The Macao government is currently contemplating the setting up of an industrial fund and a technology achievement transformation orientation fund.
Tai Kin Ip, the secretary for economy and finance, says the funds are intended to support Macao’s economic diversification by encouraging more large-scale enterprises to establish themselves in the city and boost investment.
During a legislative assembly session yesterday, reported by multiple local media outlets, Tai said that the government was conducting a study into the establishment of the two funds.
The secretary’s comments echo those made by Chief Executive (CE) Sam Hou Fai during his policy address Q&A session last month. At the time, Macao’s leader said that a preliminary study was being conducted by a third-party institution into fund objectives and operation models.
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Tai also spoke about the pre-existing Science and Technology Development Fund, pointing out that the scheme would incorporate new measures aimed at attracting global talent in the field of science and technology, encouraging overseas residents to return to the city to engage in innovation, and supporting the development of a “smart” (technologically advanced) city.
Sam made similar statements at a press conference yesterday, held following the conclusion of a six-day fact-finding tour conducted by Xia Baolong, mainland China’s senior official on Macao affairs.
The CE told reporters that the SAR welcomed investors who are looking to develop in Macao and that his government would seek to attract high quality international talent.
To this end, Sam said his administration would create the conditions for top talent to develop in Macao, although he also expressed hopes that the business and overseas Chinese community would continue to serve as a conduit to help Macao lure high-achieving individuals.
