Macau development on positive trend says Chui

Monday 11th of May 2015

Macau’s Chief Executive Fernando Chui Sai On said Macau’s overall development maintains a “positive trend,” but urged citizens to be aware of any challenges that may lie ahead.

Speaking via an audio message released on his official website, Chui said the local unemployment rate of 1.7 percent in the first quarter remains low and that the government’s financial situation is stable and solid, with the gaming industry adjusting to new conditions.

“Many people have recently raised their concerns about the future of Macau’s economy. Therefore, I am making use of this platform to share my thoughts with everyone.”

“The gaming industry, one of the economic pillars of Macau, has entered a period of adjustment and consolidation. As the local economy is slowing down, civil society is feeling anxious,” the chief executive said in the message.

Chui, who is seeking to diversify the economy away from gambling, said the non-gaming industries are growing while gaming-related businesses are stable.

“During 15 years of progress the local economy has enjoyed rapid growth and its resources are prepared for any future developments. The non-gaming sector of the gaming industry is continuing to grow… gaming-related businesses such as tourism, hotels and retail have maintained stable growth,” Chui said, adding that the government’s target remains to to develop Macau into a “world tourism and leisure centre.”