 and will feature The boulevard, a ‘lifestyle precinct’ offering
Journal, grading included business freedom, trade freedom, and
a combination of regional and international dining, shopping, and
labour freedom, with marks ranging from 0 to 100. a score of 80
entertainment. 85,000 square feet of retail area will be filled with
to 100 means the economy is free and a score less of 50 means
world renowned designer fashion wear, accessories, jewellery, and
the economy is repressed. Macau, Singapore, Japan, and
beauty in their own distinct zones.
Taiwan were in the top five freest economies in asia. Mainland
China came 132nd, with a score of 53.2.
TPI up 11.13% in 2008
AirAsia launches Penang-Macau
Macau’s average Tourist Price Index (TPI) rose 11.13 percent
in 2008, with market increases in the indices of miscellaneous
route starting March 1 this year
goods, restaurant service, clothing and footwear, according to the
Low cost carrier airasia will launch a new international flight
Statistics and Census Service (DSeC). for the above mentioned
route from Penang to Macau starting on March 1, 2009. It will
indices, they rose 22.45 percent, 14.72 percent, and 10.33 percent
include four direct weekly flights from Penang and three direct
respectively last year. TPI indicates price changes in goods and
weekly flights from Macau. In a statement from airasia, the
services and is based on the consumption pattern of visitors. The
one-way minimum fare is rM49 which is rougly 109.4 patacas.
final quarter of 2008 saw surges in the price indices of restaurant
bookings are available online via its website from January 19-
service, alcoholic drinks and tobacco, and clothing and footwear
25 for travel between March 1 and October 24, 2009. all in all,
by 13.53 percent, 11.66 percent, and 11.08 percent respectively.
airasia now has flight routes via Macau to Indonesia, Thailand,
DSeC states that this is attributable to rising restaurant, alcoholic
China, and within the Peninsular Malaysia.
beverages, tobacco, and general clothing prices.
february 2009
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