SAR should restart business as soon as possible – Macao Economic Association

Macau should employ a “vibrant zero-covid” strategy in which citizens are required to perform long-term nucleic acid tests regularly and restart business activities as soon as possible, the Macau Economic Association said in the economic prosperity index report.

The association said the partial containment measure led by the SAR government asking all industrial and commercial enterprises to suspend their activities for a week has a positive effect on the control of the pandemic but has had a negative impact on economic and social development.

Therefore, the association suggested the authorities to follow the “dynamic zero covid policy” in the long term, after the number of cases discovered in the local community is reduced to zero.

The “dynamic zero-covid policy” refers to the strategy that citizens are subjected to frequent nucleic acid testing regardless of their likelihood of contracting the virus, with quarantine management conducted for those who test positive. and their close contacts, instead of ordering a large scale lockdown for all citizens.

During the Health Bureau press conference yesterday, the health authorities indicated that Macao will adopt “standardized measures for the prevention and control of Covid-19” in the future, in which the nucleic acid test will be performed regularly even after the pandemic outbreak this time. happened, in order to monitor the situation and prevent a possible future epidemic.

Meanwhile, the association stressed in the report that the government should strive to have a quarantine-free customs entry policy with mainland China again and fully restart economic activities as soon as possible.

The pandemic outbreak and the tightening of the customs entry policy have had a significant negative impact on local economic recovery, and the SAR will lose both mainland and international tourists for a long time if the pandemic outbreak still cannot be brought under control, the report notes. .

In addition, the SAR government should improve economic support measures by MOP 10 billion ($1.2 billion) and ensure that the financial aid scheme covers as many businesses and residents as possible, while the measures should be implemented without further delay, the association suggested.

According to the report, Macao’s economic prosperity index in May, June and July was 1.9 points, 1.8 points and 1.7 points respectively, which shows that the local economy is facing a very serious challenge due to the impact of the current pandemic.

Under the influence of complex factors, including a high global inflation rate, tight monetary policy and repeated pandemic outbreaks, the consumer confidence index in mainland China is hovering at a low level, while the volume Macao’s tourist numbers, gross gaming revenue, stock prices of the six franchise games, and hotel occupancy rate also remained at a low level, the association said.

Gross gaming revenue in June fell 62.1% year-on-year to MOP 2.48 billion, and Macau M2 money supply in May fell 4.1% year-on-year to 674.49 billion MOP.

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