The Chief Executive, Mr Edmund Ho Wah, today stressed that the MSAR Government had done much against money laundering in accordance with international practice. He said legislation had been drafted to stop people using Macao for their illegal activities and the draft would be submitted to the Legislative Assembly later in the year, when the legislative year re-opened after the election on 25 September. The SAR Government attached much importance to the healthy operation of both the financial and the gaming sectors, he said. Mr Ho pointed out that the MSAR had always acted in line with the Central Government’s directive that Macao followed internationally accepted practice, especially in developing and monitoring the gaming industry after liberalising the industry. When asked about the effect of the US Government’s allegation’s on a bank, Mr Ho said that it would be expected that Macao’s image would be affected in some way. But he was confident that Macao would rise from the incident and enhance itself. “It is a part of the process in a new economic development. I’m certainly not too worried that there will be any prolonged negative impact,” Mr Ho said.
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