Banco Nacional Ultramarino and ICBC Macau partner for Portuguese-speaking countries

 

Banco Nacional Ultramarino bank and the Industrial and Commercial Bank of China (Macau) have signed a memorandum of understanding for the joint promotion of business between China and the Portuguese-speaking countries, according to a statement by the issuing bank.

 

The statement said that this collaboration is also intended to support the role of Macau as a financial platform for cross-border business between businesses and entrepreneurs from China and the Portuguese-speaking countries.

 

BNU noted that the Belt and Road and, particularly the area of the Great Guangdong-Hong Kong-Macau Greater Bay, which includes 11 cities, and the consolidation of Macau as a service platform between China and the Portuguese-speaking countries, “will generate numerous synergies that will translate into business opportunities in a wide number of sectors.”

 

The statement stressed that the current pandemic, although it will be a challenge for many companies in the months and years that follow, will also be an opportunity to adjust strategies and plans for the long term, in which the internationalisation of business and the diversification of markets will be crucial.

 

Speaking Monday in the presentation of the Government´s Lines of Action, Economy and Finance Secretary Lei Wai Nong said the financial sector has “objective conditions that contribute to the horizontal diversification” of the economy.  The pace of development in this sector, he added, “should be accelerated”, with the necessary “infrastructures of the modern financial sector improved and created”.

 

Photo of BNU headquarters, Macau | © Macao Magazine

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