Sam Hou Fai, the incoming chief executive of China’s Macao Special Administrative Region, has emphasized the imperative of economic diversification for the region’s future prosperity. In a recent interview with China Media Group (CMG), Sam outlined a proactive strategy to integrate Macao into the development of the Guangdong-Hong Kong-Macao Greater Bay Area.
“Economic diversification is not merely a topic for academic research but a pressing issue that demands immediate action,” Sam asserted. “The SAR government must take the lead, adopt a proactive stance, and leverage Macao’s unique advantages to promote regional economic development.”
Sam stressed three key steps in this initiative. “Firstly, the government should spearhead efforts to diversify the economy. Secondly, it must proactively engage with regional partners. Thirdly, integrating Macao into the Greater Bay Area is essential to harness collective strengths and opportunities,” he explained.
By aligning with the Greater Bay Area’s development, Macao aims to enhance its role in regional collaboration and drive sustainable economic growth. Sam’s vision underscores the importance of moving beyond reliance on traditional industries and embracing new sectors to ensure long-term stability and prosperity.
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Economic diversification a 'must': Macao's incoming chief executive
cgtn.com
