CE gathers expert opinions for Policy Address 2025 and economic strategy

Before departing for Beijing, Chief Executive (CE) Sam Hou Fai met with local economists and scholars to hear their opinions and suggestions on preparing this year’s Policy Address.

During the meeting, Pang Chuan, vice-rector of the Macau University of Science and Technology and dean of the School of Graduate Studies, noted President Xi Jinping’s visit and commented on ideas for building a hub for high-quality international talent. He suggested that the government invest more in the Science and Technology Development Fund and establish a mechanism to attract international talent and support the diversification of Macau’s economy.

In turn, Samuel Tong, president of the Macao Institute of Management and chairman of the board of directors of the Macao Political Economy Research Association, suggested that the government create a mechanism for human capital accumulation and promote the comprehensive upgrading and conversion of traditional industries.

He added that the government should accelerate the second phase of the Guangdong-Macau In-depth Cooperation Zone in Hengqin and fully seize the opportunities presented by the Guangdong-Hong Kong-Macau Greater Bay Area (GBA).

Meanwhile, Matthew Liu, director of the University of Macau (UM) Centre for Continuing Education, professor at the University of Macau’s Faculty of Business Administration, and a member of the Economic Development Council, suggested that the government capitalize on the advantages of the ‘One country, two systems’ policy and attract international companies to Hengqin. At the same time, it should efficiently utilize some unused land in Macau and introduce international capital into tenders.

At the same meeting, Ricardo Siu, associate professor of UM’s School of Business Administration, pointed out that Macau should strengthen the development of the local economy, support the technological transformation of micro, small, and medium-sized enterprises (SMEs), leverage its unique tourism resources to increase visitor spending, prepare for uncertainties in the financial market, and organize the government budget more efficiently and prudently.

At the same meeting, Henry Lei, associate head of UM’s Faculty of Business Administration and vice-president of the board of directors of the Macau Economic Association, argued that the government should help SMEs enhance their business capacity, provide business diagnostic services, actively attract investment, and focus on attracting technology firms to Macau to create more opportunities for innovation.

Loi Hoi Ngan, associate professor at the Centre for Political, Economic, and Social Studies of the Macao Polytechnic University and vice-president of the board of the Strategic Research Centre for Macao Development, suggested that the government’s policymaking should focus on consolidating economic foundations and fostering innovation. He also advocated for increasing government purchases from local SMEs, unlocking “data islands,” leveraging data for precise policy formulation, and strengthening Guangdong-Macau cooperation.

Lei Ngan Leng, chairwoman of the Grand Thought Think Tank and executive president of the GBA Institute of the City University of Macau, recommended that the government improve overall planning and coordination, draft the third five-year plan of the SAR, enhance the efficiency of interdepartmental work, streamline policy communication, establish a monitoring and evaluation mechanism, and enhance urban planning and management to improve public well-being and sustainable socio-economic development.

Other members of the think tank, including Wang Changbin, Liu Chengkun, Song Yanan, and Chan Kin Sun, also shared their perspectives on promoting the healthy development of the gaming industry, supporting SMEs, integrating Macau and Hengqin, expanding the skilled labor pool, developing the maritime economy, advancing elderly care policies and social security systems, and expanding e-governance initiatives.

Lawmaker Cheung Kin Chung, honorary president of the Union of Macau Scholars, pointed out that visitors’ consumption patterns in Macau have changed, making them more cautious and selective. He suggested that the government focus on attracting high-spending visitors, promoting tourism across different districts, creating distinctive tourist zones, and developing major landmark projects to boost the city’s cultural and tourism industries.

Lao Pun Lap noted that many local SMEs face operational challenges due to declining consumer demand in a complex economic environment. He urged the government to strengthen support for SMEs, helping them innovate and adapt to market changes.

Other members of the Union of Macau Scholars, including Lin Zhijun and former lawmaker Mak Soi Kun, also expressed their views on enhancing coordination between the In-depth Cooperation Zone and Macau in civil and commercial matters, fostering non-gaming industries, improving employment competitiveness, upgrading urban infrastructure, and attracting consumers to the Cooperation Zone.

The CE acknowledged the suggestions and emphasized the importance of addressing global economic instability and uncertainty. He highlighted that shifts in financial cycles and consumer behavior pose new challenges.

He stressed that the government must address the unbalanced development of Macau’s economy, continue promoting industrial diversification, and support the sustainable development of SMEs.

He encouraged experts and scholars to continue providing constructive opinions, collaborate on long-term planning, and help the public better understand the government’s economic and policy direction.