Macau Monetary Authority (AMCM) President Benjamin Chan Sau San said yesterday that the government will launch a public consultation in the middle of next year on the possible establishment of a company tasked with managing the local version of a “sovereign wealth fund” – officially named Macau Investment and Development Fund Management Limited.
Chan made the remarks when replying to an oral interpellation by directly-elected lawmaker-cum-civic leader Alan Ho Ion Sang during a plenary session of the legislature.
In September, the government formally withdrew its controversial bill which proposed the transfer of 60 billion patacas from the government’s financial reserves for the setting-up of the Macau Special Administrative Region (MSAR) Investment and Development Fund. The bill was to amend the government’s 2019 budget so that it could allocate the 60 billion patacas from its financial reserves and use the amount as the fund’s start-up capital.
Macau Monetary Authority (AMCM) President Benjamin Chan Sau San speaks during yesterday’s plenary session in the legislature’s hemicycle. Courtesy: TDM
