Gov’t Hosts Consultation on 5-Year-Plan for Non-Gaming Boost
Macau/ Venture/ Money

Macau Gov’t Hosts Consultation on 5-Year-Plan to Boost Non-Gaming Revenue

Macau Govt Hosts Consultation on 5 Year Plan to Boost Non Gaming Revenue

The government of Macau, through the Policy Research and Regional Development Bureau (DSEPDR), has taken a significant step towards economic diversification by launching a public consultation for its first-ever five-year plan.

The draft plan, which aims to reduce the dependence on the gaming industry, focuses on boosting the four "new industries" under Macau's "1+4" diversification strategy.

The primary objective of the plan is to lower the gaming industry's contribution to Macau's local GDP from 51%, from pre-pandemic figures in 2019, to approximately 40%.

While the gaming industry accounts for a significant portion of government revenue, specifically around 80% through taxes, the plan seeks to increase the importance of other industries without compromising the vital role played by the gaming industry in the government's annual budget.

During the 30-day public consultation period, the DSEPDR accepts submissions from the public and key economic sectors for review and consideration. The consultation process will also include public sessions on Aug. 23, 25, and 26, providing stakeholders with the opportunity to express their opinions.

Get the latest curated content with The Beat Asia's newsletters. Sign up now for a weekly dose of the best stories, events, and deals delivered straight to your inbox. Don't miss out! Click here to subscribe.

This Week's Events In Macau View more

Sign up to receive updates on what's going on in the city. Don't miss out on exciting events, news, and more. Sign up today!

By submitting your email, you agree to our Terms and Privacy Notice
Thank you for subscribing! Click here if you were not redirected.