Macao should leverage advantages of China-Portugal platform and steadily lay foundation for future development: Sam Hou Fai
"An economic and trade cooperation service platform for China and Portuguese-speaking countries" is the functional positioning given by the Central Government to the Macao Special Administrative Region. Developed for over twenty years, Macao has continuously leveraged its platform role, utilizing its unique advantages in connecting China and Portuguese-speaking countries to provide new opportunities for global businesses. Recently, the Chief Executive-designate of the Macao SAR, Sam Hou Fai, stated that since establishing the China-Portugal platform in 2003, the permanent secretariat has been operating smoothly, with the participation of nine Portuguese-speaking countries, achieving remarkable results.
Sam mentioned that Macao should fully leverage its economic and trade advantages with Portuguese-speaking countries. As a major manufacturing nation, China has strong manufacturing capabilities. Macao can serve as a platform to assist mainland enterprises, especially those in the Greater Bay Area, in the manufacturing, home appliance, and new energy sectors to expand globally and fulfill a platform role.
He also noted that many Portuguese-speaking countries are coastal nations with rich fisheries, and domestically, there are fishing-heavy provinces like Zhejiang. Macao can consider leveraging its platform advantages to collaborate with coastal Portuguese-speaking countries to enhance fisheries capabilities and foster mutual development.
Sam previously proposed the four major visions of "Macao Built on the Rule of Law," "Dynamic Macao," "Cultural Macao," and "Happy Macao" in his election manifesto.
He stated that these visions are not just campaign slogans; once proposed, efforts should be made to unite various sectors of Macao society and implement them with the active support of the central government and the nation. Macao has the conditions to achieve these visions in terms of politics, economy, finance, society, and livelihoods.
Macao is currently at a crucial stage of economic transformation. In promoting moderate economic diversification, Sam has put forward some new ideas. "Due to heavy reliance on the tourism and gaming industries, during the three years of the epidemic, the SAR government has utilized over MOP$160 billion to stabilize society, livelihoods, and the economy. Therefore, economic diversification is not a topic for discussion but a question that must be answered, which everyone deeply understands."
Sam also mentioned several approaches: firstly, after years of study, the SAR government proposed the Development Plan for Appropriate Economic Diversification; secondly, the government has sufficient fiscal reserves to establish some guiding industry funds to create an investment-friendly environment; thirdly, to respond to the "One Centre, One Platform and One Base," namely a "World Centre of Tourism and Leisure," a "China-Portuguese-speaking Countries Commercial and Trade Service Platform," and an "exchange and cooperation base with Chinese culture as its mainstream and co-existence of different cultures," integrating the development of the In-depth Cooperation Zone in Hengqin through coordinated economic policies, civil and commercial laws, and fiscal policies; fourthly, by mobilizing private sector expertise through research institutions, especially the University of Macau, to explore industry routes suitable for Macao's moderate economic diversification.
During the election process, Sam deeply felt that while Macao's social and livelihood development has progressed rapidly, there are still many shortcomings. Regarding livelihoods, a certain proportion of the population still lives in poverty in Macao.
"How to more precisely alleviate poverty and enhance the happiness and sense of achievement of the majority of citizens since the return to China is a question that the SAR government needs to consider."
"I'll give an example. In the early days of Macao's return, Mr. Edmund Ho (then Chief Executive of the Macao SAR) proposed providing a subsidy of MOP$500 to every elderly person aged 65 and above. Now, a 65-year-old senior citizen receives subsidies, social security, various welfare benefits, allowances, and government subsidies, totaling MOP$74,000, over MOP$6,000 per month. Therefore, the people of Macao deeply feel this kind of experience," Sam said.
However, is a monthly subsidy of about 6,000 patacas enough for the elderly in Macao? Sam's answer is negative. "Our annual social security fund expenditure is about MOP$4.9 billion. Although our social security system has been improved, with increased income and more subsidies, many citizens still feel the pressure brought by social and economic development and inflation. Therefore, how to further improve the social security system, making social welfare more inclined towards vulnerable groups and low-income groups, is also something we need to advance in the future."
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