The Centre for Macau Studies (CMS) of the University of Macau (UM) held a seminar on the Policy Address for the Fiscal Year 2024 of the Macao SAR today (15 November). Experts and scholars were invited to discuss the policy address and provide suggestions for the future governance of Macao. During the seminar, experts and scholars expressed their support for the objective of ‘Consolidate Development and Enhance Diversification’ of the policy address. They also believe that the ‘1+4’ strategy, Macao-Hengqin integration, as well as the development of various infrastructures are extensions of the policies of previous years, which can promote the future social development of Macao in an orderly manner.

Agnes Lam Iok Fong, director of UM’s CMS, chaired the seminar. Tong Kai Chung, president of the Macau Institute of Management, said that the main theme of the policy address is ‘Consolidate Development and Enhance Diversification’, which focuses on post-pandemic economic and social recovery and is in line with the global high-interest rate environment in the future. The policy address puts national security as the main priority, and the ‘1+4’ strategy has a clear layout with a reasonable arrangement catering to micro, small, and medium-sized enterprises, as well as the community economy. In addition, he suggested extending the community economy to other traditional communities, preventing the infiltration of gaming elements when revitalising the old areas, and taking full advantage of the neighbouring international aviation hub to attract international tourists. Kwan Fung, assistant professor in UM’s Faculty of Social Sciences (FSS), believes that the policy address conveys the message of striving for progress while ensuring stability. ‘Stability’ refers to safeguarding people’s livelihoods through welfare support, housing policies, and support for small and medium-sized enterprises, with an emphasis on consolidating the results of the post-pandemic economic recovery, thereby giving society greater confidence to forge ahead in the coming year. ‘Progress’ focuses on economic development, in particular how to take a step toward economic diversification. He also pointed out that in addition to giving further deliberation on emerging industries, the policy address also involves deepening the community’s understanding and participation in diversification, among which exploring measures to attract international tourists seems to be a relatively straightforward development path in the short term in 2024.

Lei Chun Kwok, associate professor in UM’s Faculty of Business Administration (FBA), is concerned about macroeconomic policies. He believes that the policies on land resources, human resources, investment attraction, and diversified industries, as set out in policy addresses over the years, are being implemented in an orderly manner in line with national strategies. With regard to attracting tourists in the future, the focus will be on expanding international tourist sources. He pointed out that the recovery of the tourism market in Northeast Asia, which has higher purchasing power, is still relatively slow after the pandemic, and the government should pay attention to the situation of the market concerned. In addition, in the current high-interest rate environment, the high cost of borrowing could have an impact on Macao’s bond market. Lok Man Hoi, associate professor in UM’s Faculty of Science and Technology (FST), is concerned about urban development policies. He said that the policy address covers the orderly development of the related projects mentioned in the previous edition. However, he pointed out there seems to be a contradiction between the ‘Northbound Travel for Macao Vehicles’ policy and the promotion of the popularisation of electric vehicles. The ‘Northbound Travel for Macao Vehicles’ policy may provide an incentive for the public to buy new vehicles; however, the electric vehicle market may not offer car models that satisfy their preferences. The proposal to ‘increase the proportion of new energy vehicles to 70 per cent’ mentioned in the policy address is a bold idea, which undoubtedly requires supportive policies. He also looks forward to the implementation and enforcement of environmental emission standards in the future.

Wong Seng Fat, associate professor in UM’s FST, analysed the policy address from nine aspects, namely the silver industry, urban planning, arts and cultural industries, sports industry, Chinese-Portuguese industry, tech industry, talent schemes, popularisation of science, and aviation logistics. Among these, he emphasised the cultivation and retention of core talent in various industries, issues related to production transformation and innovation, the effectiveness of the popularisation of science in middle schools and universities and the relevant product extension, as well as how to take full advantage of the logistics of airports and the Hong Kong-Zhuhai-Macao Bridge. Furthermore, he stated that the authority should expedite the construction of the fifth bridge to assist the Macao-Taipa Bridge in solving the development issues posed by urban development. So Siu Ian, associate professor in UM’s FBA, acknowledged the planning and development direction of industrial diversification and the ‘1+4’ strategy. However, she believes that relevant policies should be in place for further implementation. Regarding the development of the ‘City of Performing Arts’, she pointed out that Macao has an advantage in terms of venue and facilities, but it is necessary to conduct market segmentation and balance the development of personnel in the industry, so as to benefit the local market with international opportunities. As for the development of the ‘City of Sports’, she suggested that the market can be divided into ‘sports + culture’ and ‘sports + tourism’. This approach involves selecting sports projects with development potentials and strengthening corresponding supervision. With regard to invigorating old areas, the development of the six historical and cultural areas requires exploring the characteristics and cultural significance of each area and avoiding identical development plans. She added that it is necessary to take account of their impact on the daily lives of the public and conduct regular evaluations and reviews.

Lei Chin Pang, assistant professor in UM’s FSS, believes that the gaming operators’ efforts to revitalise the six historical and cultural districts have both benefits and drawbacks. On the positive side, the gaming operators demonstrate efficiency and proactiveness. However, there are also drawbacks, such as a lack of clear understanding of local culture and an effective platform to communicate with the public. In addition, an excessive focus on commercial elements in the revitalisation projects may negatively impact people’s lives and traffic in the city. Regarding the entertainment industry, Prof Lei believes that Macao has successfully nurtured talented individuals over the past decade, who have also achieved good results outside of Macao. The policy of establishing a ‘City of Performing Arts’ may focus on establishing related markets to attract these individuals to develop in Macao. Pun Chi Meng, executive director of Caritas Macau, expressed concern about the overall development and welfare of young people in Macao. He believes that, due to the future responsibility of taking care of the elderly, economic housing may not be young people’s preferred housing option. Moreover, the location of the Macau New Neighbourhood in Hengqin, and competition from talent from outside Macao are sources of worry for the young people. Therefore, Pun suggests that the government should pay more attention to the challenges they face. On a positive note, he pointed out that the government’s decision to permanently include an allowance for carers is beneficial to the social service sector.

Chan Kin Sun, assistant professor in UM’s FSS, pointed out that in addition to universal, targeted, and supplementary social security measures, the government can introduce more market-oriented social security measures. Examples of such measures include the recently introduced senior housing project, as well as financial products tailored for the elderly, such as reverse mortgages. There is also a need to align the senior housing project with urban renewal policies. Prof Chan also believes that for long-term development, Macao should focus on collaboration with cities in the western part of the Pearl River in the development high-tech industries in order to create more development opportunities for industries in Macao. Sou Kuai Long, assistant professor (by courtesy) in UM’s FSS, acknowledged the government’s focus on residents’ mental health. Data shows that despite the end of the pandemic, the tendency towards suicide has not declined, and the happiness and life satisfaction of young people in Macao remain below average. These indicate that people are still experiencing significant stress. Prof Sou expressed hope that relevant policies can be improved and implemented to address these concerns. In addition, he believes that the revision of the education system presents an opportunity to include content related to technology and the psychological wellbeing of youth in the curriculum. For example, the government may improve vocational and technical education to improve the perception of ‘technical workers’ among the general public, so as to encourage more young people to consider pursuing careers in these fields.