The bill also proposes raising public servants’ salaries and continuing the annual cash handout to residents.
Business
The ambitious target has been laid out in Macao’s latest five-year plan, but could prove challenging given gaming’s enormous contribution to the economy
Weaning Macao off the mainland gaming market will cost money. The government has suggested a figure of 235 million patacas.
The latest figure reflects the gaming bonanza brought about by October’s “golden week” holiday, when the city welcomed almost a million visitors.
Down more than 10 percentage points month to month, Macao’s hotel occupancy rate for September was back where it was near the start of the year.
The legislation is geared to helping Macao become a financial hub as part of the SAR’s plan to reduce its overwhelming economic dependency on gaming.
Strong promotional campaigns for the iconic motor-racing event should ensure a healthy influx of visitors during November, officials say.
The airline says it’s working with Indonesia’s civil aviation authority to resolve the issue, but it does not appear to be selling flights on this much-anticipated route for the foreseeable future.
Holograms and iridescent paint will be a feature of the new notes, which are expected to go into circulation early next year.