Tai Kin Yip commits to economic recovery

The newly appointed Secretary for Economy and Finance, Tai Kin Yip, outlined a comprehensive plan for economic diversification during a press conference yesterday.

He expressed gratitude to the Central People’s Government and the incoming Chief Executive for their trust.

“I will continue to serve the nation, the SAR government and the citizens of Macau with all my efforts,” he said.

Tai highlighted the challenges of the past few years, particularly during the pandemic.

He said significant work has been done to support economic recovery and promote a diversified economy.

“We have laid a solid foundation for Macau’s next phase of moderate diversification,” he said.

The current director of the Economic and Technological Development Bureau  emphasized the importance of collaboration across various sectors to achieve these goals.

Tai said a thorough review of previous strategies would be conducted to ensure adaptability to changing circumstances.

“Our future objectives will involve mobilizing more resources to accelerate the implementation of established plans in various fields.”

The government remains committed to fostering community development Tai said, responding to media questions about support for small and medium-sized enterprises (SMEs).

“We have assisted over 1,600 SMEs in their digital transformation over the past three years.”

He also mentioned plans to enhance support for these businesses in upgrading their competitiveness through modernization initiatives.

“In the future, we will continue in this direction.”

As part of his vision, Tai aims to integrate Macau’s institutional advantages with mainland resources to enhance economic cooperation.

“We hope to facilitate the smooth flow of production factors between Macau and mainland China through improved regulatory frameworks,” he said.

In closing, he reiterated his commitment to leading efforts that align with the new administration’s goals.

“Together, we will work tirelessly to develop our economy and improve living standards.” Nadia Shaw