Tai Kin Ip, the secretary for economy and finance, has doubled down on the government’s aim of developing a diversified and sustainable industrial structure to bolster the local economy’s resilience against external risks.
His comments were made last week at a seminar organised by the Economic and Technological Development Bureau (known by its Portuguese initials DSEDT) and reported by Macau Post Daily.
The event, held at the Forum Macao Complex, gathered government officials and academics to discuss the link between economic diversification and national economic security.
[See more: Macao sees business growth and stable financial indicators in the second quarter]
Tai noted that Macao’s economy was transitioning from recovery-driven growth to new development. Preliminary figures indicate a 5.1 per cent year-on-year increase in the city’s Gross Domestic Product (GDP) in real terms during the second quarter of this year.
Given the evolving international landscape, Tai emphasised that economic diversification was crucial for the SAR to resolve deep-seated socioeconomic challenges and ensure its long-term stability and prosperity, Macau Post Daily reported.
Tai also stated that the government would continue to enhance regional cooperation. This includes advancing the development of Hengqin and strengthening industrial synergy and regulatory alignment between Macao and Hengqin.
