Macau’s platform role aligned with national ‘dual-cycle’ strategy

Macau will make good use of its role as a platform to serve China’s “dual-cycle” development pattern, the Chief Executive (CE) Ho Iat Seng, said in his speech at the National Day reception held on October 1.
Ho noted Macau’s commitment to contributing to the strategy advanced by president Xi Jinping. The strategy relies on both a domestic and an international economic cycle, with an emphasis on the domestic cycle.
“Macau will dedicate further effort in terms of engagement with the international economic cycle, to serve the country in the opening to the world, and for the sustainable economic development of Macau,” the CE said. Ho underlined the central government’s solid support, in particular when facing the new challenges arising from the Covid-19 pandemic.
As part of the central government’s support efforts, Ho noted that the resumption of issuing visas for mainland China residents who wish to visit Macau under the individual visit scheme (IVS) will constitute an important step for the “gradually recovery” of the local economy.
During the same speech, the CE also reaffirmed the Macau government’s commitment in continuing its administrative policy direction, which includes efforts to fight the pandemic, safeguard employment, stabilize the economy, care for people’s livelihoods, implement reform, and facilitate development.
Ho also remarked on the possibilities presented by the development of the Guangdong-Macau Intensive Cooperation Zone that is planned for Hengqin Island.
The CE stressed that the government was always informed by the mission to follow President Xi Jinping’s instructions by implementing the “Four Aspirations”, “Four Persistences” and “Four Expectations,” while respecting and implementing the principles of “One country, two systems”, “Macau people governing Macau” and a high degree of autonomy. In addition, this would also include the continued development of Macau’s strategic positioning as a world center of tourism and leisure, and as a commercial and trade cooperation service platform between China and Portuguese-speaking countries (collectively known as the “Centre and Platform” policies).
This year, the reception to celebrate the 71st Anniversary of the founding of the People’s Republic of China was held at the new China-Portuguese-speaking Countries Commercial and Trade Service Platform Complex. The event was attended by over 1,000 guests.

Economy to remain stable with modest growth

The outlook for the local economy in the medium to long term continues to be stable with modest growth, the Secretary for Economy and Finance, Lei Wai Nong said on the sidelines of the National Day reception on October 1.
Lei said that the local economic performance outlook remains unchanged “despite the short-term volatility wrought by a second wave of the pandemic in countries overseas.”
The Secretary also stated that the government is seeking to boost domestic demand and create job opportunities through the previously planned infrastructure project, which is worth over 17.7 billion patacas and will be implemented largely during 2021.
Lei said that the recent growth of the unemployment rate to 4% among residents is due to current pressures in the market.
According to the Secretary, the figure represents a rise of about 400 people, who are “mainly people who had been in either the casino junket business; hotel, wholesale or retail work; or construction.”
Attempting to tackle such growth, the government would launch further paid-
training initiatives, with a quota of up to 60,000 places.
Replying to media questions, Lei also added that the government is preparing for the new gaming licenses tendering, due to happen in 2022.
Contrary to the suggestions of some scholars and gaming experts, Lei said that the government is not considering postponing the date of the new concessions tender, as the new law that gives way to the tender will be ready next year. RM