The Macao Special Administrative Region (MSAR) Government will proactively align its policies with the country’s 15th Five-Year Plan and scientifically formulate Macao’s Third Five-year Plan for Social and Economic Development (2026-2030), setting out development goals for the next five years. Meanwhile, the Government will continue fully to support small and medium-sized enterprises (SMEs) in enhancing their competitiveness, and will work to revitalise the community economy, ensuring priority of employment for local residents.
The Chief Executive, Mr Sam Hou Fai, made the remarks on Wednesday (19 November) during a question-and-answersession at the Legislative Assembly about the 2026 Policy Address. On Tuesday (18 November), Mr Sam had delivered at the Legislative Assembly the 2026 Policy Address, titled “Accelerate Reforms and Efficiency with Keen Determination, Overcome Challenges and Promote Diversification with Fortified Efforts”.
The country’s 15th Five-Year Plan will be a critical stage for China to achieve the fundamentals of socialist modernisation. The MSAR Government has already conducted a comprehensive review of Macao’s Second Five-year Plan for Social and Economic Development (2021-2025) and initiated the drafting of the third one. Such work is actively aligning with the country’s 15th Five-Year Plan, in order effectively to implement the MSAR’s strategic arrangements as part of national development. This will further leverage the advantages of the “One country, two systems” principle, and enable Macao better to integrate into, and serve, the overall national development framework.
Regarding appropriate economic diversification, Mr Sam pointed out that the MSAR Government is committed to fostering new quality productive forces in Macao, in accordance with local conditions. Efforts are being made to carry out relevant policy studies, including: the ongoing study regarding an international science and technology industrial park; and research into development plans for Macao’s science and technology sector, exhibition and convention industry, and financial services for the period 2026 to 2030.
Meanwhile, greater efforts will be made to: optimise port management; advance facility connectivity to enable movement of people, vehicles, and goods; and actively coordinate integrated development in education, science and technology, and talent cultivation, thus injecting further momentum into the drive for appropriate economic diversification.
Mr Sam said the MSAR Government was dedicated to promoting SME development, and will enhance SME competitiveness through strengthened financial support, capacity-building assistance, and brand development. A series of pro-enterprise measures will continue. They include: tax reductions and exemptions; the interest subsidy scheme for SME bank loans; the subsidy scheme to encourage business upgrade and development; and the launch of the 2026 SME digital support service to help businesses build brand visibility.
The Government will also: encourage residents and visitors to tour local neighbourhoods and spend money in them; and expand initiatives such as the concerts + community consumption incentive scheme, in order to revitalise the community’s economy. Mr Sam stressed that the Government would work with SMEs to respond to changes in the business and consumer landscape. The Government would do its utmost in areas within its capacity, while SMEs must also assume primary responsibility for their own business operations, he said.
The Government remained firmly committed to ensuring priority of employment for local residents, the Chief Executive said. The Employment Promotion Coordination Working Group has been established and has already carried out extensive work, successfully assisting local residents in securing employment through channels such as job fairs, targeted matching sessions, and employment referrals.
The Government is also encouraging residents to enhance their employability, and is cultivating qualified human resources of the type required by the industries under the “1+4” appropriate economic diversification strategy, through targeted training. The recently-launched integrated vocational training platform consolidates resources from various public departments and higher education institutions, offering a variety of training and certification courses to achieve efficient alignment between training and job-market demand, thereby providing greater convenience for residents to participate in training.
Mr Sam said the Government would also continue to integrate effectively data on labour market vacancies, ensure that public works projects and service contractors prioritise hiring local employees, and encourage financial institutions and higher education institutions to release more job opportunities to local residents.
The Chief Executive stressed that safeguarding employees’ rights is a key Government priority. Enhancing labour standards, including annual leave, maternity leave, and statutory holidays will be among the first items addressed in the upcoming amendment of the Labour Relations Law, with public consultation to be launched as soon as possible. In addition, the maternity leave pay subsidy scheme will be extended by one year until the end of 2026. Whether this extension would become permanent will be assessed based on actual socioeconomic developments, he stated.
Mr Sam said that, regarding progress on the four major key projects earmarked by the Government, relevant work was advancing in an orderly manner. The Macao-Hengqin International Education (University) Town will be developed in three phases. The Macao international integrated tourism and cultural zone is currently the subject of extensive public consultation, with one of its proposed complexes – tentatively named the Macao national cultural museum – expected to begin architectural concept design tendering and related work in 2026. The international air transport hub (port) on the west bank of the Pearl River is comprehensively advancing airport expansion and reclamation work, while the Macau International Airport pre-clearance cargo terminal in Hengqin recently commenced construction.
Regarding the Macao science and technology research industrial park, the Government has established a preparatory working group led by the Chief Executive to oversee the project. Public consultation will be launched by the end of this month, with plans to establish the Macao international science and technology industrial centre in 2026 as a pilot and testing platform for the park.
Mr Sam noted that Macao already hosted many outstanding mid-sized scientific research enterprises, but lacked a concentrated development zone. Therefore, the industrial park would be developed based on the principles of enterprise demand and market orientation, prioritising the introduction of businesses in four key sectors – integrated circuits, biomedicine, digital technology, and aerospace technology – in alignment with Macao’s prevailing conditions.
In response to lawmaker questions on Guangdong-Macao integration, Mr Sam said that at the beginning of this year, the MSAR Government initiated, together with the Executive Committee of the Guangdong-Macao Intensive Cooperation Zone in Hengqin, the establishment of the China-Portuguese (Spanish) Speaking Countries Economic and Trade Service Centre. This non-profit institution would serve as a platform to promote practical cooperation across multiple sectors, assist mainland enterprises in going global, and attract international investors to settle in Macao and Hengqin.
Mr Sam added that financial cooperation with Portuguese- and Spanish-speaking countries has already achieved results. The Government would actively conduct joint investment promotion focusing on key industries, and showcase the development opportunities of “Macao + Hengqin” to the outside world. The aim is to attract financial institutions from Portuguese- and Spanish-speaking countries to establish operations in Macao and Hengqin. A regular currency swap mechanism will be introduced, along with a new "convenient renminbi funding arrangement" offering longer-term renminbi financing. The Government will also vigorously promote Macao’s bond market and the project for a digital Macao pataca.
Regarding the upcoming implementation of the Investment Funds Law, Mr Sam said the law will take effect on 1 January, 2026. Comprehensive promotional and outreach efforts were currently under way, to ensure a seamless transition for the industry.
Targeted tax incentives will be introduced to attract high-quality fund management entities to Macao. The MSAR Government is also advancing work on establishing government industry funds and guidance funds, and hopes to attract more private equity funds in the future to achieve mutual growth, which will significantly support Macao’s appropriate economic diversification, the Chief Executive said.
