Hong Kong-Macau - Market Opportunities Hong Kong -Macau-Market Opportunities
Excellent prospects for U.S. suppliers: Leading export sectors for U.S. firms include electronic components, medical equipment and pharmaceuticals, aviation and airport equipment, transportation infrastructure, safety and security equipment, financial services, education and training services, travel and tourism services, retail, and consumer goods such as packaged food, wine, cosmetics, and toiletries. Smart city development initiatives being undertaken by the Hong Kong government also present opportunities for U.S. technology providers.
Hong Kong public infrastructure works valued at over US$10.2 billion are in various stages of planning or execution: Ongoing projects include the West Kowloon Cultural District, the University of Hong Kong Campus Expansion, Ocean Park amusement park enhancement, the Harbor Area Treatment Scheme, the Hong Kong-Zhuhai-Macau Bridge, multiple subway and light rail lines, and the Guangzhou-Shenzhen-Hong Kong Express Rail Link. New projects include the Hong Kong International Airport Expansion Plan and tourism infrastructure and city improvement plans. The Kai Tak Airport Redevelopment has been an ongoing project; however, due to the magnitude of the project there will also be new tenders.
Hong Kong-based private procurement: Hong Kong is home to a large number of procurement agents and purchasing offices. Many purchasing decisions for major projects and conglomerates in Macau, mainland China, or other economies are made in Hong Kong.
SelectUSA – Hong Kong serves as a priority market to attract foreign investment to the U.S.: Established in 2011 by Executive Order of the President, SelectUSA is a government-wide initiative to promote foreign direct investment (FDI) in the United States to create jobs, spur economic growth, and promote American competitiveness. SelectUSA works in partnership with state, regional, and local economic development organizations to promote FDI into the U.S. and works on behalf of the entire nation, exercising strict geographic neutrality. SelectUSA chose 10 pilot markets, including Hong Kong, to initiate the program in 2012, because of the territory’s special role as a commercial and financial hub through which over 60 percent of China’s overseas investment flows. SelectUSA can work with locations in the U.S. interested in attracting FDI and with FDI-support service providers (such as consultants, law firms, financial service providers, etc). For enquiries, please visit http://selectusa.commerce.gov/ or contact: (202) 482-6800 / (852) 2521-1467 in Hong Kong.
Macau
U.S. exports to Macau. In 2016, U.S. capital goods, and fuel and lubricants (in comparison with 2015) dropped by 30.8 percent and 45.31 percent, respectively. Consumer goods and raw materials/semi-finished products dropped by 15.21 percent and 53.16 percent, respectively.
Specific U.S. export opportunities. The recent expansion of Macau’s hospitality sector has created demand for food/beverage products and services and related hospitality consumables. Other opportunities include: gaming equipment; architectural services; energy-efficient lighting, HVAC systems, and “smart building” systems; recreational and sports equipment; security equipment; hotel, restaurant, and resort management training services; computer and financial software; and meetings, incentives, conventions, and exhibitions (MICE) services such as exhibition and event planning.
Major projects. Among the ongoing private and public projects are the development of the Cotai Strip (Las Vegas Sands added 5,800 additional rooms to three new hotels; neighboring competitor, Hong Kong-based SJM and Galaxy Entertainment, MGM Macau, and Wynn also planned to add new facilities), a new Light Rail Transit System, and the Hong Kong-Zhuhai-Macau Bridge. New projects include the Pac On Ferry Terminal.
Hengqin Island and Regional Development in Zhuhai, PRC. Hengqin Island in Zhuhai, adjacent to Macau’s Taipa and Coloane islands, is being developed by several investors who are also currently building projects in Macau. A number of planned projects have been reported in the press, including resorts, hotels, integrated retail and convention centers, luxury villas, education facilities and other services areas in Hengqin and elsewhere in Zhuhai. Notably, these projects will not include gaming facilities. The GOM finished a full-scale relocation of the University of Macau to Hengqin Island in August 2014. With focused planning and support from Beijing, Hengqin could help diversify Macau’s own economy beyond gaming.