Gov’t commits to supporting SMEs and revitalizing communities

Tai Kin Ip

Secretary for Economy and Finance, Tai Kin Ip, recently affirmed that the government is intensifying its initiatives to revitalize the local economy, focusing particularly on supporting small and medium-sized enterprises (SMEs).

During a community visit with the Chief Executive, Tai reaffirmed the government’s commitment to enhancing the business capacity of SMEs while addressing local residents’ needs. He outlined a three-tier plan aimed at boosting SME development, which includes preserving century-old shops that hold valuable skills and traditions.

Tai expressed optimism about Macau’s economic outlook, noting that employment levels, visitor numbers, and the overall economic environment remain stable. However, he emphasized the need for ongoing monitoring and detailed assessments to identify effective measures for fostering economic growth.

Recognizing Macau’s vulnerability as a small economy susceptible to external fluctuations, Tai stressed the importance of studying global macroeconomic trends. This vigilance will enable a comprehensive assessment focused on sustainable development, with relevant measures actively being explored.

After the visit, Tai reiterated the government’s dedication to enhancing SMEs’ operational capacity, supporting commercial activities in community areas, and safeguarding residents’ well-being.

He also highlighted the significance of century-old shops, emphasizing the need to preserve their skills and traditions. These businesses are integral to the city’s heritage and contribute to Macau’s identity as an international city. Authorities are committed to nurturing these brands to enhance the city’s reputation as an ‘international metropolis’. Victoria Chan