THE Central authorities’ plan for building the Guangdong-Macao in-depth cooperation zone in Hengqin has been hailed as “major good news” for the Macao Special Administrative Region (SAR).

Hengqin is an area located in the southern part of Zhuhai City in Guangdong Province, just adjacent to Macao.

Experts from various sectors of Macao have told Xinhua that the plan will inject fresh vitality into Macao’s higher education, scientific research and development, the tourism and leisure industry, and finance.

“It will help enhance the sense of gain, happiness and security for residents at the Greater Bay Area, including Macao,” Ho Teng lat, president of the General Women’s Association of Macao, said.

Ian Soi Kun, chairman of the Macao Jiangmen Communal Society, said Macao should step up its efforts to invite outside investments on major projects in the industries of health, high-tech, exhibition, modern finance and culture and sports, in accordance with the strategic positioning and overall planning of the in-depth cooperation zone and on the basis of Macao’s practical situations.

Lao Chi Ngai, chairman of the Macao Economic Association, said the plan has set guiding policies on various fronts such as management system, industrial development, residential living and cross-border linkage, which gives clear directions coupled with maneuverability and flexibility.

Song Yonghua, rector of the University of Macao, said the plan will help Macao explore appropriate marketization for its higher education sector, which has long been held back by limited space and market.

“According to the plan, the cooperation zone will continuously improve the convenience of customs clearance between Macao and Hengqin, which will help promote cross-border personnel exchange and therefore, effectively stimulate the vitality of teaching, learning and scientific research,” said Song.

Experts from the tourism industry believed the plan will greatly benefit Macao’s tourism and leisure industry with its simplification of the cross-border flow of goods and personnel, investments and financing.

Wong Fai, president of the Macao Leisure Tourism Services Innovation Association, said the cooperation zone will provide bigger development space for Macao’s leisure and tourism industry employers and help push for the upgrading and transformation of the industry.

“Measures such as exemption of investment income tax will attract more small- and medium-sized enterprises (SMEs) to invest in the zone,” Wong said.

Ip Sio Kai, president of the Macao Association of Banks, said the plan laid out major arrangements for supporting the development of modern finance and cross-border finance, with the new policy of free flow of cross-border capital and convertible capital accounts between Macao and Hengqin being a major innovation in the financial industry.

“This will provide a broad market and powerful policy support for the future development of Macao’s financial industry,” said Ip. (Xinhua)