Chief Executive Sam Hou Fai has credited the Chinese government’s “firm” leadership for the region’s steady economic growth last year, highlighting a record-high number of visitors.
The Chief Executive made these remarks during the first plenary session of the Economic Development Committee yesterday morning, where he acknowledged that the city’s economy has effectively risen to the challenge and continued to advance despite significant pressures over the past year.
This year marks a significant turning point for Macau, as noted by Sam, who emphasized that it coincides with the launch of the national 15th Five-Year Plan and the initiation of Macau’s third Five-Year Plan. He affirmed that a steadfast commitment to the overall national development agenda will serve as the guiding principle for these initiatives.
In a speech delivered prior to a closed-door meeting, Sam highlighted that Macau’s economic development will strategically align with the “Macau + Hengqin” initiative. He stated that efforts will be focused on advancing the second phase of construction in the Guangdong-Macau In-depth Cooperation Zone in Hengqin.
To promote comprehensive and deep integration across economic, social, and livelihood sectors, Macau and Hengqin will work collaboratively across three key dimensions: physical connectivity, institutional connectivity, and people-to-people connectivity. Sam indicated that this coordinated approach is expected to drive regional growth and improve the living standards of the communities involved.
Strategic development focus on major projects
As outlined, Macau’s third Five-Year Plan aims to systematically plan and advance the construction of four key projects within the special administrative region. Priorities include the development of the Macau-Hengqin International Education (University) Town, the Macau International Integrated Tourism and Culture Zone, the Macau Pearl River West Bank International Air Transport Hub (Port), and the Macau Science and Technology Research and Development Industrial Park.
The plan seeks to accelerate the establishment of government-guided funds that will utilize these key projects as catalysts for fostering the clustering and development of related industries. By leveraging resource integration, the initiative aims to promote the complementary advantages of various sectors.
As noted by Sam, all of these measures are designed to “actively participate in the development of the Guangdong-Hong Kong-Macau Greater Bay Area and serve the nation’s overall development strategy.”
This approach aspires to achieve significant breakthroughs in promoting the appropriate diversification of Macau’s economy and elevate it to “new heights.”
Sam to visit portugal and spain next month
Ng Wah Wai
Following the meeting, appointed committee member Ng Wah Wai revealed to the media that next month, the Chief Executive will lead a delegation of business leaders and representatives from various government entities on a visit to Portugal and Spain.
According to him, the trip aims to promote Macau, engage with enterprises, participate in industry promotion events, and explore cooperation opportunities in sectors closely aligned with Macau’s development, including the key big health industry.
Another committee member, Amber Li, emphasized that Macau’s international identity extends beyond Portuguese- and Spanish-speaking nations.
Amber Li
She stated, “Given its diverse and global character, Macau has the potential to connect with a wide range of countries, enhancing its global relationships and promoting its unique status.” This aligns with Macau’s goals to leverage its distinctive position as a Special Administrative Region (SAR) backed by China while maintaining strong connections to the rest of the world.
The two committee members expressed strong confidence in Macau’s future development, noting its close ties to Hengqin’s progress.
Li highlighted discussions from the meeting focused on efforts to achieve integrated development between Hengqin and Macau. This includes promoting reforms, removing existing regulatory restrictions and institutional barriers, and adopting innovative approaches to support appropriate economic diversification. “The strategy is designed to enhance exchanges and integration between the two regions,” she said.
While Ng quoted the Chief Executive as stating that the central government’s inclusion of Hong Kong and Macau in a dedicated chapter of the 15th Five-Year Plan for the first time highlights its support for Macau, Li urged all citizens and enterprises to reflect on how they can contribute to national development.
She emphasized the importance of fully leveraging Macau’s strengths, serving as effective liaisons, hosting a variety of international conferences, and enhancing the region’s global standing.
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