Criticas Johnson Ian
may25
In April, Chief Executive Sam Hou Fai delivered his first Policy Address, titled “Innovate to elevate; forge ahead to break new ground,” which has captured the public’s attention. In May, the focus of local society shifted to the number of tourists during the May Day Golden Week. However, both major events have been less than satisfactory, and the city’s economy seems to have lost its direction. The SAR government failed to implement effective countermeasures.
In the new government’s first Policy Address, aside from a slight increase in some social welfare measures and the introduction of the new “childcare subsidy” programme, the short-term economic stimulus plans that were eagerly anticipated by the business sector and the public—particularly the consumption vouchers or similar measures that had previously boosted market confidence—were disappointingly absent once again. In contrast, a number of long-term development plans have emerged as highlights of the document, such as four key projects: the establishment of an “international” university town for Macau and Hengqin, the creation of an international tourism and cultural zone, the construction of the Macau Pearl River West Bank International Air Transport Hub (Port), and the development of a technology park.
In the face of the present economic quagmire, these grand plans have failed to generate public interest. The current economic difficulties are the most pressing issues that society is concerned about and needs to address urgently.
Critically speaking, these projects remain largely in the conceptual stage, lacking detailed planning and feasibility studies, not to mention being made public. For instance, the international tourism and cultural zone and the technology park do not even have confirmed locations, let alone defined industrial layouts, development strategies, or operational plans! The so-called “four key projects” are unlikely to give an immediate boost to Macau’s precarious economy, while their long-term effectiveness is also in doubt. Moreover, it remains uncertain whether they will become “white elephants” requiring government subsidies. The public does not have the capacity to worry about the future. How can distant prospects soothe the current anxieties of the market? How can it avoid making the public feel uncertain about Macau’s future?
The government’s plan of the “four key projects” and visions like the Greater Bay Area lack immediate effectiveness and a clear path, making it challenging to resonate with the public. Long-term planning is certainly essential, but without the survival of “today”, how can there be a better tomorrow? The phrase “No today, no tomorrow” has become a popular saying among local residents online.
https://www.macaubusiness.com/opinion-macaus-economy-a-slow-remedy-cannot-address-an-emergency/
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