Macau, China, June 15, 2026 (Lusa) - Reducing dependence on casinos is a priority for Macau’s new secretary for economy, but this may be delayed by restrictions on the entry of workers from abroad, analysts told Lusa on Monday.
Ng Wai Han, who until now has been the casino regulator in the world’s gambling capital, took office today as Macau’s secretary for economy and finance.
“Expectations (…) are high and centre on the ability to balance (…) local priorities for economic diversification and the difficulties faced by small businesses,” Carlos Cid Álvares said.
The president of the Macau-China Chamber of Commerce and Industry (CCILC) noted that reducing dependence on gambling is part of China’s “national objectives”.
Casinos accounted for almost half (47.3%) of Macau’s Gross Domestic Product (GDP) in 2025. If tourism is added to gambling, then this sector accounts for 74.1% of the local economy.
This is something that “does not appear easy and will take time (five to ten years), with gambling set to remain the government’s main source of revenue”, predicts Félix Pontes, former director of the Macau Monetary Authority.
Taxes on casinos accounted for 85.6% of the territory’s total current public revenue in the first five months of the year.
Cid Álvares hopes that Ng Wai Han will use state funds and tax incentives to “foster small and medium-sized enterprises [SMEs]” and promote industries such as financial services and traditional Chinese medicine.
Investing in new sectors is essential for a “small and open” economy, which Félix Pontes sees as “highly vulnerable to geopolitical tensions and the negative effects of China’s economic slowdown”.
The economist lamented, however, that “irrational restrictions on importing skilled labour” have been “inevitably delaying” the diversification of the economy.
Since August 2023, Macau has not accepted new applications for residency from Portuguese nationals for the “specialised technical functions”, allowing only justifications based on family reunification or a prior connection to the territory.
As a result, for example, the number of Portuguese nationals becoming residents of Macau fell to 23 last year, a far cry from the record high of 390 recorded in 2013, according to official data provided to Lusa.
Carlos Cid Álvares, who is also chair of Banco Nacional Ultramarino, part of the Caixa Geral de Depósitos Group, warned that “many small high-street businesses” are at risk of closing.
This is due to online shopping and the greater ease of travelling to the neighbouring city of Zhuhai, where prices are lower, lamented Cid Álvares.
The Macau government called for the digitalisation of SMEs and the creation of local aggregator platforms, whilst also introducing “selective tax exemptions” and less bureaucracy to facilitate the online sale of Macau’s “unique products” in mainland China.
Ng Wai Han replaces Anton Tai Kin Ip, who resigned for personal reasons in April after just over a year as executive secretary. The post had been vacant for almost two months.
Ng had been leading the Gaming Inspection and Coordination Bureau (DICJ) since May 2025, during a period “marked by a lack of any significant development”, the founder of gambling consultancy IGamix told Lusa today.
“Industry leaders believe that the DICJ has become less transparent and less willing to provide information,” added Ben Lee.
Ng Wai Han is leaving the regulatory body at a time when investment in non-gambling elements is “the most pressing issue, which has been the subject of many questions from investors”, the analyst emphasised.
The six casino operators in Macau have committed to investing “more than 100 billion patacas” (€10.7 billion) in the non-gambling sector by 2034.
With more than a third of the concession period already passed, “the lack of any significant progress” in setting targets for “concrete investments” is “worrying many investors and creating uncertainty”, Ben Lee warned.
VQ/ADB // ADB.
Lusa
