MACAO Chief Executive Ho Iat Seng emphasized the importance of upholding and promoting the fine traditions of patriotism and love for Macao while accelerating integration into the country’s development framework. He also stressed the need to expedite the construction of the Hengqin-Macao cooperation zone and continue promoting a moderately diversified economy.

These remarks were made during a themed interview by a media group on Monday about the potential opportunities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and Macao.

Ho stated that despite Macao’s history of Portuguese colonization, the spirit of patriotism and love for Macao has been passed down through generations. “We must use concrete actions driven by patriotism and love for Macao to enhance Macao’s status as an international metropolis,” stated Ho.

In the SAR government’s governance report for the fiscal year 2023, a strategy of “1+4” moderate diversification development was explicitly laid out. The strategy indicates Macao’s goal of becoming a world-class tourism and leisure center, while entailing the continuous advancement of four key industries: health, modern finance, high-tech, as well as exhibition/commerce, culture and sports.

Ho introduced that in 2023, the gaming industry accounted for about 40% of Macao’s GDP, a significant decrease from its peak, while the non-gaming sector contributed 60% to the GDP, signifying a pivotal transition for Macao’s industrial development. Despite Macao’s GDP slightly dipping below pre-pandemic levels of 2019 in 2023, the per capita GDP has nearly reached US$70,000, instilling confidence in a robust economic recovery this year.

Statistical data for the first quarter of 2024 shows a substantial 25.7% year-on-year growth in Macao’s GDP. Ho expressed optimism for maintaining this positive momentum in the latter half of the year, aiming for double-digit economic growth by the end of the year.

The construction and development of the Hengqin-Macao cooperation zone have garnered significant attention. Ho emphasized that with an area of about 106 square kilometers, Hengqin provides substantial support and opportunities for Macao’s development.

When queried about establishing a new platform for mutual exchange and learning between Chinese and Western cultures, Ho highlighted Macao’s role as a melting pot of Chinese and Western cultures. Acknowledging the importance of both Western and traditional Chinese cultures in Macao, he emphasized the inclusive efforts to build a new home in Macao where all residents, including the local Portuguese community, contribute collectively.

(Tang Li)