Macau’s economy consolidated but some external instability apparent, says Finance secretary

1 March 2006

Macau, China, 01 March – Macau’s secretary for the Economy and Finances, Francis Tam Pak Yuen, said Tuesday in Macau that the region’s economy was consolidated but warned that there were external instability factors.

Speaking at the “Macau Commercial and Industrial Sector Colloquium, 2006,” organized by the Macau Trade Association Tam said that there were external factors of instability, such as increased regional competition and the continued adjustment of oil prices and interest rates.

According to Tam, government action, in economic terms, should focus on appropriate treatment to deal with these situations.

He guaranteed however, that the trend for Macau’s development is, increasingly well consolidated and that the existence of a few problems and the emergence of new difficulties was merely part of development and progress.

Tam also made use of the event to present the main Government Action Lines for his area, namely perfecting the sector’s structures, supporting the development of small and medium-sized companies, increase the population’s employment skills, improve the business environment and boost regional cooperation. (macauhub)