The Heritage Foundation released today its 2009 Report on the Index of Economic Freedom, ranking Macao for the first time at 6th in the Asia-Pacific region and 21st among 179 economies worldwide.

The study covered 179 economies worldwide after assessing them on 10 economic freedom factors. Macao ranked markedly high in factors such as government size, trade freedom, monetary freedom, investment freedom and financial freedom.

The Foundation’s 2009 Report says that Macao is an open and vibrant free-market economy. The overall business environment is efficient and streamlined. Foreign investors are welcome to conduct business on the same terms as local business people. Its financial sector, in particular, is modern and competitive.

In the Asia-Pacific region, Macao just ranked behind Hong Kong, Singapore, Australia, New Zealand and Japan. In the global ranking of economic freedom, Macao ranked 21st and was classified as “mostly free”.

According to the Heritage Foundation, economic freedom is strongly related to good economic performance. Per capita incomes are much higher in economies that are economically free. Economies rated “free” or “mostly free” in the 2009 Index enjoy incomes that are more than double the average levels in all other economies.

Monetary Authority of Macao

13 January, 2009