The local government said yesterday that it will get a guaranteed 3.5 percent rate of return annually from the recently-established 20.01-billion-yuan Guangdong-Macau Cooperation Development Fund during its 12 year duration, regardless of any losses incurred in investment projects in the neighbouring province.
The local government said earlier this year that Macau will pay 20-billion-yuan (about 25 billion patacas) into the fund while Guangdong province will be responsible for carrying out the respective investment projects.
The local government also said yesterday that it will initially put two billion yuan into the fund.
Legislative Assembly (AL) President Ho Iat Seng (third from right) speaks as Secretary for Economy and Finance Lionel Leong Vai Tac (third from left) and lawmakers look on during a briefing of the Guangdong-Macau Cooperation Development Fund, organised by the Macau Monetary Authority (AMCM) at the Legislative Assembly building yesterday.
Photo: Government Information Bureau (GCS)
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