BEIJING, Dec. 20, 2024 /PRNewswire/ — With cheerful vibes in the air, China’s Macao Special Administrative Region (SAR) on Friday held a gathering to celebrate the 25th anniversary of Macao’s return to the motherland and the inaugural ceremony of the sixth-term government of the Macao SAR.

Addressing attendees, Chinese President Xi Jinping said the great achievements of Macao since its return have proven to the world that “One Country, Two Systems” has prominent institutional strengths and tremendous vitality.

The values of peace, inclusiveness, openness and sharing embodied in the policy are common to China and the rest of the world, and deserve to be jointly safeguarded, Xi added.

‘Tremendous success’

Xi hailed the enormous transformation that has taken place in Macao since its return to the motherland in 1999, saying the practice of “One Country, Two Systems” with Macao characteristics has been a tremendous success.

In 2023, Macao’s GDP amounted to approximately 379.5 billion MOP (around $47.4 billion), an increase of seven times compared to 1999, while per capita GDP had more than quadrupled to around $70,000. On Forbes magazine’s 2024 list of the world’s richest places, Macao ranked first in Asia and second globally.

The city boasted an average life expectancy of 83.1 years in 2023, up from 77.9 years old in 1999, among the highest globally. Its unemployment rate has averaged below 2 percent since 2012, signaling nearly full employment.

Tourism has also expanded dramatically, from 6.6 million visitors in 1999 to 39.4 million in 2019. By December 7, the city had welcomed over 32 million tourists this year – a 26 percent increase compared to the same period last year. The number is expected to hit 33 million by year’s end.

‘New stage’

Stressing that the practice of “One Country, Two Systems” has entered a new stage, Xi on Friday called on the new SAR government to promote the appropriate diversification of the local economy, improve governance efficiency, build a platform for higher-level opening up, and safeguard social harmony and stability.

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Under the “One Country, Two Systems” framework, Macao SAR enjoys distinct advantages, including its status as a free trade port, a separate customs territory, and a simple and low-tax environment. The World Trade Organization recognizes Macao as one of the most open economies in the world for trade and investment.

China’s central government has taken into full consideration the SAR’s unique position, encouraging it to integrate into the national development strategy and ensure it plays a better role in the nation’s opening up. Cooperative mechanisms and infrastructure – such as the Guangdong-Hong Kong-Macao Greater Bay Area, the Hong Kong-Zhuhai-Macao Bridge and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin – have provided Macao with development headroom and rich opportunities.

With support from the central government, Macao has signed nearly 60 agreements with foreign countries and established robust economic, trade and cultural ties with over 120 countries and regions. The number of international organizations and institutions Macao participates in has increased to more than 190, and it has secured visa-free or visa-on-arrival access to 147 countries and regions. It also has 13 sister cities.

Meanwhile, Macao’s contribution to the Belt and Road Initiative has injected new vitality into the global economy. In 2023, the value of goods delivered by Macao to Belt and Road partner countries reached MOP 770 million, up 47.8 percent year on year, and the value of imports from the Belt and Road partners was MOP 30.92 billion, up 18.0 percent year on year.

Last year, Macao and Hengqin formed a joint delegation to go abroad to attract investment. Nearly 350 business matchmaking meetings were held in Singapore, Malaysia, Indonesia, Portugal, Spain and other countries, and 17 cooperation agreements were signed.

In his speech, Xi voiced confidence that Macao SAR will open up new horizons for development and keep creating new glories, as long as “One Country, Two Systems” is comprehensively, accurately and unwaveringly implemented.

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SUEZ, Egypt, Dec. 20, 2024 /PRNewswire/ — On December 16, 2024, EliTe Solar, a leading solar PV manufacturer headquartered in Singapore, held a groundbreaking ceremony for its new project in the Egypt TEDA Suez Economic and Trade Cooperation Zone, marking a major milestone in the company’s global strategic expansion. The facility has a planned capacity goal of 5GW, spanning an area of 78,000 square meters. The project is scheduled to begin production in September 2025, featuring 2GW solar cell and 3GW solar module production lines.

At the ceremony, distinguished guests, including Mr. Waleid Gamal Eldien, Chairman of the Suez Canal Economic Zone, Arab Republic of Egypt; Mr. Ouyang Xiaoming, First Secretary of the Chinese Embassy in Egypt; Mr. Li Daixin, Chairman of China-Africa TEDA Investment Co., Ltd.; and Mr. Liu Jingqi, Chairman of EliTe Solar, gathered to engage insights and discuss the future development prospects of the project.

“The launch of this project represents a major milestone in the development of Egypt’s solar industry,” stated Mr. Waleid Gamal Eldien, Chairman of the Egypt Special Economic Zone Authority. “By introducing advanced solar manufacturing technologies and optimizing local supply chains, this initiative will raise Egypt’s overall manufacturing standards. EliTe Solar’s advanced solar technology and managerial expertise will further enhance our global standing in solar power industry.”

