Chief Executive Ho Iat Seng said yesterday that the local government is striving to publish and implement its “Plan for the Appropriately Diversified Development of Macau’s Economy” as soon as possible, adding that the government is in the process of listening to the views of all sectors of civil society, including political circles, representatives of the various sectors, experts and scholars.
In order to further plan for the long-term, based on the new situation of Macau’s overall development, the government has drawn up the new economic development plan which puts forward a raft of specific goals, main tasks and key projects for the next five years (2024-2028), aiming to clarify the detailed development blueprint and implementation plan of the so-called “1+4” industries through top-down design and provide guidance for social investment and residents’ future development plans, according to Ho.
In terms of “1+4” industries, “1” refers to Macau’s target of being the nation’s World Centre of Tourism and Leisure, while “4” refers to the continuous promotion of the four new local key industries, namely big health, modern finance and high-tech, as well as MICE (meetings, incentives, conferencing, and exhibitions), culture and sport.
Since the beginning of this year, Ho pointed out, Macau’s economy and society are back on the right track, with a sound momentum of economic recovery as the number of tourists visiting Macau has increased significantly and the vitality of all sectors of civil society has been restored, enhancing their confidence in the local economic development.
Ho underlined that the government is making an “unremitting effort” to adopt the “1+4” development strategy, in which it is continuously developing and cultivating Macau’s integrated tourism and leisure industry with a rich component of non-gaming attractions, while also strengthening Macau’s ongoing effort to attract more foreign tourists.
Ho made the remarks in an opening speech before the government-appointed Economic Development Council’s second plenary meeting this year, at the complex of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (aka Forum Macao) on Rua Sul de Entre Lagos. The closed-door meeting was chaired by Ho, flanked by Secretary for Economy and Finance Lei Wai Nong and Economic and Technology Development Bureau (DSEDT) Deputy Director Chan Tze Wai.
Committee adjusts structure in line with ‘1+4’ strategy
Meanwhile, committee members Sio Chi Wai and Wu Keng Kuong each briefed the media about the two-hour closed-door meeting.
In line with the government’s “1+4” strategy of ensuring the local economy’s appropriately diversified development, according to Sio, who heads the Macau Development Strategy Research Centre, the committee streamlined the structure of its Industrial Development Policy Research Group from the original six task forces to just four, i.e., Research Group on Traditional Chinese Medicine (TCM) and Big Health Industry Development Policy; Research Group on Modern Finance Industry Development Policy; Research Group on High-Tech Industry Development Policy; and Research Group on MICE, Culture and Sport Industry Development Policy. Sio said that the four groups will focus on policy research to better implement the appropriate diversification of Macau’s economy. He did not elaborate on the two task forces that were discontinued.
In order for the groups to operate better and be effectively promoted, Sio said, the four task forces are each headed by government bureaus.
Concerning the tourism industry, Sio pointed out that the government has already got relevant tourism promotion groups in place.
According to Sio, during the meeting fellow members also discussed the committee’s internal regulations, and institutionalised their work, ensuring that members can make suggestions individually or collectively.
Meanwhile, Wu, chairman of the Travel Industry Council of Macau (TICM), said that the four task forces will focus on the government’s “1+4” development strategy, among which he believed that the Research Group on MICE, Culture and Sport Industry Development Policy will be conducive to playing a greater role in promoting the local “tourism+” concept.
Chief Executive Ho Iat Seng chairs this year’s second plenary meeting of the government-appointed Economic Development Council yesterday at the Forum Macao complex in Nam Van. – Photo: GCS
