CE calls for joint effort to boost community’s economy
Government Information Bureau
2024-04-17 02:10
  • The Chief Executive, Mr Ho Iat Seng, attends a plenary session of the Legislative Assembly to answer Legislative Assembly members' questions on Government policy and social issues.

  • The Chief Executive, Mr Ho Iat Seng, attends a plenary session of the Legislative Assembly to answer Legislative Assembly members' questions on Government policy and social issues.

The Youtube video is unavailable

The Chief Executive, Mr Ho Iat Seng, stated the Government would review the effectiveness of collaborative efforts with business associations, namely efforts that were aimed at boosting consumption in the community. On the basis of balancing the economic development of tourist areas and residential areas in Macao, the Government would explore the possibility of launching further supportive measures.

Mr Ho made the remarks on Tuesday (16 April) at a plenary session of the Legislative Assembly, to answer Assembly members’ questions on Government policy and social issues.

The Chief Executive noted that Macao’s economy was recovering and improving. While business in tourist areas was thriving, there was still insufficient flow of people spending in residential areas during weekends, particularly in the Northern District near checkpoints connecting to Zhuhai. Therefore, the Government, in collaboration with Macao Chamber of Commerce and neighbourhood business associations, was organising a pilot programme to boost consumption in the Northern District, he said.

The Government’s resources were limited: businesses should not rely on Government support in the long run. The current challenge primarily was in the lack of a sufficient base of active consumers, and insufficient confidence in the economy among the general public. This had impacted their spending, according to Chief Executive.

The Government would need to evaluate the effectiveness of the Northern District initiative, before studying the possibility of launching similar initiatives in other districts, said Mr Ho.

The Chief Executive also mentioned that the Hotel Establishment and Operation Law provided favourable conditions for investment in economy-standard accommodation, which could contribute to the expansion of source markets regarding visitors to Macao. Meanwhile, the Government would continue to promote the revitalisation of Macao's historic areas in collaboration with the city’s six integrated resort and leisure enterprises, aiming to attract more visitors to these areas. He called on business owners to think creatively and introduce a greater number of products that cater to tourists, thereby attracting more spending from them.

Regarding the integration between Macao and Hengqin, Mr Ho stated that the Guangdong-Macao Intensive Cooperation Zone in Hengqin was strongly linked to Macao's development. A system for a register of Macao's engineering professionals had already been implemented in the Cooperation Zone. A series of regulations facilitating practise within the Cooperation Zone by Macao medical and technical professionals, either had been, or would soon be, introduced.

Mr Ho stated that matters related to people’s livelihoods would be prioritised in the integration between Hengqin and Macao. The Macao New Neighbourhood project served as a showcase: further efforts were being made to ensure aspects such as education, television services, telecommunications, and international Internet connectivity, would be equivalent to those in Macao. The goal was to achieve a seamless experience when entering Macao New Neighbourhood, as if being in Macao. This included adopting Macao's model for community management, and allowing residents to bring their own food, plants and pets across the boundary with Macao. The Government strove to develop other suitably-favourable policies. For example, the Government was studying whether to establish greater provision of public healthcare that could also make available in Hengqin for Macao residents commonly-used medications. The Cooperation Zone’s Executive Committee was thoroughly studying the matter, including how to streamline relevant work.

The Chief Executive noted that 2024 marked the first full calendar year of implementation of the "1+4" appropriate economic diversification strategy. The Government would step up effort in strengthening synergy between Macao and Hengqin in cultural and tourism matters; and in jointly launching diverse tourism activities and products.

It was expected that there would be detailed information related to policies — to be issued soon — for allowing mainland tourist groups to make multiple crossings between Hengqin and Macao in the course of a tour. Macao would work with the Cooperation Zone management to promote outbound tourism.

The Chief Executive said the Government had continuously supported and promoted sports development; hosting of international events in Macao; and facilitation of the coordinated development of the integrated tourism, leisure, and sports industries. This year, nearly 20 major sports events had been planned, with the aim of increasing the number to 24 before year end. That would mean an average of two events per month. Additionally, efforts would be made to enhance sports and cultural exchanges with other cities of the Guangdong-Hong Kong-Macao Greater Bay Area, particularly in preparation for the 15th National Games in 2025.

When asked about Macao’s role as a platform for cooperation between China and Portuguese-speaking countries, the Chief Executive stated that the 6th Ministerial Conference of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao) – a body known as Forum Macao – was about to be held. Participating countries would sign a new action plan for economic and trade cooperation, which would set the direction for future cooperation between China and Portuguese-speaking countries in areas such as infrastructure, finance, and technology. This would also bring more opportunities for Macao to serve as a platform for cooperation between China and Portuguese-speaking countries.

The Chief Executive also pointed out that Macao had close cooperation with Portugal specifically, in areas such as tourism, finance, healthcare, and cultural education. Additionally, the Government had signed an aggregate of 11 cooperation agreements with financial institutions from eight Portuguese-speaking countries, and planned to hold three conferences in Macao focusing on the financial sector.

Macao and Portuguese-speaking countries also maintained good cooperation in healthcare and cultural education. Within the framework of Forum Macao, Macao itself played its rightful role as a platform for cooperation between China and Portuguese-speaking countries. The Government would actively advance relevant work in accordance with the series of agreements signed between China and Portuguese-speaking countries, while continuously strengthening close ties with Portugal itself, and other Portuguese-speaking countries.

When asked about the development of the financial industry, the Chief Executive responded by stating that the bond market was an important component of Macao's modern financial industry, as part of the “1+4” strategy. Mr Ho recalled that, in 2023, he had led a Government delegation to visit the Luxembourg Stock Exchange to learn from its successful experience, with the aim of assisting Macao in establishing a "secondary market" for bonds and better promoting the development of the city’s modern financial industry. However, due to the small size of the Macao market, the development of the bond market needed to be carefully and steadily promoted. It was necessary to conduct evaluations and establish appropriate legal frameworks.

Regarding the national initiative to promote new quality productive forces, the Chief Executive said it was of particular importance for Macao, a small locality with limited resources. The development of new quality productive forces in Macao would be a systematic project and a joint effort.

Currently, the implementation of new quality productive forces had been starting with the approval of new pharmaceuticals, along with continuous improvement of industry regulations in the pharmaceutical sector. Macao’s tertiary-education sector had been engaged in bringing improvements in relevant training courses offered by those institutions. It was hoped that pharmaceutical companies could work together on the enhancement effort for the sector.

In the field of integrated circuits, the University of Macau was working with local industry to develop wireless charging technology for electric motorcycles in public parking lots, as well as launching programmes such as for autonomous robot systems and innovative-materials master's degree courses.

The Government would spare no effort to implement tasks in accordance with national guidelines and requirements for new quality productive forces, Mr Ho said.

During Tuesday’s session, the Chief Executive addressed questions from 29 members of the Legislative Assembly. These questions related to topics including employment, training, talent policies, education, sports, cultural heritage, social security, housing, urban renewal, care for vulnerable groups, tourism, cross-boundary e-commerce, and coordination of major events.


To get the latest official news, please subscribe the Government Information Bureau’s Telegram News Channel at https://t.me/macaogcsEN.

To get the latest official news, please subscribe the Government Information Bureau’s Telegram News Channel at https://t.me/macaogcsEN.
MSAR GCS Facebook
MSAR GCS Facebook
MSAR GCS Wechat Channel
MSAR GCS Wechat Channel
MSAR GCS Government News Channel
MSAR GCS Government News Channel
Link is copied.