Macau financial services platform under discussion in Portugal

9 April 2018

The installation in Macau of a financial services platform between China and the Portuguese-speaking countries will be discussed on a trip to Portugal next June, the Macau Secretary for Economy and Finance Leong Vai Tac told the Portuguese language channels of Teledifusão de Macau (TDM).

The secretary also told the broadcaster that the delegation travelling to Lisbon will include specialists and academics from the financial sector and representatives of China’s financial authorities.

Leong Vai Tac said he believes that the development of the financial system will result in a change in the structure of the Gross Domestic Product and will encourage the development of the insurance and recognition areas, thus giving rise to more companies that provide professional services.

“I believe that, in this way, more quality employment opportunities can be provided to young people who will also have more options in terms of entrepreneurship,” he said.

The future of the gaming industry was the focus of much of the interview, but Leong insisted that it is too early to reveal what will happen when the current concessions end in March 2020 and June 2022.

“When all the [gaming] contracts come to an end, we will need to conduct an international public tender, the form of which, of course, should be defined by law,” said the Secretary for Economy and Finance. (macauhub)