Macau’s Secretary for Economy and Finance, Lei Wai Nong, said Wednesday that the government plans to invest MOP$235 million (US$29.2 million) in 2024 to attract foreign tourists.
He also confirmed that the non-gaming investment plans of Macau’s six concessions for next year were submitted to the government in September.
According to the new gaming concessions signed last December, concessionaires need to invest a combined MOP$108.8 billion (US$13.5 billion) in non-gaming investments in the next 10 years.
The Macau government announced the development plan for Macau in the next five years on Wednesday, and Lei mentioned the non-gaming investment plans of the concessionaires at the press conference.
“The six Macau concessions have already submitted their non-gaming investment plans for next year in September.
“Each year, concessionaires are required to submit a full investment plan and commit to fulfilling it. The investment plans for this year were submitted in March.
“The concessionaires are also required to submit monthly and quarterly reports.”
He added, “The concessionaires are not helping the government by submitting their investment plans, they are honoring their contractual commitments.”
Expanding international clientele is a key policy implemented by the government since the COVID-19 pandemic and is also one of the responsibilities concessionaires must help fulfil.
According to its five-year plan, the government hopes that by 2028 or earlier, the number of foreign tourists visiting Macau will be restored to the 2019 level or even higher.
“The government will spend a budget of MOP$235 million next year to promote Macau to the international visitor market,” Lei said.
In addition, the government’s plan for the next five years mentions that Macao International Airport is expected to start its expansion project next year, with scheduled completion by 2030 – increasing its annual passenger capacity from 10 million to 13 million.