This project brings advanced energy manufacturing technologies to Egypt, driving the local solar industry supply chain and boosting Egypt’s export capabilities and global influence in the solar market. It provides fresh momentum to the local economy and acts as a key driver in supporting Egypt’s 2030 renewable energy goal of achieving 42% clean energy transformation.

“This project not only strengthens Egypt’s solar industry but also positions the country as a key solar manufacturing hub in the Middle East and North Africa (MENA). It enhances supply chain capabilities while providing crucial support for global renewable energy growth,” said Li Daixin, Chairman of China-Africa TEDA Investment Co., Ltd.

Considering the recent power shortages and blackouts experienced across Egypt this year, which highlight strong future demands for electricity, there is an urgent need for a diversified energy architecture to ensure energy independence. This project perfectly addresses these needs by delivering sustainable solutions through renewable energy resources. Once completed, the project will generate 500 million kWh annually, save approximately 307 million tons of standard coal, and offset carbon emissions equivalent to planting 84 million trees.

Liu Jingqi, Chairman of EliTe Solar stated, “The launch of the Egypt project not only demonstrates our expertise in technological innovation and industry integration but also underscores EliTe Solar’s mission to lead global renewable energy development. Together with our partners, we are building a greener future and setting new benchmarks for the global energy transition.”

Since its inception, EliTe Solar has established several manufacturing hubs in countries including Vietnam, Indonesia, and Egypt, thus solidifying its international industrial presence.  Moving forward, EliTe Solar will continue driving energy transformation through high-quality technology exports, further contributing to global sustainable development.

About EliTe Solar

Founded in 2005, EliTe Solar is committed to becoming a leading global supplier of photovoltaic systems by enhancing customer service, driving customer success, and boosting profitability. EliTe Solar has a proven track record of delivering over 10GW of solar modules globally. We provide intelligent solar solutions for utilities, commercial and industrial clients, and residential customers worldwide. Our approach centers on optimizing the Levelized Cost of Energy (LCOE) to maximize value while minimizing risk, empowering our customers to gain a competitive edge in the global market. With a strong brand presence and large-scale manufacturing capabilities, EliTe Solar has built a fully integrated business model-from silicon wafers and cells to modules-advancing vertical integration in the photovoltaic industry. Discover more about our offerings at www.elite-solar.com.

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SINGAPORE, Dec. 20, 2024 /PRNewswire/ — Nucleus Software, India’s leading provider of robust digital lending and transaction banking solutions to the global financial services industry, today announced the appointment of Mukul Agrawal as Regional Sales Head for South East Asia (SEA). With over three decades of extensive sales experience across the SEA region, Mukul brings deep expertise in fintech solutions, including core banking and lending.

Mukul’s expertise spans driving business growth, crafting innovative solutions for financial institutions, and implementing strategies that enhance operational efficiency and customer experience. As SEA accelerates its digital transformation in financial services, Nucleus Software, with more than 30 years of expertise in banking technology, continues to empower banks and financial institutions with innovative solutions that drive seamless, customer-centric banking experiences to meet the evolving needs of this dynamic market.

“We are delighted to welcome Mukul Agrawal to the Nucleus Software family. With his extensive experience and deep expertise in financial services industry, Mukul will be a key driver in our efforts to strengthen our presence in SEA. His leadership will be crucial in accelerating our growth and ensuring that we continue to lead the way in delivering innovative, customer-centric solutions to the financial services industry,” said Vishnu R. Dusad, Managing Director and Co-founder of Nucleus Software.

This strategic appointment aligns with Nucleus Software’s ongoing initiative to enhance its global sales organization, ensuring a consistent customer experience while expanding market reach. The company is also intensifying its on-the-ground presence across SEA to better serve its clients. In his new role, Mukul will lead business expansion and manage the product portfolio, applying his strategic vision and customer-focused approach to drive the region’s digital transformation in financial services.

“I am thrilled to join Nucleus Software, a pioneer in delivering transformative solutions for the global financial services industry. I look forward to collaborating with the exceptional teams across SEA to accelerate growth, deepen client partnerships, and deliver innovative, future-ready solutions. Together, we will explore new opportunities and drive impactful outcomes for our customers in the region. Guided by the core principles of integrity, innovation, and customer-centricity, we are committed to delivering solutions that build trust and create long-lasting value,” said Mukul Agrawal, Regional Sales Head – SEA, Nucleus Software.

Mukul is an accomplished professional with an MBA from the prestigious IIM Ahmedabad and a B.Tech. A lifelong learner, he combines academic excellence with a passion for personal growth. Outside of his professional endeavors, Mukul is an avid sports enthusiast. His hobbies include golfing, swimming, and maintaining a robust fitness regimen. He is also keen on exploring new technologies, reading, and traveling, which help him stay well-rounded and inspired both personally and professionally.

For more information, please visit: www.nucleussoftware.com

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