Chief Executive Edmund Ho today (8 May) said that Macao has to enhance cooperation with East Asian countries to boost the territory's economy as well as to facilitate stability in the region.

Mr. Ho's speech at the forum on "Economic Cooperation in East Asia in the 21st Century" stressed that due to globalization, strengthening cooperation among East Asian countries was one of the most important strategies that Macao should adopt.

Mr. Ho also mentioned that organizational efforts were in full swing for the 4th East Asia Games, which will be held in Macao in 2005, added that this is a chance for Macao to integrate into East Asian regions.

The Chief Executive discussed the successful implementation of the "One Country, Two Systems" strategy in Macao and the recent achievements of the enclave.

"With support from the Central Government and reinforced cooperation with local entrepreneurs, significant growth in the tourism industry has been achieved, resulting an increase in GDP by 2.1% in 2001," said Mr. Ho.

Regarding economic development, the Chief Executive said that liberalization of monopolies was an important policy, noting the success in the liberalization of the telecommunication and gaming industries.

Mr. Ho highlighted that perfect legislation and effective management in the gaming industry would help to boost Macao's economy, adding that the Government would strive to stabilize public order as well as to increase the effectiveness of the administration.