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Letters | How Macau can meet Xi Jinping's expectations 3

Letters | How Macau can meet Xi Jinping's expectations 3

 


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During his visit to Macau 25th anniversaryPresident Xi Jinping spoke of his three expectations of Macau: that it will avoid complacency, attract talent and play a more important role at the international level. I hope that the new general manager of Macau can articulate a clear vision and steer the ship competently. As he embarks on this new journey, let me share some thoughts on this three-pronged strategy.

We have long suffered from diversification fatigue and so we need to be more strategic in this quest. Instead of everyone pulling in multiple directions, for example, with casinos supporting every government-encouraged activity, we should ask each of the six casino operators to focus on a specific area related to their own activities. Instead of just setting goals, they should set ROI targets so that these activities can be self-sustaining rather than being fueled by gaming revenue.

Attracting talent to Macau has been a major issue for years. To be fair, the government has done an excellent job of preserving societal stability, which has been done largely by ensuring near full employment of the local population. There should, however, be a culture change, where non-locals are not seen as taking jobs from locals but as coming to collaborate with them and fuel growth. To avoid a competitive mindset, significant effort should be made to upskill people, rather than reserving certain jobs, such as dealers or drivers, for locals. Just imagine the windfall that could then be gained from exporting best practices, as Las Vegas has done across all gaming regions.

Finally, if Macao has been an excellent diplomatic tool, particularly for promoting China in the Portuguese-speaking world, it still needs to insert itself into the value chain between China and these countries. Macau's best bet is to invest in its brand as the place where East meets West and serve as a platform for Chinese overseas investment. As for inbound investment, President Xi visited Guangdong-Macao region cooperation zone in Hengqin. It would be great if Macau's proven and reliable system could be further applied to Hengqin, giving foreign investors the confidence to invest in the area and participate in the growth of the Greater Bay Area.

Overall, there seems to be a refreshing wave of optimism, probably because we in Macau realize that we really need to do something.

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2/ https://www.scmp.com/opinion/letters/article/3293273/how-macau-can-meet-xi-jinpings-3-expectations

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