Chief Executive, Mr Chui Sai On, takes questions from legislators at a plenary session of the Legislative Assembly.
The Government would spare no effort in diversifying the economy structure during consolidation period of gaming industry, by boosting the development of non-gaming element and strengthening regional co-operation, said the Chief Executive, Mr Chui Sai On, today. The efforts in developing non-gaming elements, such as retail, hotel, construction and financial services, had been achieving positive results, as revenue from these sectors had reached 190 billion patacas last year compared to 350 billion patacas of gaming revenue in the same period. Mr Chui said this when he attended the plenary session of the Legislative Assembly to share more his vision on government policies and other social issues. On mid-term review of gaming industry, the Government would complete the preliminary draft by the end of September and would expect to finish the whole process by this year. The review is to get a closer look on the city’s six gaming concessions which will expire between 2020 and 2022. Mr Chui said the Government was cautiously optimistic to the development of the industry, given that Macao’s gaming revenue topped many places across the world, and the industry was highly competitive as Macao had trained a large number of personnel to support its development. The integrated projects under construction were also highly competitive, as they had world-class facilities. He stressed the Government had adequate reserves to face any economic situation. As of June, the Government has 349.9 billion of reserves, including 131.9 billion of basic reserves and 218 billion surplus reserves; surplus reserve was expected to be was 308.3 billion while foreign currency reserve was 144.1 billion in 2014 after settled the accounts. He disclosed the Government was currently analysing articles for establishing an investment fund to manage the usage of surplus reserves, and would standardise its investments on the basis of secure, and with guarantee on principal and returns. To further co-operate in the country’s development strategies, the Government would enhance its co-operation networks with regions and countries included in Silk Road Economic Belt and 21st Century Maritime Silk Road initiative (“One Belt, One Road”), and areas in Pan-Pearl River Delta. He said the Government would work with all its strength to provide more support to emerging industries and small- and medium- enterprises (SMEs), and to provide more entrepreneurship opportunities to young people through regional co-operation. On employment, the Government would step up effort to improve upward mobility of workers and to provide more on-the-job training and opportunities to work in non-gaming positions. He stressed the Government upheld the employment rights of local people and there was a set of measures to regulate and withdraw non-resident workers. On social security, he disclosed the draft bill for non-mandatory central provident fund system would be submitted to the Executive Council by this year, as to set up a system that could further enhance quality of life of residents. During the session, Mr Chui took questions about welfare of civil servants, waste management and disposal, welfare for athlete, medical services, talent cultivation, the city’s carry capacity, judiciary system and others from 32 legislators.