Cen Haohui stated that the competitive situation of the tourism Gambling industry in Macau is intensifying, and the development of diversified industries is not meeting societal expectations.
According to the Zhitong Finance APP, Macau's Chief Executive Cen Haohui stated that the internal and external environment for Macau's development is believed to continue undergoing profound changes and transformations. Especially this year, the Global economy faces many uncertain and unstable factors, and Macau cannot remain unaffected. Meanwhile, the competitive landscape of the tourism Gambling industry in Macau is intensifying, and the development of diversified industries is not meeting societal expectations. The risks and challenges faced by Macau cannot be ignored and must be given more attention for response.
Cen Haohui pointed out that regarding the internal economy of Macau, it is expected that the structural issue of the Gambling industry being dominant will likely be difficult to fundamentally change for a considerable period of time; additionally, problems such as a single source of customer structure, imbalanced fiscal and tax revenue sources, and insufficient innovation capability still need to seek better improvements and solutions.
He mentioned that the new economic cycle includes changes in multiple models, such as consumer patterns and consumer concepts, presenting significant challenges. How to properly address the inadequacies and imbalances in Macau's internal economic development during the economic recovery process, the unsatisfactory development of diversified industries as per societal expectations, the common difficulties faced by SMEs in Macau, and how to truly enhance cooperation with Guangdong-Macau in the Hengqin development to better support Macau's economic development, these old problems and new challenges cannot be avoided and must be faced directly.