Portuguese national Carlos Cid Álvares first visited Macau as a tourist in 1993. He was immediately captivated by the beauty of this tiny land in China then still under temporary Portuguese rule.
“The city was very simple, but the people were friendly,” said Álvares, who nevertheless noticed Macau’s lack of modern infrastructure.
When he moved to Macau six years ago, it had already been a special administrative region (SAR) of China for almost two decades. And Álvares found the changes quite striking.
“I saw incredible planning, execution, and a leap in knowledge,” said Álvares, who is particularly taken by the city’s infrastructure and its open, foreigner-friendly atmosphere.
Official figures show that Macau had over 176,000 locally employed non-residents by the end of 2023, over 20,000 more than the previous year. They mainly come from the mainland, Southeast Asia and Portuguese-speaking countries (PSCs).
Macau is one of the safest places in the world and the culinary-cultural blend in its restaurants is remarkable, said Álvares, now president of the Macau Delegation of the Portugal-China Chamber of Commerce and Industry.
Macau has experienced remarkable transformation over the past 25 years under the “One Country, Two Systems” policy, which has enabled it to maintain its capitalist system and way of life while being part of socialist China.
Álvares told Xinhua that he believes the “One Country, Two Systems” policy is the key to Macau’s success.
“It’s a policy that offers consistency, allowing businesses to operate under familiar rules,” he said, adding that certainty has been crucial in driving Macau’s economic growth.
With the development of the Guangdong-Hong Kong-Macau Greater Bay Area (GBA), Álvares is optimistic about Macau’s future and frequently encourages foreign investors to view Macau as a gateway to the mainland.
“Macau may be small, but the potential of the Greater Bay Area is huge,” he said. “So I never talk about the 700,000 residents in Macau. I talk about 80 million people in the Greater Bay Area.”
“Macau is now on the map in ways it wasn’t 25 years ago,” Todd Lyle Sandel, an associate professor at the University of Macau (UM), echoed similar sentiments about the city’s transformation.
“Back then, few people knew where Macau was, and it was often associated with crime. Now, that perception has completely changed.”
Sandel, who joined UM in 2012, remembers the university’s early years on Taipa Island.
After relocating to Hengqin, the campus felt sparsely populated at first, but the change has been dramatic. “Now, the campus is thriving with people from all over the world,” he said.
He is particularly proud of Macau’s rise in academia. UM now ranks among the top 200 universities globally, reflecting the city’s growing international academic reputation.
Sandel also highlighted Macau’s expanding cultural scene, pointing out that while often formerly dubbed the “Las Vegas of the East,” the city now offers high-quality education, diverse entertainment, and a thriving dining scene.
“Before Macau’s return to China, there was little interest from international investors,” recalled António Trindade, president and CEO of CESL Asia-Investments & Services Limited.
“But after the handover, everything changed quickly. The government’s efforts and economic opening made a huge difference,” Trindade told Xinhua.
He sees the “One Country, Two Systems” policy as essential in sustaining his company’s operations across China, Portugal, and beyond.
“The system allows for quick, flexible solutions, which create an environment full of opportunities for growth,” he said.
Macau now ranks as one of the richest places in the world. Compared with 1999, Macau ‘s per capita GDP more than quadrupled to nearly US$70,000 in 2023.
Looking ahead, Trindade is excited about Macau’s potential, particularly in new technologies like AI.
The Macau SAR government has put forward the strategy for appropriate economic diversification to build Macau into a World Tourism and Leisure Center and develop its priority industries of big health, modern finance, high technology, exhibition and convention, as well as culture and sports.
In 2023, the Macau SAR government followed up on around a dozen investment plans on scientific and technological industries, and supported a batch of research fruits to commercialize.
“With government support and the region’s economic momentum, Macau has limitless potential,” Trindade said. – Xinhua
