US Consul ‘optimistic’ on Macau as investment prospect

The U.S. Consulate General in Hong Kong and Macau sees potential for the world’s largest economy to continue investing in the MSAR, particularly as the city widens its tourism sector offerings.

Speaking to public broadcaster TDM on the sidelines of an anticipatory celebration for the country’s upcoming Independence Day, Consul General Kurt Tong said he remains both positive and “optimistic” about future investment prospects.

Tong said that U.S. companies were interested in helping Macau to develop additional tourism offerings, for example within the food and beverage sector and in the conventions and exhibitions sector.

“We’re quite optimistic about the future, actually,” he told TDM. “We think that the formula of foreign participation in the Macau economy is a mutually beneficial thing.”

The most noteworthy U.S. investments in Macau are the local subsidiaries of American gaming companies Wynn Resorts, MGM International Resorts and Las Vegas Sands, who together control a share of approximately 45 percent of the world’s largest gambling market.

Each year, the U.S. Consulate General in Hong Kong and Macau organizes a celebration for the country’s Independence Day, held on July 4.

The date commemorates the 1776 declaration made by the American colonists which recognized the United States as a new nation, separate from the British Empire.