Q&A at the AL | Chui ‘cautiously optimistic’ on gaming, tourism

The Chief Executive (CE) Chui Sai On attended a Q&A session at the Legislative Assembly (AL) yesterday answering a total of 32 lawmakers’ inquiries covering concerns over industrial development, regional cooperation, urban renewal and planning, housing and social welfare, medical and judicial systems reform, as well as waste disposal.
In light of the city’s “new economic normal” where gaming revenue has contined to deline for 13 straight months, several lawmakers questioned whether the government’s administration capacity, fiscal management and austerity plan, as well as its strategies for tourism economy and population capacity, would be adequate to cope with the dynamics and aggravating challenges.
In response, Chui said that the administration “remains cautiously optimistic” for the gaming industry, as Macau still “stands high and competitive amongst world’s gaming economies” whilst maturing with diversified entertainment and services. He recognized “the numbers have gone back to a stable level after a decade going upward,” and that “the public finance surplus recorded in the first half of this year is basically up to the goal, with MOP 25.2 billion.”
He further assured lawmakers that the government’s investment plan with the fiscal reserve would be “not only capital-guaranteed and profitable but also safe.” Although no specific projects have been chosen, he revealed the initial amount to be invested in Guangdong is estimated between 10 billion and 20 billion yuan.
Meanwhile, Chui stressed, “the government still needs to observe the revenue fulfillment for the second half of the year, but that will not impede its push for economic diversification, regional cooperation and non-gaming elements.” He added that key supports would include supporting the local MICE industry to bid for hosting international conferences.
The Chief Executive further indicated “the revenue gap between gaming and non-gaming sectors have narrowed as being reflected in the statistics.” Noting that non-gaming gross revenues had reached over MOP190 billion last year while gaming revenue stood at MOP350 billion, he stressed the government would continue bridging the gap.
Meanwhile, the authorities are expected to complete a preliminary draft interim review on gaming concessions at the end of next month, and will consult the public’s opinion when it is ready at year-end.
Chui explained, “the review looks into eight aspects including the gaming industry’s impacts on local economy, SMEs’ business environment, society and livelihood, incorporation of non-gaming elements, concessionaires and operators’ performance of contract, business situation, law compliance and social responsibility fulfillment.”
As for lawmakers’ inquiries about the city’s strategies to boost its tourism economy, Chui revealed the government is now studying how to match Macau to its goals and platform roles, and within this year will announce and roll out tasks of the newly established committee for accelerating the territory’s steps towards becoming a world tourism and leisure center.
Regarding Macau’s reception capacity, Chui acknowledged “the city tends to be crowded during holidays, but the overall tourist arrivals of 31 million in a year didn’t come easily.” He added the MSAR will fully discuss with Beijing to “make sure visitor arrivals won’t exceed the city’s upper limit of capacity.” Moreover, he said the government has drafted a report that suggests how Macau could play to its strength in the country’s “Road and Belt” initiatives, which will be released for the lawmakers’ reference next month.

CE pledges action on urban renewal within the year

As several lawmakers slammed the government’s postponement of much-needed restructuring and renewal in the old districts, the Chief Executive yesterday pledged that the Urban Renewal Committee would be set up within the year and start formulating related laws and regulations six months later.
Moreover, Chui Sai On also revealed the government would launch strategic research on urban development this year and conclude it at year-end. He said by then the drafting of the city’s overall planning could begin, which would need three to five years.
Impatient to improve the living quality and business environment in the old neighborhoods, lawmakers urged the CE to give a timetable and introduce plans since the government had decided to reinvent the wheel after years of research.
In response, Chui said, “the preparation for the Urban Renewal Committee’s set up is in the final stage, and after that, new regulations need to be formulated. Only after these two tasks are completed could we decide the renewal model.”
He explained that the previous “old neighborhood restructuring” plan was replaced with the “urban renewal” concept because “it couldn’t meet the residents’ demands and unveiled many unsolved issues in practice.”
“The tasks, such as deciding operational model, land resource allocation, execution objects, work content and dedicated laws, all need to be carried out at full speed urgently,” he added.
At the Q&A session held at the Legislative Assembly, some lawmakers also urged for employment and retirement security, as well as more support to grassroots public workers. Regarding building a non-mandatory Central Provident Fund scheme for workers, Chui said the draft bill would be submitted to the AL by the end of this year. Moreover, he added that the government is set to fulfill its funding plan of injecting MOP37 billion into the Social Security Fund next year. BY