Macau government starts consultations on economic diversification plan

The Macau government is seeking input from stakeholders as it aims to reduce the city’s reliance on the gaming industry.

Macau.- The Macau government is to hold a series of stakeholder sessions on its Development Plan for Appropriate Economic Diversification of the Macao Special Administrative Region (2024-2028). Commencing today (June 15), the sessions aim to get feedback on plans for sustainable economic growth and diversification.

The proposed development plan encompasses various sectors, including tourism and integrated leisure business, finance, technology, healthcare, meetings and exhibitions, as well as cultural and sports events. With a focus on the next five years, it outlines key projects and tasks associated with each sector.

While the draft plan has not been made publicly available, the aim is to reduce dependence on the gaming sector. Last year’s public tender for new 10-year gaming concessions required applicants to detail non-gaming investments to support economic diversification efforts.

After gathering feedback from stakeholder groups, including Macau deputies, members of political consultative conferences and local councils, the government plans to initiate a public consultation process. The final version of the economic diversification plan will be published after a review and incorporation of stakeholder perspectives.

The six Macau operators collectively pledged a minimum of MOP108.7bn (US$13.48bn) towards non-gaming ventures and exploring overseas markets as part of the concession agreements. 

See also: Macau casino operators to present 2024 investment plans in September