Remarks by Consul General Kurt W. Tong
American Chamber of Commerce in Macau Spring Cocktail
April 17, 2019
(as prepared for delivery)
Good evening, ladies and gentlemen. Allow me to extend my thanks to all the members of AmCham Macau for inviting me and my team from the Consulate to this excellent event.
Greetings also to the representatives of the Macau SAR Government and the Central Government attending tonight. And my thanks and appreciation to the Wynn Palace for its fine hospitality at this beautiful venue.
I would like to congratulate Paul Tse and the entire AmCham Macau Board of Governors for your great work in Macau, including your strategic advice to U.S. companies and your advocacy on important projects here.
I have said often that what the world has witnessed here should be called the “Macau Miracle.” This city has accomplished so much in its recent development. Any economy which already has high incomes, but can grow 9% in one year, is truly miraculous.
I believe that U.S. companies are also making a major contribution to the growth and diversification of Macau’s economy. U.S. investment in Macau over the past decade is estimated at more than $20 billion. It is especially notable that U.S. firms are steadily reinvesting their profits in the city.
Going forward, we believe that the Greater Bay Area Initiative has the potential to create many more opportunities in Macau and the surrounding area. There is a wide range of exciting business opportunities for U.S. firms, Macau firms and Mainland China firms as the Pearl River region’s economic integration accelerates.
I know that AmCham Macau will play an important role in these developments. I also believe that U.S. companies and organizations back home are taking notice of the positive developments taking place in Macau and the Greater Bay Area, and eager to learn more. There seems to be particular potential in areas such as clean energy and medical services. We are also keen to foster deeper cooperation between the United States and Macau in higher education.
Thank you all for your support and attention, and I hope you all enjoy the evening.