The portfolio of the Secretary for Economy and Finance has taken over leadership of the government’s revitalization projects for six community areas, building on the foundation established by the Secretary for Social Affairs and Culture last year, and will spearhead the revitalization efforts starting this year.
Secretary for Economy and Finance Anton Tai Kin Ip emphasized during a Legislative Assembly (AL) Q&A session on the 2025 Policy Address that promoting appropriate economic diversification remains the top priority for the sector.
He went on to announce that, under his office’s leadership, a task force has been established to oversee the implementation of commitments made by the city’s six gaming concessionaires to actively develop non-gaming projects.
Among these commitments is the government’s revitalization project, part of a broader agreement made by the concessionaires when they signed new 10-year contracts in 2023.
“Over the past year, relevant public entities, particularly the Cultural Affairs Bureau, have led the efforts for the revitalization and development of the six districts, with support from the Secretary for Economy and Finance’s office. However, under this administration, it has been decided that the Secretary for Economy and Finance’s office will take charge of overseeing the development of these districts, coordinating and advancing related initiatives,” said Tai.
He also noted that the Secretary for Social Affairs and Culture will instead provide comprehensive assistance.
The changes are aimed at optimizing the overall business environment in the districts, according to the Secretary.
The government will initially partner with the six integrated resort (IR) operators to review the development initiatives carried out over the past year.
Tai stated that their goal is to enhance the positioning of community commercial districts, deepen the exploration of community humanities, culture, and memory, and effectively integrate these efforts with the government’s top-level planning and multi-party participation.
In response to questions from several lawmakers, Tai emphasized that “the government is an auxiliary body responsible for promoting and coordinating interdepartmental administrative procedures and approvals.”
He expressed his hope that, in terms of community development, the government would leverage successful experiences from around the world and adopt a top-down approach, with local community organizations taking the lead.
Tai reiterated the government’s goal of transforming the six districts into unique commercial hubs that attract residents and tourists, encouraging them to visit, spend, and enjoy themselves, thereby fostering local economic development.
He emphasized the importance of integrating efforts from all stakeholders, including small- and medium-sized enterprises (SMEs), to enhance district development and improve the city’s overall appearance.
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