POLICY ADDRESS ECONOMY AND FINANCE
The Secretary for Economy and Finance, Lionel Leong, turned into the Legislative Assembly (AL) to answer lawmakers’ questions about the 2018 Policy Address. The role of the gaming sector in Macau and problems regarding human sources ruled the plenary consultation. Davis Fong expressed his worries at the beginning of the debate approximately the threats to the survival of small and medium-sized enterprises (SMEs), specifically those posed by the gaming operators.
Fong referred to that the Macau authorities have asked that gaming operators increase their non-gaming commercial enterprise factors. Fong wondered whether the government would compel gaming operators to perform non-gaming activities “so that it will keep away from huge influences which eventually gaming operators may additionally pose in the direction of SMEs.”
Ng Kuok Cheong and Lam Lon Wai voiced their issues about gaming operators expanding into non-gaming sectors, including the percentage of locals conserving managerial posts in the gaming sectors. “The percentage of locals at managerial tiers has been continuously increasing,” replied Leong. The Secretary noted that during 2016, “non-gaming revenue reached 10.7 percent,” while the government’s first 5-year plan had set the aspired percent of non-gaming revenue at nine percent.
“If you set the range [percentage] too high, perhaps [gaming operators] will pose a hazard to SMEs. […] Consumers generated through conference occasions have more potent buying electricity than the average client,” explained Leong. He defined that the average expenditure of purchasers brought by a convention is MOP3,520, at the same time as the common consumer spending is around MOP1,900.
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In the third sector, Leong also disclosed that the gaming operators’ total procurement exceeded MOP8 billion, with extra than MOP1 billion being from Macau companies. “The gaming sector is supporting SMEs. There is a high-quality impact which ends from the cooperation among the gaming area and SMEs,” Leong stated. Leong stated that the monetary boom in the first 9 months become nine regarding Macau’s typical economy.3 percent.
When speaking about non-neighborhood employees, the Labor Affairs Bureau (DSAL) director, Wong Chi Hong, disclosed that his bureau recorded 8 cases of violations related to the non-local people employment regulation and that 144 non-local employees allow issued to the agencies changed into canceled.
Leong Sun Iok and Pereira Coutinho raised questions concerning the gaming concessions. Leong Sun Iok expressed hopes that the authority can installation new mechanisms that allow you to permit citizens to proportion the result of the gaming sector. He also needs gaming operators to release a earnings evaluation committee and a social security fund.
Repeatedly questioned approximately the gaming concessions – as a few are because of expiring in 2020 – Lionel Leong cited that the Chief Executive has authority to decide to increase gaming concessions consistent with the law. The maximum duration of the extension is 5 years. The secretary cited that Macau desires to sustain the gaming sector’s health, stability, and competence.
“We will remember [the gaming sector’s] global competence while we make new guidelines once the concession ends. It [the gaming sector] is pinnacle precedence. If we launch our gentle regulations too soon, other places will regulate their rules in keeping with them, and so one can cause fierce opposition and troubles for healthy gaming improvement [for Macau]. We need to all consider the suitable time for us to launch stated rules,” declared Lionel Leong. The Secretary cited that the government is already organized for handling the gaming concessions.
CLEANERS AND SECURITY STAFF KEEP MINIMUM WAGE AT MOP30
Lionel Leong said that the government has already determined to hold the minimal salary for cleansing and protection staff in the assets management industry at MOP30 in step with hour. Leong stated that Macau’s collected inflation from 2012 to 2016 became 19.8 percentage and that the increase over the salaries of the aforementioned employees turned into 34.6 percent throughout the same period. In contrast, the salaries of belongings control doorkeepers elevated sixty-four.6 percentage, and that of safety guards improved by way of 37 percent. Based on this information, the government has determined to preserve the minimum wage on the aforementioned charge.
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Around the world, warfare among paintings and circle of relatives lifestyles is a prime issue. As one supply suggests, ‘globalization, new generation, and excessive stress, 24/7 economic system have blurred the traditional line between domestic and paintings. These changes have created extraordinary wealth. But this achievement has come at a fee. Says one author: ‘Millions’ folks are overworked, overscheduled, crushed. We are just plain confused out. Now upload to this the demoralized effects of the latest financial recession. Workers international, each white color and blue-collar, have misplaced their jobs and their houses. Let us recall the scope of those issues:
Among European workers, 6 out of 10 be afflicted by work pressure; amongst US employees, in three feel chronically overworked; extra than 2 of each 3 feel chronically overworked. It is estimated that over 600 million people, or 22 percent of the global staff, spend extra than 48 hours per week at their task. This information mirror and huge human tragedy. Some studies link long and abnormal hours with terrible health, strained relationships, terrible parenting, separation, and divorce.
What approximately you? Are you working too hard? Or are you some of the thousands and thousands who’re currently unemployed? Do you yearn for a higher balance between work and your own family existence? If so, can you find this via a worthwhile domestic enterprise undertaking?
In these intense times of intense financial melancholy, a top issue has an everyday activity that guarantees enough income to cover the desires of the circle of relatives. Living a satisfying and significant lifestyle obviously entails making time for secular paintings. However, in case you are fed up with the increasing pressure of work. Like many individuals globally who are re-analyzing their priorities and making changes, possibly you’re considering alternative profits move with a worthwhile home enterprise possibility.