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Macao Official: Gaming is Engine for Economy20 November 2002MACAO – As reported by the (China) People's Daily: "Chief Executive Edmund Ho Hau Wah expressed Wednesday his confidence on an even brighter future of China's Macao Special Administrative Region (SAR). "Macao's economy is tipped to expand around 4 percent in the coming year, the chief executive told the press after delivering the policy address for 2003. "…Since Macao returned to the motherland at the end of 1999, the SAR economy has witnessed a sustained and healthy development. "The gaming industry will achieve relatively better growth, while some other industries will have to face difficulties in the long term. "…Greater efforts will be exerted in the coming year to cement the role of tourism and gambling industry as the engine for Macao's economy. "`Tourism and gaming industry is the sector that we will focus on in the near-term development,' he said in the policy address. "…According to statistics, tourist arrivals in the SAR jumped a year-on-year 10.6 percent to 9.46 million from January to October,buoyed by huge influx of China's inlanders. The number of tourists to Macao hit a record of more than 10 million last year and the figure for this year is set to be even larger in line with estimates from local officials and market watchers…" |