Macau’s secretary for economy and finance has stressed the importance of non-gaming development.
Macau.- Lei Wai Nong, Macau’s secretary of economy and finance, has stressed the importance of changing the city’s reputation from that of a city for gambling. He said that non-gaming would become a major economic driver in the next ten years.
During a plenary session of the Legislative Assembly (AL), Nong stressed that the gambling industry would have to give way to other sectors, such as MICE, culture, modern finance and Chinese medicine. He said Macau should pursue and develop these in the long term with the support of the government.
According to Macau Business, Nong said: “Non-gaming will have to become another field of economic development in the next ten years. Non-gaming elements and gaming elements must come become two important economic pillars in the future.
“Tourists used to perceive Macau as a gambling city because of the past 20 years of gaming development. What we need to change is Macau’s image as a gambling city, that’s why the SAR Government cares so much about non-gaming.”
Wong noted that Macau casino bidders have been required to invest in non-gaming during the future ten-year concessions in order to make the city more competitive globally. He said this was necessary to increase the diversity of visitors to Macau.
Ho Iat Seng, Macau’s chief executive, recently said that one of his administration’s main goals is to ensure that non-gaming accounts for 60 per cent of Macau’s GDP in the future.