In White Paper For SMEs 2012, we have pointed out that because of the tilt in policy, the government’s evasion of its responsibilities and the design of government policies and legislation which resulted in a free rein being given to the gaming industry, there have been calls for such a review for years.
As we all know, the gaming industry is a “virtual economy”. Looking around the world’s major economic systems, their economic pillars are mostly dependent on the “real economy”, such as manufacturing and service industries. SMEs in developed countries usually account for 30%-50% of GNP, while SMEs in Macao contribute only about 20%-25% of GDP, and the ratio is absolutely unreasonable.
We believe that the reversal of the Macao economy is a good time for the authorities to review Macao’s economic development strategies. We hope that the SAR Government will seize the opportunity to build Macao into a high-quality international city that President Xi has continuously called for.