Macao’s economic outlook for the medium- to long-term, continues to be stable with modest growth, despite the short-term volatility wrought by a second wave of the pandemic in countries overseas.

Speaking to reporters today on the sidelines of a National Day reception, the Secretary for Economy and Finance, Mr Lei Wai Nong, pledged that the Government had initiated further plans to overcome COVID-19 adversities, and would implement them with support from the Macao public.

The Government had planned infrastructure projects worth more than 17.7 billion patacas for next year, seeking to boost not only domestic demand, but also to create job opportunities, Mr Lei said. The construction industry was evolving in  technology- and data-based directions, and the Government would assist construction workers to enhance skills appropriate to those directions, he added.

Secretary Lei said Macao was still experiencing the pressure of seeing a modest increase in the unemployment rate among residents, which most recently was at 4 percent. It represented a rise of 400 individuals, mainly people who had been in either the casino junket business; hotel, wholesale or retail work; or construction, Mr Lei noted.

The Government would launch further paid-training initiatives, with a quota of up to 60,000 places for those eligible. The aim would be to hone their skills and ensure they were better prepared for future employment, Mr Lei stated.

Since January, the Government had provided job-matching services to approximately 1,320 construction workers; and about 2,940 people from, respectively, the retail sector, and the food and beverage sector, Mr Lei noted.

During the COVID-19 alert, the Government had launched two rounds of economic relief measures aimed at countering the adversity faced by members of the public. Those measures involved 52.8 billion patacas, representing the equivalent of 12 percent of the gross domestic product achieved locally during 2019, Mr Lei stated.

The Secretary urged members of the public to prepare well in case of unforeseen circumstances, as it seemed the economic effects of the pandemic might last for a longer period of time than had been expected.

The degree of positive effect wrought by the resumption, since 23 September, of visa issuance under the facilitated individual travel scheme for mainland China residents wishing to visit Macao as tourists, had to be evaluated in the light of actual conditions in the market, and taking into consideration the epidemic-control measures in place on the mainland, as well as Macao’s public health measures, Mr Lei said.