Macau announces third five-year economic and social development plan

The government of the Macau Special Administrative Region has announced its third five-year economic and social development plan, covering the period from 2026 to 2030. Chief Executive Sam Hou Fai outlined four primary objectives for the region: achieving economic diversification through large-scale projects and government support funds, deepening integrated development with Hengqin in Guangdong province, accelerating urban renewal to create a ‘smart’ Macau, and strengthening connections with mainland China and the international community.

The plan aims to align Macau’s growth with China’s national 15th five-year plan while leveraging the unique advantages of the ‘One Country, Two Systems’ principle. Key focus areas include utilizing state-level laboratories in computing, microelectronics, the Internet of Things, and lunar and planetary sciences to bridge the gap between scientific research and commercial application.

Additionally, Macau intends to bolster cooperation with countries involved in the ‘Belt and Road’ initiative, as well as Portuguese- and Spanish-speaking nations, positioning itself as a bridge between China and the rest of the world.