During Saturday’s Q&A session with members of the Chief Executive Election Committee, chief executive candidate Sam Hou Fai pledged that his administration would roll out various measures with the aim of stimulating Macau’s appropriate economic diversification, which he said is an urgent question that Macau must answer, such as by studying the possibility of setting up public funds aiming to promote the development of emerging industries.
The government-appointed Chief Executive Electoral Affairs Commission (CAECE) hosted a session on Saturday for Sam, the sole candidate for next month’s chief executive election, to present his election campaign manifesto and answer questions from election committee members.
The session, which was broadcast live, was held at the Services Platform Complex for Commercial and Trade Cooperation between China and Portuguese-speaking Countries (aka Forum Macao Complex) between 10 a.m. and 1 p.m., including a 25-minute break.
According to public broadcaster TDM, the three-hour session was attended by 315 of the 400-member Chief Executive Election Committee.
After presenting his election campaign platform, Sam answered questions from 16 electors.
The ongoing chief executive election campaign period, which started on Saturday, runs until October 11 before the election on October 13, which will also be held at the Forum Macao Complex, located near Macau Tower.
Sam’s candidacy has been endorsed by 386 electors, or 96.5 percent of the 400 members of the Chief Executive Election Committee.
Diversification concerns residents’ own interests
Presenting his election campaign manifesto, Sam underlined that appropriate economic diversification is a strategic requirement from the central authorities for Macau. The ex-top judge said that appropriate economic diversification concerns Macau residents’ own interests and the city’s long-term prosperity and stability, adding that it is “an urgent question that must be answered”.
Replying to a question from election committee member Wong Ian Man from the business sector, Sam underlined that Macau’s appropriate economic diversification is not only the central authorities’ requirement but also a consensus that has been reached by Macau’s civil society after the adverse impact of the three-year COVID-19 pandemic on the city’s economy.
Sam also praised the current government for laying out “very detailed” information in its 1+4 plan to appropriately diversify Macau’s economy, the final version of which was announced in November last year.
The government’s 1+4 model aims to consolidate and diversify the development of the city’s tourism and leisure industry while putting special emphasis on promoting the development of four nascent industries, namely Big Health mainly driven by traditional Chinese medicine (TCM); modern finance; high-tech; and MICE and commerce as well as culture and sports.
Govt’s key & leading role
Sam, who has no business background, said that the government should assume a key role in intensifying the development of the four nascent industries. Sam said that it would be difficult for Macau to promote the four industries’ development only by mainly relying on market forces, the high-tech and Big Health sectors in particular. Consequently, he said, it would be necessary for the government to strengthen its leading role in guiding the four industries’ development.
Sam said that his administration would consider setting up new public funds with the aim of achieving the objectives.
Sam also said that Macau should make good use of the development resources from the mainland including those from Hengqin as well as its advantages in linking the nation with the rest of the world, with the aim of stimulating its appropriate economic diversification.
During a press conference after the Q&A session, Sam said that Macau has “solid, healthy and sustainable” financial reserves because of which his administration would study the possibility of rolling out special support measures to boost the development of the city’s high-tech sector and other emerging sectors.
Sam also said that Macau can make better use of its financial reserves with the aim of promoting its appropriate economic diversification such as by setting up industrial funds.
Tax incentives
During the one-hour press conference, which was also held at the Forum Macao Complex, Sam noted that financial support measures and tax policies are two important tools used by many economies aiming to promote their growth.
In addition to financial support measures, Sam said that Macau could improve its taxation system with the aim of promoting its appropriate economic diversification.
Sam noted that Macau is an economy with a low tax system, where only three percent of small- and medium-sized enterprises (SMEs), according to official data, are currently required to pay tax, but Sam was quick to add that with the aim of making Macau’s business environment more attractive for emerging industries, the future government could propose tax incentives for emerging industries such as the high-tech sector.
Moreover, Sam also mentioned Macau’s economic diversification campaign when answering questions on other topics from several other election committee members during the Q&A session.
Gaming sector, foreign tourists
For instance, Sam said that his administration would ensure that the city’s six gaming operators will fulfil the government’s requirements listed in their current 10-year concession agreement to invest a total of 130 billion patacas in non-gaming attractions and projects during the 10-year period, with the aim of promoting Macau’s appropriate economic diversification.
Replying to a question from election committee member Choi Kam Fu from the labour sector, Sam pledged that his administration would continue to strictly implement the newly amended gaming law. Sam noted that the government’s tightened regulation of the gaming industry does not intend to downsize the sector but aims to ensure its orderly and healthy development in compliance with the law, with the objective of “preventing the sector’s previous negative incidents from occurring again”.
Sam also said that the six gaming operators should work closely with the government to expand Macau’s sourcing of tourists from foreign countries.
Replying to a question from election committee member Wong Fai from the professional sector, Sam said that his administration would consider requiring Macau’s six gaming operators to set up their own representative offices in Southeast and Northeast Asian countries aiming to promote Macau’s tourism, as part of their joint efforts with the government to help Macau expand its sourcing of foreign tourists.
Sam also noted that over 90 percent of visitors to Macau are currently from the three Chinese regions of the mainland, Hong Kong and Taiwan. Sam pointed out that Southeast Asia has a population of several hundred million in total, because of which the region is a big market source of tourists for Macau. Consequently, Sam said, Macau should come up with effective measures to attract more of those from the region to visit Macau
Forum Macao
Replying to a question from election committee member Casimiro de Jesus Pinto from the professional sector, Sam said that Macau should make better use of its role as a platform between China and Portuguese-speaking countries with the aim of diversifying its industries and contributing to the nation’s development.
Sam said that Macau’s platform between the two sides, which was launched in 2003, has gradually become an integral part of the nation’s development strategy over the past 21 years, adding that in addition to its initial function of promoting business between the two sides, the platform now covers various other fields.
The Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries, launched in 2003, is known as Forum Macao for short.
For the next step, Sam suggested that Macau should make good use of its platform with the aim of helping products from major manufacturers in the mainland, such as household appliances and new energy vehicles (NEVs), enter Portuguese-speaking countries with a population of 290 million in total, most of which are countries with lower development levels. For instance, Sam said, Brazil, with a relatively high development level in the nine-nation group, is still a developing country so that medium-quality products made in China are popular there.
Replying to a question from election committee member Zheng Anting representing the Legislative Assembly (AL), Sam acknowledged that Macau achieving its economic diversification will require the presence of a good business environment, which cannot be created without an efficient government.
Sam pledged to study how to streamline the government’s administrative formalities assessing and approving applications for licences to run a business.
Meanwhile, replying to a question from election committee member Ma Ching Man from the labour sector, Sam said that his administration “would not consider” lifting the government’s current ban on the hiring of non-local casino dealers.
Sam noted that casino dealers currently account for about 10 percent of the local working population because of which it is important to ensure the protection of their employment.
Meanwhile, replying to questions from several other election committee members, Sam pledged that his administration would study how to help local SMEs upgrade their business operations with the aim of enabling them to adapt to the changes in consumption habits and patterns of both residents and visitors alike.
Macau’s sole chief executive candidate Sam Hou Fai addresses Saturday’s session with Chief Executive Election Committee members to present his election campaign manifesto and answer their questions at the Forum Macao Complex. – Photo: GCS
Chief Executive Election Committee members attend Saturday’s session when the sole chief executive candidate Sam Hou Fai answered their questions about his election campaign platform. – Photo: GCS
