The development of a financial services platform in Macao, able to offer new services such as credit insurance, will demand “many” specialised staff and training, according to economist Rodrigo Brum.
Business
Gaming and junket activities’ share of Macao’s gross domestic product rose by 0.2 percentage points from 50.7 per cent in 2018 to 50.9 per cent last year.
Macao’s gross domestic product (GDP) dropped by 63.8% year-on-year in real terms in the third quarter of this year.
At Thursday’s opening ceremony of the International Environmental Crisis Management Forum and Exhibition (IECMF), Macao Trade and Investment Promotion Institute (IPIM) President Benson Lau Wai Meng said in a speech that Macao’s expo business was gradually making a comeback.
Melco Resorts and Entertainment has launched a “Made-in-Macao” initiative to support local small and medium-sized enterprises (SMEs) by promoting new local production and manufacturing industries.
A total of 2,542 building units and parking spaces were purchased and sold in the third quarter as per stamp duty records, a decrease of 3.6 per cent quarter-to-quarter.
Macao’s foreign exchange reserves amounted to MOP 187.60 billion (US$23.50 billion) at the end of October 2020, according to preliminary data released by the Monetary Authority of Macao (AMCM) on Monday.
Liu said that restrictions on “blue cards” are not the best way to protect local workers, not least because “if it is well managed” competition is positive.
Sands will hold a “Sands Mega Brand Sale” offering up to 90 per cent discount on over 200 international brands on 26-29 November.