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Macau Chief Executive optimistic over future of gambling industry

TAGs: Chief Executive Reflections, Fernando Chui, Macau

Macau Chief Executive optimistic over future of gambling industry Macau Chief Executive Fernando Chui Sai On published a recorded speech with an optimistic message on the future of the Macau gambling industry.

Chui, for the first time, shared his thoughts in an audio file available on the government’s website on Sunday. The Chief Executive’s Office website added “Chief Executive Reflections,” a new form for the residents to share and express their views on social, economic and livelihood issues.

In the speech, Chui encourages the residents to stay positive and patient despite a collapse in gaming revenue, pointing to low unemployment rate, strong financial position, and a number of large investments.

Chui also cited a Lonely Planet study that rated the city as one of the top ten regions of the world to visit this year as a sign of a positive trend of overall development.

“Recently, the gaming industry, one of the economic pillars of Macau has entered a period of adjustment and consolidation. The local economy is adjusting its speed, hence the concerns we have identified in society,” Chui said.

Chui also said that steady growth had been made toward diversifying Macau’s economy to non-gambling tourism and making Macau a world center for tourism and leisure, not just gaming.

He also stressed that Macau still maintained its advantages, and one source of its stamina comes from the “one country, two systems” principle, which has produced many positive side effects such as 15 years of continuous Special Region development, advance growth for the economy and a stable and harmonious society.

“Our objectives are clear; our direction is right. Just follow towards the same goal, united in heart and strength for us to overcome all the difficulties and challenges posed before us. It is a goal that we can certainly achieve,” Chui added.

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