{"id":28066,"date":"2022-03-15T06:58:52","date_gmt":"2022-03-15T09:58:52","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28066"},"modified":"2026-04-23T10:32:22","modified_gmt":"2026-04-23T13:32:22","slug":"macau-to-continue-to-promote-economic-diversification","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-to-continue-to-promote-economic-diversification","title":{"rendered":"Macau to continue to promote economic diversification"},"content":{"rendered":"\n<p>Macau&#8217;s chief executive Ho Iat Seng has said the city will continue with the implementation of its second five-year economic and social development plan for 2021-2025.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.-\u00a0<strong>Ho Iat Seng<\/strong>, Macau&#8217;s chief executive, has confirmed that the territory will continue with its\u00a0<strong>Second Five-Year Plan for Economic and Social Development for the 2021-2025 period<\/strong>. Speaking at the 2022 Plenary Session of the Council for Economic Development, he reaffirmed Macau&#8217;s commitment to diversifying its economy. <\/p>\n\n\n\n<p>Ho Iat Seng emphasised that the SAR government will promote the revision of the\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-gaming-law-amendment-bill-first-reading-approved\" target=\"_blank\">new gambling law<\/a>\u00a0to consolidate and improve the development of the city&#8217;s main industries. Authorities want to\u00a0<strong>promote industries<\/strong>\u00a0such as medical and health, modern finance, high-tech, exhibition and trade, and culture and sports.<\/p>\n\n\n\n<p>The plan points out that while ensuring the stable development of the gaming industry, Macau needs to\u00a0<strong>promote the development of creative and distinctive non-gaming industries<\/strong>\u00a0to attract more international and diversified tourists.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-publishes-plan-for-economic-diversification\" target=\"_blank\">The five-year plan was released<\/a>\u00a0last year to promote the acceleration of economic diversification and cooperation with other regions given the severe impact of the Covid-19 pandemic on Macau&#8217;s economic structure. <\/p>\n\n\n\n<p>The plan actually says little <strong>about the future of the gambling industry<\/strong>. In one of the few mentions, it says the authorities intend to &#8220;continuously increase the mass market&#8217;s share of gaming revenue&#8221; and strictly review inquiries about the increase of gaming tables.<\/p>\n\n\n\n<p>The government proposed to increase mass market revenue, improve industry laws and regulations, strengthen supervision and rigorously test new slot machine applications.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Macau&#8217;s chief executive Ho Iat Seng has said the city will continue with the implementation of its second five-year economic and social development plan for 2021-2025.<\/p>\n","protected":false},"author":176,"featured_media":26764,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's Chief Executive Ho Iat Seng has reaffirmed the territory's Second Five-Year Plan (2021-2025), emphasizing economic diversification away from gaming. The plan promotes non-gaming industries such as modern finance and high-tech, alongside a commitment to revise the gambling law, increase mass market gaming revenue, and strengthen supervision of the gaming sector.","focusai_entities":"Ho Iat Seng, Council for Economic Development","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.9), operator_casino (0.95), investor_analyst (0.9), supplier_vendor (0.75), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Gambling Law Amendments?","query":"What specific amendments are anticipated in the revised gambling law, and how will these impact the operational frameworks and concession terms for existing gaming operators in Macau?"},{"label":"Non-Gaming Diversification Targets?","query":"What are the quantifiable targets for non-gaming revenue contribution, and what fiscal incentives or policy mechanisms will be implemented to accelerate investment in the identified diversification verticals?"}],"footnotes":""},"categories":[157,16338],"tags":[23906],"class_list":["post-28066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=28066"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28066\/revisions"}],"predecessor-version":[{"id":28101,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28066\/revisions\/28101"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26764"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}