Macao’s leader says gross gaming revenue needs to hit 230 billion patacas in a year before sufficient taxes will be generated to end the deficit.
Chief Executive Ho Iat Seng
Predictably, the labour sector is in favour but a leading business figure warns that the raise will be passed on to consumers in the form of higher prices.
Speaking at a reception to mark Portugal Day, Macao’s top official hailed the territory’s unique mix of Portuguese and Chinese cultures as one of its core strengths.
Despite the last quarter’s strong performance, officials are urging prudence, warning that the economy is still in recovery.
Xia Baolong is on a four-day fact-finding visit to Macao, following a similar visit made last month to Hong Kong.
Chief Executive Ho Iat Seng told legislators in April that the Macao government would “proactively promote” the emergence of a local bond market.
After four days in Portugal, Macao’s top official prepares to meet Luxembourg’s Prime Minister Xavier Bettel, before heading to Brussels for talks with Belgian and EU officials.
The preservation of the Portuguese language in Macao, and what de Sousa termed the rights “agreed between the countries in 1999”, will be on the agenda.
Courses in AI, robotics and medical administration, among other subjects, come as the government calls for the growth of new industries to support economic diversification.
