Ho Hau Wah, the first Chief Executive of the Macao Special Administrative Region (Macao SAR) said in Macao on December 20 that the SAR government will adopt effective measures to promote the recovery and growth of the local economy.

Ho made the remarks at the ceremony marking the establishment of the Macao SAR here this morning. Early this morning he sworn in as the first Chief Executive of the Macao SAR.

Ho said "the establishment of the Macao SAR signifies a new era and new identity for the people of Macao, they will now run their own affairs as masters of their own destiny."

"The continued stability an prosperity of Macao after the handover, and the successful implementation of the 'one country, two systems' principle will bear a vital influence on the cause of reunification in China. I uphold that it is essential for the Macao SAR government to implement firmly the Basic Law by carrying out all the policies and measures in accordance with the fundamental principle of 'one country, two systems'," he said.

He said the SAR government is deeply concerned with the current economic and employment situation in Macao. Economic recovery and growth are the key to ensuring a higher level of employment and giving full play to the potential of its work force. Consequently, one of the most important tasks facing the SAR government is to remove obstacles to economic progress.

"We must open up and introduce reforms. Macao needs to establish extensive contacts, close cooperation and business relations with other parts of the world, and attract foreign investment, human resources, technology and concepts while carrying out on-going internal improvements and maximizing positive local factors, in order to progress and create new opportunities," he said.

Ho said that Macao will inevitably become more closely bound up with Hong Kong and the Pearl River Delta region; efforts will be made to boost the property market by gradually absorbing the many flats and office buildings lying vacant in Macao; tourist industry will continue to be developed while efforts be made to develop new projects and other industries.

"The Macao SAR government will strive to be open and democratic," he said, adding that the SAR government will strive to serve the people of Macao wholeheartedly in the spirit of putting people first.

"As the first Chief Executive of the Macao SAR, I am determined to work relentlessly in establishing, during my term of office, a highly efficient, transparent and accountable public administrative system that genuinely reflects the concept of 'Macao people running Macao'," he said.

He pointed out that the greatest advantage of Macao has been the strength of unity of its patriotic people, and their diligence, initiative and creativity. The goal of Macao is to benefit and achieve prosperity for both the motherland and Macao.