Secretary for Economy and Finance Lionel Leong Vai Tac said in a statement on the 4th of January that the government would try to minimise any adverse impact resulting from economic fluctuations on the market and residents’ livelihoods.
The newly-appointed policy secretary also said that to diversify the city’s economy the government would be “proactive in an appropriate manner”, adding that the government would ensure a sound business environment for local small and medium-scale enterprises (SMEs) and a healthy job market.
The statement was released by Leong’s office after his visit to the Macau Chamber of Commerce (ACM) and the Macau Federation of Trade Unions (AGOM; commonly known as Gung Luen) on the 2nd of January.
The secretary also said in the statement that due to various economic factors, the city’s “abnormally” rapid economic development would gradually enter a phase of adjustment and consolidation marked by “normal” and “stable” growth. He also said the government was cautiously optimistic about the city’s future economic development.
“The government has to be cautious as there will be difficulties and challenges ahead…and economic growth will slow down. The government is still optimistic as locals still enjoy good prospects… and with the backing of the central government the city will diversify its economic structure and continue to develop as the ‘one centre and one platform’,” Leong was quoted by the statement as saying. He also pledged that the government would try its best to overcome all difficulties and challenges lying ahead.
“One centre” refers to the aim of Macau becoming a world tourism and leisure centre while the “one platform” refers to the city’s role as a hub for business services between Portuguese-speaking countries and the mainland.
Leong also said that the government was “proactively” diversifying the local economy, adding he believed that Macau’s socio-economic development would remain stable as long as the city can find a proper role while the mainland is modernising.
The secretary urged all sectors and residents to work hard to maintain Macau’s stability and prosperity, vowing that the government would use all possible channels to collect public opinion and come up with more measures and policies to ensure that all residents and business sectors will benefit.
Quoted in the statement, ACM representatives urged the government to come up with measures and policies to ensure a better environment for the city’s enterprises while AGOM representatives urged the government to ensure resident’s employment and better promotion opportunities.