The Chief Executive, Mr Chui Sai On, today said Macao would continue to bolster efforts to make further contributions to the development of the Guangdong-Hong Kong-Macao Greater Bay Area and to the “Belt and Road” initiative.

Taking part in the development of the Greater Bay Area and the “Belt and Road” initiative would create more opportunities for the city to diversify and strengthen its economy, added Mr Chui.

Speaking at today’s plenary session of the Legislative Assembly, Mr Chui said the Government was looking into developing Macao as a training hub for tourism education, as a strategy to integrate the city further in the national development initiatives. He also pointed out Macao’s potential as a cultural hub and as a base for providing specialised financial services.

The Government pays great attention to the formulation of policy to help seize the development opportunities brought about by the development of the Greater Bay Area as well as by the implementation of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road (collectively known as the “Belt and Road” initiative).

The series of ongoing development plans would help boost regional cooperation. Besides the “Belt and Road” initiative and the development of the Greater Bay Area, plans helped advance Macao’s development prospects also included the proposal for transforming Macao into a world centre of tourism and leisure, and into a commercial and trade cooperation service platform between China and Portuguese-speaking countries (collectively known as “Centre and Platform” policies).

By joining the national development initiatives, Mr Chui said he was fully confident on the success of the Centre policy, given the support from national policies and the SAR Government’s increased regulatory coordination efforts and resource contributions to implement the policy.

Macao’s “Centre and Platform” policies, which also part of the nation’s development blueprint, were vital to ensure the city’s sustainability and further economic diversification. In that regards, the Government was actively pursuing the development goals outlined in the city’s first Five-Year Development Plan.

In addition, Mr Chui noted Macao signed last year an agreement with Shenzhen to press ahead with the development of the Greater Bay Area. In July this year, the Macao Government signed the “Framework Agreement on Deepening Guangdong–Hong Kong–Macao Cooperation in the Development of the Bay Area” with the National Development and Reform Commission, the Hong Kong SAR and the Guangdong province.

The signing of the Framework Agreement – witnessed by President Xi Jinping in Hong Kong – represented an important milestone for regional cooperation. The Macao Government was looking forward to jointly discuss implementation of the agreement with all parties involved, said Mr Chui.

Mr Chui additionally disclosed that the Government was working on policies to help the city’s micro-, small- and medium-sized enterprises (MSMEs) to seize the opportunities created by the national development initiatives.

Local MSMEs were an important sector of Macao’s economy, said Mr Chui. The Government has been providing strong support for the sector to enhance its competitiveness, as outlined in the city’s Five-Year Development Plan, he added.