In order to achieve the goal of transforming Macau into a World Centre of Tourism and Leisure the government will soon form a committee, the Macau SAR's Chief Executive Chui Sai On said in his Policy Address on 23^rd March.

The committee, to be headed by the Chief Executive himself, will be charged with drawing up a five-year development plan for Macau on all fronts, including tourism and leisure, transportation, housing and employment, as transforming Macau into a World Centre of Tourism and Leisure implies first of all making the city an ideal one in which to live, highlighted the CE in his presentation to the Legislative Assembly.

In addition, Chui Sai On confirmed that the government is paying close attention to the city's capacity to receive visitors, especially during the Mainland's peak travel periods. A report has been submitted to the Central Government, he said, for the optimisation of the Individual Visit Scheme, in order to strike a balance between residents' quality of life and visitors' travel experiences.

“We cannot reach a saturation point in terms of visitors. That will be beneficial neither to Macau residents nor to tourists for they will not feel at home. Twelve years ago, the Individual Visit Scheme was created in order to help Macau. We appreciate it. Now it is time to change it but we have to bear in mind that this change will have be a win-win decision for both parties", he said in a press conference following his Policy Address, while stressing the need for the territory to diversify its source of tourists.

Mr. Chui said adequate economic diversification was the trend of development. The Chief Executive highlighted the government's support for the development of the convention and exhibition, cultural and creative, and Chinese traditional medicine industries, and the cultivation of environmental protection.

After more than a decade of rapid growth, the gaming sector has entered an adjustment period, which started in the latter half of last year. Nevertheless, the Chief Executive said Macau's economic foundations remain sound, citing strong performances by the retailing, hospitality and construction industries.

Despite declining gaming revenues, the CE said that social policies will not be affected or changed. “In the budget for this year, we had already estimated that revenue from taxes from gaming would go down. Our budget is very sensible and so it will not change our social policies, although it is worth mentioning that we have to be more careful", he said.

The Policy Address was also the opportunity for the CE to announce a new age for the gaming industry in which sector operators are encouraged to better balance gaming and non-gaming operations. The year of 2015 is also set to be crucial for the industry because of the beginning of the process of renewing the gaming concessions.

The highlights of the 2015 Policy Address included: 1. Coping with internal and external changes via concerted efforts; 2. Building a liveable city for quality living 3. Promoting optimum economic diversification; 4. Bettering livelihood measures, and 5. Enhancing good governance.

More information available at: http://portal.gov.mo/web/guest/govinfo/policy-address