Saturday, June 15, 2024 - Login

Incoming Macau chief warns against overreliance on gaming sector

Chief Executive-designate Ho Iat Seng has told state broadcaster China Central Television that it is it is “unhealthy and unsustainable” if Macau tries to develop itself on the basis of a single industry.

Ho told the interviewer that currently the average monthly income among young locals exceeds 20,000 patacas, and that about 80 percent of local university graduates are working in the gaming sector because of its “better salaries.” Ho said that this was not only an issue for young Macau people’s future development, but also may stunt their entrepreneurial spirit.

Ho also contrasted Macau with the situation in Hong Kong, arguing that there are no problems with the “One Country, Two Systems” principle, adding that Macau was determined to become an example for the nation’s reunification.

In September, Ho also emphasized the need to guard against “foreign influences” having a hand in Macau’s affairs.

The current government’s five-year term ends at midnight on December 19. Ho and ten other principal officials are scheduled to be sworn in on December 20.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

Contact us

PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief