The Macau SAR Government has announced that seven different government departments will be responsible for supervising and pushing the implementation of non-gaming investment plans by Macau’s concessionaires as part of its Development Plan for Appropriate Economic Diversification.
According to the 10-year concessions signed by the city’s six concessionaires in December 2022, investment is required into 11 projects, including international tourism, developing MICE, developing entertainment, holding major sporting events, promoting art and culture, developing health-based tourism, creating themed amusements, promoting Macau as a “City of Gastronomy”, developing community-based tourism, developing maritime tourism, plus various other projects including developing Macau as a “tech” center.
The projects must also include inter-departmental cooperation with the Macau government.
On Friday, the government announced the list of departments and officials responsible for these projects under the “Development Plan for Appropriate Economic Diversification of the Macao Special Administrative Region (2024-2028)”.
The non-gaming investment projects will be followed up by three Secretaries of Departments – Secretary for Social Affairs and Culture, Secretary for Economy and Finance, and Secretary for Transport and Public Works – and a total of seven departments under their purview. These are the Gaming Inspection and Coordination Bureau (DICJ), the Macao Government Tourism Office (MGTO), Office of the Secretary for Social Affairs and Culture, the Cultural Affairs Bureau (ICM), the Sports Bureau (IDM), the Health Bureau (SSM), and the Marine and Water Bureau (DSAMA).
In September last year, the six concessionaires submitted their non-gaming investment plans to the government, although there has been limited information released on these plans.
However, because last year’s gross gaming revenue exceeded MOP$180 billion (US$22.4 billion), the concessionaires are required under their contracts to increase their non-gaming investments by 20% over and above their original commitment.
The government’s “Development Plan for Appropriate Economic Diversification of the Macao Special Administrative Region (2024-2028)”, unveiled in November, put forward its “1+4” appropriate and diversified development plan, with the integrated tourism and leisure industry leading the development of four emerging industries in big health, new and high tech, modern finance, and MICE and cultural industry.
The plan includes 81 key industry sectors and 215 key projects.
