Frederico Ma Chi Ngai, Chairman of the Board of Directors of the Macao Chamber of Commerce
Recently, Chief Executive Sam Hou Fai delivered his second Policy Address during his term at the Legislative Assembly, with the theme “ Deepen Reform Firmly, Enhance Efficiency, and Jointly Address Challenges to Promote Diversification”. The address reviewed and summarized the work carried out in seven aspects over the past year since he took office, and put forward nine overall directions and policy priorities for the coming year, including safeguarding national security, deepening public administrative reform, promoting appropriate economic diversification, and accelerating the construction of the Macao-Zhuhai Integrated Development Zone. He called on all sectors to “discuss and resolve issue together” to jointly manage Macao’s affairs well. Among these priorities, two key tasks–consolidating the momentum of economic recovery and making efforts to promote appropriate economic diversification, as well as deepening public administrative reform and improving the governance efficiency of the Special Administrative Region –are not only the core themes of this Policy Address, but also the top two of the “Four Proposals” put forward by President Xi Jinping at the inauguration ceremony of the sixth-term SAR Government, highlighting their strategic importance.
Appropriate economic diversification is a “must-answer question” for the development of the SAR, and almost every Policy Address focuses on elaborating on it. The Policy Address for the coming year clearly states that efforts will be made in strengthening policy support, increasing capital investment, and optimizing the business environment to foster new industries with international competitiveness and promote the implementation and effectiveness of the “1+4” target task for appropriate economic diversification. Breaking down the task in detail: the “1” refers to conducting a review during the two-year implementation period of the new gaming contracts, urging concessionaires to fulfill their non-gaming investment commitments, deepening the integration of the “tourism +” industry, and actively expanding the international source market for tourists; the “4” focuses on achieving greater breakthroughs in four emerging industries, with many highlights.
In the field of high-tech industries, the Address outlines specific plans for the establishment of government industrial funds and guidance funds. These funds will be initiated under government leadership, with joint investment from the government and social capital, and entrusted to professional teams for management. This model is similar to the operation mechanism of mother funds used by provinces and cities on the Chinese mainland to support the development of high-tech industries: after balancing the government’s leading role and economic benefits, the funds will be operated by fund management companies in accordance with market-oriented principles, with both parties sharing investment risks. Compared with the previous model of government funds relying on “approval for subsidies”, the operational efficiency will be significantly improved.
In the field of traditional Chinese medicine (TCM) and big health industry, the SAR Government will accelerate the legislation of the “Law on the Activities of Private Health Care Institutions”, introduce the new day hospital license with lower investment thresholds, actively develop advanced therapies including cell therapy, and lay out industries such as medical aesthetics and health management in line with the development direction of “tourism + medical care”. In the field of modern finance, continuous efforts will be made to advance the legislation of the “Securities Law” and the research and development of the “Digital Pataca”. In the field of culture, tourism, sports and exhibitions, a funding program for the development of Macao’s IPs will be launched. This series of measures will form a synergy and continuously inject impetus into the appropriate economic diversification.
To achieve improved quality and accelerated progress in appropriate economic diversification, it is inseparable from the support of public administrative reform, especially the advancement of the “decentralization, regulation and services” reform which is closely related to the optimization of the business environment. For example, the draft of the “Law on the Activities of Catering and Beverage and Related Premises”, currently under review by the Legislative Assembly, will significantly optimize the industry access process through measures such as simplifying the classification of premises, establishing a new registration system for catering premises with an area of no more than 120 square meters, relatively simple decoration works and controllable risks, and relaxing project restrictions in the World Heritage buffer zones and temporary buffer zones. At the same time, the draft of the “Advertising Law” also proposes to optimize and relax the procedures for publishing various commercial advertisements, further stimulating market vitality.
The Policy Address clearly states that in the coming year, the government will continue to review and revise various administrative licensing management systems, streamline unnecessary approval conditions and procedures in economic activities, and release the potential for economic and social development. The “General System for the Establishment and Organizational Structure of Public Departments and Entities”, adopted last month, has laid a legal foundation for administrative system reform. Under the framework of this regulation, the SAR Government will continue to advance the reorganization and centralized management of departmental functions, and launch a series of institutional reorganization, merger and streamlining work in the coming year to comprehensively improve governance efficiency.
In addition, the direction for amending the “Code of Civil Procedure” (one of Macao’s five major codes), as well as the “Code of Administrative Procedure” and the “Code of Administrative Litigation”, has been initially formulated, and it is expected that relevant consultations will be launched in 2026. Although these amendment works involve a large system and a wide range of areas, and some provisions urgently need to be updated due to their age, they are difficult tasks that must be overcome for Macao to move towards the construction of a modern legal system, and are also an indispensable institutional cornerstone for promoting the diversified development of the economy. Only by laying a solid foundation through the construction of the rule of law can we provide a stable guarantee for reform and development, and promote the steady and long-term high-quality development of Macao’s economy and society.
Chairman of the Board of Directors of the Macao Chamber of Commerce Frederico Ma Chi Ngai addresses the 18th World Chinese Entrepreneurs Convention in Macau last month. – MPDG
