CE meets Singapore Deputy Prime Minister Gan Kim Yong

MACAU, August 31 - The Chief Executive, Mr Sam Hou Fai, today met with Singapore’s Deputy Prime Minister and Minister for Trade and Industry (Trade), Mr Gan Kim Yong. The two exchanged views on enhancing economic and trade exchanges between Macao and Singapore, and on deepening cooperation in areas including higher education, the digital economy, and industrial transformation.

The Chief Executive arrived in Singapore on Saturday (29 August) for an eight-day official visit covering three Southeast Asian countries: Singapore, Indonesia, and Malaysia.

During today’s meeting, Mr Sam briefed Mr Gan on Macao’s overall economic situation and development strengths. Macao benefits from the institutional advantages of the “One country, two systems” principle, enjoying the status of a free port and a separate customs territory, and operating under a simple and low-tax regime with free capital flows, a sound legal system, and an open market. These attributes make Macao an important bridge connecting the Chinese mainland with international markets.

Additionally, Macao is deeply integrated into the development of the Guangdong-Hong Kong-Macao Greater Bay Area and, through the integrated development strategy of Macao and Hengqin, is well positioned to leverage the vast opportunities within the Greater Bay Area, added Mr Sam.

Singapore has long been a Southeast Asian regional hub for international finance, trade, shipping, and technological innovation. It also has accumulated rich and long-standing experience in industrial diversification and modern services, as well as in technology research and development. In particular, Singapore’s successful avoidance of overreliance on individual industries, and its success in fostering new growth drivers, offers valuable lessons for Macao as it advances its appropriate economic diversification.

Macao and Singapore have long maintained close economic and trade ties, with solid foundations for cooperation, shared development philosophies, and strong industrial complementarity, said Mr Sam.

The Chief Executive added that the Macao-Hengqin International Education (University) Town – one of the four key projects under the Third Five-Year Plan for Economic and Social Development of the Macao Special Administrative Region (2026-2030) – aimed to attract talent from around the world. Given Singapore’s strength in hosting several world-renowned universities, there would be significant potential for enhanced collaboration in education and talent development.

In addition, Singapore’s strengths in the digital economy, industrial transformation, international trade, and healthcare, combined with Macao’s unique role in connecting the vast Chinese mainland market with Portuguese-speaking countries, can form a new framework of mutually-beneficial cooperation. The two sides should continue to deepen industrial linkages and resource alignment, to achieve synergistic development, Mr Sam stated.

Deputy Prime Minister Gan said that he had previously been aware, through his work-related channels, of the rapid development and continuous transformation of Macao and other cities in the Greater Bay Area. After listening to the Chief Executive’s detailed briefing, he had gained a deeper understanding of Macao’s unique advantages, and the new opportunities brought by Macao-Hengqin integration.

Mr Gan added that this visit would certainly spark greater interest among Singaporean enterprises in establishing operations in Macao and Hengqin. He also noted that Singapore and Macao share many similarities in terms of investment environment and lifestyle. Both cities are highly open, socially inclusive, and harmonious, he said, noting that there is broad scope for future collaboration across multiple sectors.

Also present at the meeting were: the Chinese Ambassador to Singapore, Mr Cao Zhongming; Macao’s Secretary for Economy and Finance, Ms Ng Wai Han; the Chief-of-Office of the Chief Executive’s Office, Ms Chan Kak; and the Consul-General of Singapore in Hong Kong, Mr Eric Teo Boon Hee.

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