Gov’t Third Five-Year plan targets MOP130 billion in investment

Chief Executive Sam Hou Fai has laid out Macau’s Third Five-Year in a signed article published yesterday, outlining a vision to drive economic diversification through four major projects and a government-guided fund, with an estimated total investment of MOP130 billion over the next five years.

Sam published a signed article in China Newsweek yesterday, titled “New Blueprint, New Journey, New Opportunities – Striving for High-Quality Development during Macau’s Third Five-Year Plan Period,” in which he outlined the core content of the city’s Third Five-Year plan (2026–2030), according to a statement from the Government Information Bureau (GCS). The article states that the plan serves as the guiding document for Macau’s economic and social development over the next five years, with the aim of realizing the vision of a “Law-Based Macau,” “Vibrant Macau,” “Cultural Macau,” and “Blissful Macau.”

The article emphasizes that economic diversification is essential to Macau’s long-term prosperity and stability. The government will leverage four major projects and a government-guided fund to drive the “1+4” diversified industrial development strategy, targeting the non-gaming sector to account for approximately 60% of GDP by 2030.

Preliminary estimates indicate that the total investment for major diversification projects during the plan period will reach approximately MOP130 billion.

Notably, the four major projects include the Macau-Hengqin International Education (University) Town, which will be carried out in three phases, with the University of Macau’s (UM) Hengqin campus set to begin trial operations in 2028 and be fully completed by 2029, while the campuses of the Macau Polytechnic University (MPU) and the Macau University of Tourism (UTM) are expected to have their main structures completed by 2030.

The Macau Technology Research Industrial Park will focus on four key areas – digital technology, biomedicine, integrated circuits, and aerospace technology – with planning and design to be completed this year and its first project expected to become operational in 2030.

“In 2027, planning will commence for the International Performing Arts Centre and the International Museum of Contemporary Art, with the aim of completing the architectural designs and launching tendering procedures for both venues by 2030,” Sam noted.

Meanwhile, the Macau International Integrated Tourism and Culture Zone will see the National Museum of Culture built in two phases, with the first phase due for completion in 2029.

The Macau International Airport Hengqin Upstream Cargo Terminal is set to begin trial operations by the end of this month and officially open in the first half of next year, with a target annual handling capacity of 300,000 metric tons.

The article further stressed that advancing the high-quality development of the Guangdong-Macau In-depth Cooperation Zone in Hengqin is “the key to breaking new ground” in Macau’s appropriate economic diversification efforts.

The government will leverage technology and education as driving forces to deepen Macau-Hengqin integration, with the goal of raising the combined added value of the zone’s four key industries – tourism, cultural activities, MICE, commerce, traditional Chinese medicine (TCM) and other health services, specialized finance, technology research, and advanced manufacturing – to 65% or more of GDP by 2030.

Specific measures include deepening physical connectivity through the Light Rapid Transit network and other infrastructure projects, while developing landmark projects and industrial spaces. These include the Macau-Hengqin International Education (University) Town, the Macau International Airport Hengqin Upstream Cargo Terminal, the China-Portuguese (Spanish) Speaking Countries Economic and Trade Service Centre, and the Hengqin-Macao Innovation Industrial Park.

On urban renewal, Sam said the government would adopt a bold and innovative approach, including promoting the redevelopment of key sites such as the seven buildings of Iao Hon Estate, the Tamagnini Barbosa civil servant building, and the former dormitory for post office workers near the Red Market, with the aim of creating demonstration projects. He also said the government would study a phased approach to the protective renewal and revitalization of the area around the Ruins of St. Paul’s.

“Urban renewal is not only a matter of city image and a key livelihood issue, but also a vital measure to promote coordinated development between old and new districts, and cultivate fresh economic growth points,” Sam said in his article.

Specific measures include strengthening overall planning and clarifying urban renewal targets, with top-level planning to be implemented progressively from easier to more complex tasks, while exploring a comprehensive urban renewal model that combines government guidance, market operation, district-specific approaches, integrated utilization, and a mix of redevelopment, revitalization, and area-based development.

The article concluded by stating that Macau would actively participate in the development of the Guangdong-Hong Kong-Macau Greater Bay Area, strengthen cooperation with Hong Kong, and expand the functions of its China-Portuguese-speaking countries platform to include Spanish-speaking nations, while also positioning itself as a key window for exchanges and mutual learning between Eastern and Western civilizations.

Sam described Macau as “one of the world’s most open trade and investment systems,” highlighting its advantages as a free port, a separate customs jurisdiction, and a simple, low-tax regime, and welcomed investors from home and abroad to seize the policy dividends and market opportunities presented by the Third Five-Year Plan.