Macau establishes public capital company to drive economic diversification

The Macau Government has announced the establishment of a public capital company tasked with managing funds intended to promote the diversification of the city’s gaming-dependent economy.

The new Macau Investment and Management Company Limited will oversee fund operations, make financial decisions and carry out investment execution.

It will also have a specialized team responsible for areas such as investment, risk control, research and legal compliance.

Meanwhile, the objective is to advance industrial modernization, deepen cooperation with Hengqin, and create skilled jobs that benefit both businesses and residents.  

A guidance council comprising government officials, professionals, and academics will also be formed to advise on policy and strategic planning related to the funds.

The Office of the Secretary for Economy and Finance indicated: “The measure is part of the objective to align Macau with the National 15th Five-Year Plan, promoting industrial modernization and the transformation of scientific and technological results.

Earlier this year, authorities unveiled plans for a Government Guidance Fund, expected to launch later this year with an initial MOP 11bn allocation from the financial reserve.

The plan is for the fund to reach a total size of MOP 20bn, combining public funds with the first tranche of private capital.

Furthermore, the fund’s objective would be to “play a leading role” in mobilizing private capital to diversify Macau’s economy.

Investments must align with the priority emerging industries identified by the Macau Government.

Macau has pushed diversification in other ways recently, for example with new bus tour...

At the beginning of the month, Ng Wai Han was renewed as Director of Macau’s Gaming Inspection and Coordination Bureau (DICJ) for another one-year term, extending her leadership of the regulator as the territory continues to monitor casino concession commitments and gaming revenue recovery.