Gov’t eyes Northeast Asia office

[Photo: Melissandre Denize]

Chief Executive Sam Hou Fai announced yesterday that Macau is conducting a feasibility study on establishing an office in Northeast Asia with the objective of enhancing pragmatic cooperation with Southeast Asian nations in trade, tourism, and cultural exchanges.

During a Legislative Assembly plenary session yesterday, he further stated that the government is progressing with plans to set up a representative office in Kuala Lumpur, Malaysia, through a public capital enterprise, with a target completion date by the end of this month.

In tourism, Sam said the government will showcase Macau’s world-class tourism and leisure center image through the upcoming 13th APEC Tourism Ministerial Meeting, scheduled for June 24 to 28.

International visitor arrivals from January to May exceeded 1.24 million, up 8.7% year-on-year, and Macau received the “Asia’s Best Luxury Destination 2026” award at the LUXE Asia Awards Ceremony.

In the MICE sector, 425 events in the first quarter generated about MOP840 million in non-gaming revenue, up 29.4% year-on-year.

Meanwhile, Sam noted that Macau’s economy remained stable and improved during the first half of the year, with overall social harmony maintained.

The first-quarter GDP reached MOP107.5 billion, representing 7.1% real growth year-on-year, with the economy recovering to 90.3% of the 2019 level.

Public finance revenue from January to May stood at MOP49.68 billion, with fiscal reserves of about MOP697.3 billion at the end of April, while the overall unemployment rate remained low at 1.8% from February to April. YL