MAY25 F or the first time in its 17–year existence, the government’s Wealth Partaking Scheme – which distributes cash handouts to residents yearly – has been amended. Following public outcry that the government should use public funds more wisely and allocate them only to those residing full time in Macau, the Executive Council (ExCo) yesterday presented a new version of the scheme that includes a provision excluding those who did not stay in Macau for at least 183 days in 2024. As the Secretary for Administration and Justice and spokesperson for the ExCo, André Cheong noted during a press conference at Government Headquarters, there are eight exceptions to the “183 days” rule. These include: those who have not reached 22 years of age by Dec. 31, 2024, with at least one eligible parent for the handout; those receiving disability or subsidy allowances as of Dec. 31, 2024; those abroad enrolled in tertiary education programs; and those hospitalized abroad; those over 65 living in ma...
mar26 New fund ‘opens doors’ to China for Lusophone entrepreneurs – chamber of commerce https://macaubusiness.com/new-fund-opens-doors-to-china-for-lusophone-entrepreneurs-chamber-of-commerce/ mar26 Scholars endorse gov’t MOP11 billion allocation for diversification development S cholars say the government’s plan to establish a MOP11 billion guiding fund to support economic diversification could help professional asset management institutions identify high-quality local enterprises with strong competitiveness and sustainability, while attracting social capital to the region. The initiative involves allocating at least MOP11 billion from fiscal reserves to create a government-led fund aimed at promoting appropriate diversification of the local economy. In conjunction with the initial batch of social capital, authorities anticipate that the fund’s total scale will reach MOP20 billion. Secretary for Economy and Finance Anton Tai outlined the fund’s objectives at a recent press confer...
mar26 One of Macau’s top priorities is to identify a new economic growth source, Chief Executive Sam Hou Fai has told a scientific and technological development committee. During the committee’s first plenary session of the year on Wednesday, Sam urged the city to cooperate with neighbouring Hengqin to contribute to the country’s pursuit of technological advancements. Macau is not ‘absent’ and ‘falling behind’, the city leader told the session, stressing the need to find ‘highlights’ in its collaboration with Hengqin. He added that research and development work should not be carried out for the sake of burnishing an image. All the investment that goes to R&D efforts will translate into fruitful results serving as an industrial driving force, he explained, emphasising applicability and comprehensive efficacy. Sam’s administration is currently drafting a five‑year plan in alignment with its national counterpart, known as the 15th Five‑Year Plan, with technology taking centre sta...
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