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tonylai@macaubusiness.com









tonylai@macaubusiness.com






tonylai@macaubusiness.com



ECONOMY

MAJOR GOALS AND TASKS IN THE PROPOSED 2021-2025 DEVELOPMENT PLAN Economic Indicators

Urban Development and Public Works

• Unemployment rate to remain at “a relatively low level” and “a steady hike” in the median monthly earnings of the employed population from MOP15,000 • A “reasonable increase” in the contribution from emerging industries to the city’s gross domestic product from the current share of 8.2 per cent

• At least three rounds of applications for affordable housing — public housing for sale — in the 2021-2025 period • Gradually launch works of “sandwich class” housing • Completion of Islands Hospital in 2022 and gradual operation from 2023 • Complete the formulation of urban master plan for the 2020-2040 period, and start drafting the detailed urban plan for at least five out of 18 districts in the city • Finish the land transportation plan of Macau for the 2021-2030 period by 2022 • Completion of the fourth Macau-Taipa bridge; completion of the Barra extension and Seac Pai Van Line of LRT

Industries • Complete the revision to the Macau Financial System Act and the law on money issuance; finish the legislation of Trust Law and Securities Law; prepare for amendments to the law of insurance agents and rules for investment fund and the management entities • Formulate and improve regulations for the supervision of the equities market • Attract renowned companies in the mainland and overseas to be incorporated in Macau and set up research centres with the state key laboratories in Macau • Launch several subsidy schemes for matching between businesses and research institutions in the field of technology and innovation • More high-level sports events to be held in Macau • Launch a new programme to encourage youngsters to groom new business ideas • Create a national-level MICE platform with Guangdong province

Labour and Talents • New labour importation mechanism with an annual quota, particularly in the fields of health-related industries, hi-tech manufacturing, finance, and culture and sports • Increase the proportion of non-local and graduate students in local universities • Collaborate with local youth groups for training of youngsters to serve the community

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Regional Cooperation and Integration • Work with other GBA cities to attract technological projects and youth start-ups from Portuguese-speaking countries • Attract companies from Portuguese-speaking countries to set up office for the Chinese market in Macau and Mainland Chinese firms to set up office for the Lusophone market in Macau • Facilitate policies to allow vehicles with Macau-registered car plate only to drive across the border beyond Hengqin

Governance and Legislations • Complete the legislative process of a bill for new labour importation mechanism, Urban Renewal Law, Union Law, sandwich class housing regulations, elderly housing rules, a bill for the usage of the territorial waters of Macau, and Confidentiality Law • Improve the national security legislations in the city and further enhance cybersecurity • A cap in the number of civil servants at 38,000 • Issue a new batch of Macau ID cards starting from 2023


“We could not just talk about the city alone for the appropriate economic diversification of Macau anymore,” scholar Joey Lau says. “Through [regional] cooperation, the pie will become bigger for the industries of Macau, which face the market of the 70 million population in the Greater Bay Area and even the 1.4 billion people across the entire nation”

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BY JOSÉ I. DUARTE

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tonylai@macaubusiness.com




























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