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Macao's Economy to Grow in 2001: Official
Macao's economy is expected to keep growing this year, despite a slower rate, according to a senior official from the Special Administrative Region (SAR) government.
Acting chief executive of the SAR Francis Tam Pak Yuen told the press Monday that Macao's exports have dropped slightly due to the world's economic slowdown, but the imports, the tourism industry and the gambling business have all scored sound performance.
The SAR's economy grew more than four percent in the year 2000, compared with negative increases in the previous four consecutive years.
Tam, secretary for economy and finance, said that the SAR government will invest more in the construction of public facilities to generate more job opportunities and stimulate domestic demand in the second half of this year. "I am confident of Macao's positive economic growth this year."
The official also noted that the continuous reduction of interest rate in the US banks will help Macao increase exports.
Statistics show that the number of tourists to Macao increased 13.2 percent year on year to 4.21 million in the first five months of this year. The Government Tourist Office has announced a series of measures to encourage visitors to stay longer and spend more in Macao.
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