Macao — Sam Hou Fai, the incoming chief executive of China’s Macao Special Administrative Region (SAR), has declared economic diversification as a top priority for the region’s future.
In a recent interview with China Media Group, Sam emphasized that economic diversification is not just a theoretical concept but a pressing question that demands concrete answers. “The SAR government should first take the lead, secondly must be proactive, and third should integrate Macao into the development of the Guangdong-Hong Kong-Macao Greater Bay Area,” he said.
Sam highlighted the importance of leveraging Macao’s unique advantages to promote regional economic development. By actively participating in the Greater Bay Area initiative, Macao aims to diversify its economy beyond its well-known gaming industry.
The Greater Bay Area is a national plan to link the economies of Hong Kong, Macao, and nine cities in Guangdong province, creating a powerhouse in technology, finance, and innovation. For Macao, which has heavily relied on tourism and casinos, economic diversification is seen as crucial for sustainable growth.
“Economic diversification is not a topic for research, but rather a clear question that must be answered,” Sam reiterated, underlining the urgency of implementing practical measures to broaden Macao’s economic horizons.
As Sam prepares to take office, many are watching to see how his administration will navigate the challenges and opportunities ahead. His commitment to driving economic diversification signals a proactive approach to ensuring Macao’s prosperity in the dynamic landscape of the Greater Bay Area.
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Economic diversification a 'must': Macao's incoming chief executive
cgtn.com
