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Macao SAR Govt Gives Priority to Economic Recovery
Edmund Ho Hau Wah, chief executive of China's Macao Special Administrative Region (SAR), said November 9 that next year the SAR government will give priority to speeding up economic recovery.
As the economic magnitude in Macao is relatively small with limited resources, the initiative of local enterprises should be fully displayed while foreign funds and technology should be introduced, the chief executive said in his policy address for 2001 at the Macao Legislative Council.
"Therefore, the SAR government will firstly be dedicated to improving the market environment," he said.
The government will step up the enactment and revision of business laws and decrees so as to regulate the operation of enterprises and bolster their development, Ho said. He emphasized that the government will continue to uphold the basic principle of justice and adopt a mechanism of fair competition. To attract more foreign funds and boost foreign trade, the government will continue to simplify investment and trading formalities, he said.
In an effort to explore more potentials, the government will take more effective measures to make Macao really serve as a bridge between enterprises in the inland areas of China and those in countries using Latin languages, the chief executive said.
With more favorable conditions, tourism departments will continue to improve tourist services and better display Macao's advantage in distinctive cultural features, he said.
As to regional economic cooperation, he noted that Macao has benefited a lot from the motherland which is developing very fast. With its unique geographic location, Macao's limited space of development can be greatly expanded by using the human and material resources in the motherland, Ho said.
"It can be foreseen that the development of the motherland will certainly go faster and relevant changes will surely bring about more opportunities," he said.
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