The “Plataforma” earlier interviewed Prof. Fung Kwan, Assistant Professor of the Department of Economics and Research Fellow of Asian Economics at the Asia-Pacific Academy of Economics and Management, to discuss the diversification of Macao economy and social responsibility.
Fung Kwan said that the Government of Macao Special Administrative Region has been committed to the development of the diversification of the Macao economy. According to the data provided by the Statistics and Census Service in 2019, the gross domestic product (GDP) of the gaming industry accounted for 50.5% of the local gross domestic product (GDP) before the pandemic, an increase of 1.5% compared to that in 2018. He believed that the Government of Macao Special Administrative Region could urge the casino operators to strengthen their corporate social responsibility in Macao more proactively in the future and adopt more measures to promote economic diversification at the same time.
In terms of fulfilling social responsibility, Prof. Fung Kwan said that currently the gaming enterprises only allocated minimal budget from their revenue to those activities. He believed that in the future, through the amendments and requirements of the franchise laws, the gaming operators would be required clearly to achieve the level of professionalism to diversify the local economy. Meanwhile, the gaming enterprises must also be required to bring in international renowned companies into the local market to make the best contribution to Macao’s economic diversification.
Source: Faculty of Social Sciences