Praia, June 6 (Inforpress) – The Macau businessman David Chow has signed a memorandum of understanding with the Cabo Verdean Government to open a bank in the archipelago, where he is also building a tourist resort with a casino.
The agreement was announced Monday by the Cabo Verde’s representative at the Forum of Economic and Trade Cooperation between China and Portuguese-speaking Countries, Mario Vicente, in a statement quoted by the Ponto Final newspaper website.
The signing of the document took place during the Summit on the Construction of a Platform for Services for Trade Cooperation between China and the Portuguese-speaking Countries on May 31. The memorandum was signed by Tania Romualdo, Cabo Verdean ambassador to Beijing, and David Chow, as chairman of the Legend Globe Investment Company.
The bank will be named Banco Sino-Atlantico and will be located at Praia with the objectives of “contributing to the development of the financial system of the Republic of Cabo Verde, supporting small and medium-sized enterprises in the country, facilitating local and international payments”and “support the monetary policy” of the Cabo Verdean Government.