Macau leader says flexibility, innovation to help tackle uncertainties
Macau’s Chief Executive Sam Hou Fai has said the city will be capable of navigating uncertainties in the future as long as it embraces flexibility and innovative thinking. This holds true especially for a fast-changing international landscape that the city is to witness, he said in his Lunar New Year message.
Drawing inspiration from the Year of the Snake, he focused on three key qualities: wisdom, agility, and fortune. “May the Year of the Snake bring us wisdom and power,” Fai said.
“Looking back at the past Year of the Dragon, many extraordinary stories unfolded in the land of the lotus, leaving many unforgettable beautiful moments,” he said. He was referring to the 25th anniversary of Macau’s return to Chinese rule and 75 years since the establishment of the People’s Republic of China.
Various measures and policies deployed
Fai looked back on last year and noted that a raft of measures and policies were deployed for the city by Beijing. These include the recent new visa policy by Macau for mainland Chinese residents from Zhuhai and Hengqin. This has led to a sharp rise in tourist arrivals, with visitor numbers from Zhuhai increasing by over 26 percent year-on-year.
The policy, implemented on 1 January, allows residents with household registration and residence permits in these regions to apply for multiple-entry visas. These permits, valid for one year with unlimited entries capped at seven-day stays, are expected to add 20,000 daily visitors from these areas.
The city’s gaming industry also may witness a profound transformation as stricter regulations on deposits and limitations on gaming promoters take hold. The changes, implemented over the past four years, might position the city as a mass-market tourism destination, reducing reliance on the high-rolling VIP junket segment, as per a
Delving deeper into the gaming industry, as Macau grappled with regulatory transformations in its gaming industry, satellite 바카라s also find themselves at a critical juncture.
Gauging further into the gaming sector, S&P Global Ratings estimated that Macau’s gross gaming revenue (GGR) could grow by 5 to 6 percent in 2025. While the outlook remains positive, analysts have warned of potential risks impacting the region’s gaming industry. These include a slowed growth due to a weaker Chinese economy.
Endeavours from all sectors important
Fai added that the concerted endeavours from all sectors of society have helped the city achieve a steady economic recovery and harmonious stability.
Talking about the uncertainties that the city is to face, he said, “Although there are various uncertainties on the road ahead, and the international situation is constantly changing, the strong backing of our great motherland, the institutional advantages of ‘one country, two systems,’ as well as the solidarity and cooperation of all sectors of society are our greatest strength.”
He also mentioned the need to face challenges to create the future with flexible and innovative thinking. The Chief Executive emphasised the importance of ensuring the basics for residents’ welfare and tackling the issues they face in daily life.
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