Economy expected to accelerate to 23% in 2023, growth not expected to surpass pre-pandemic levels until 2025.
Business
Chief Executive laments Macao continues to suffer the effects of Covid-19 and poor visitor numbers, rising unemployment and declining birth rate.
International ratings agency paints cautiously rosy future for city and its main industry, notes Macao’s finances are among strongest across Fitch-rated sovereigns.
Business has been ‘difficult’ but city’s best-known bakery has been able to ‘ride the storm’ with solid earnings while retaining all staff.
Ordinary business category charges reduced by 20%, rates for social housing customers slashed by more than half.
Some migrant workers hope to get incentives as a number of locals think non-resident workers should be included in this new round.
Lawmaker queries lengthy delay in launching point-to-point freight service, which has been held up by changes brought about by Urban Planning Law.
Major industry players step back in the run-up to new laws which aim to clean up gaming and protect Macao’s image as an international leisure destination.
Troubled junket operation, whose former boss Alvin Chau is in custody, ceases travel business which had made up around 12% of its total revenue.