The Macao Special Administrative Region Government signs a document on the establishment of the Government Guidance Fund with Galaxy Casino S.A.
(Macao – 24 October 2026) A signing ceremony for the establishment of a government guidance fund took place in the afternoon on Friday (23 October) at the Government Headquarters, marking the fund’s official launch.
The ceremony was witnessed by the Chief Executive, Mr Sam Hou Fai; the Director of the Liaison Office of the Central People's Government in the Macao Special Administrative Region (MSAR), Mr Zheng Xincong; and the Secretary for Economy and Finance, Ms Ng Wai Han. The agreement was signed by the Chairman of Macau Investment and Management Company Limited, Mr Che Weng Keong, and representatives from Macao’s six integrated tourism and leisure enterprises.
The initial size of the government guidance fund is 20 billion patacas, consisting of 11 billion patacas contributed by the MSAR Government from the accumulated returns on fiscal reserves over the years; and a total contribution of 9 billion patacas from the six integrated tourism and leisure enterprises as the first private capital investors.
The fund has been established under and will be operated in accordance with Law No. 11/2025, the Investment Funds Law, and Administrative Regulation No. 26/2026, the Regime on the management of government guidance funds, and is managed by the Macau Investment and Management Company Limited.
The fund adheres to the principles of long-termism and patient capital, adopting a three-tier structure comprising a “guidance fund”, “parent fund”, and “sub-fund”, with the “parent fund” and “sub-fund” managed through a market-based mechanism by professional fund managers selected through an open selection process.
The fund focuses on investing in emerging industries, industrial transformation and upgrading, the commercialisation of scientific and technological achievements, and start-up technology companies. It aims to support the coordinated development of Macao and the Guangdong-Macao In-depth Cooperation Zone in Hengqin, and the Guangdong-Hong Kong-Macao Greater Bay Area.
In her address, Secretary Ng pointed out that this year marks the start of the country’s 15th Five-Year Plan and Macao’s Third Five-Year Plan. The MSAR Government is proactively aligning itself with the national development plan, making every effort to implement the “1+4” appropriate economic diversification strategy, and continuously enhancing the resilience of Macao’s economy. Promoting appropriate diversification is a “must-do” for Macao, requiring joint efforts from the MSAR Government and all sectors of society.
Industrial upgrading, technological innovation and the commercialisation of research findings require long-term and substantial financial investment. Drawing on the experience of neighbouring mature markets, the MSAR Government has established the government guidance fund as an innovative financial policy measure. Through fund investments and market-based management mechanisms, this initiative mobilises social capital, enabling public policy and the market to work in concert to foster Macao’s emerging and future industries, thereby embodying the organic integration of “proactive government” and “efficient market”.
Secretary Ng emphasised that the six integrated tourism and leisure enterprises, which are firmly established in Macao, play a vital role in advancing Macao’s development as a world centre of tourism and leisure. They also continue to fulfil their investment commitments in non-gaming sectors as stipulated in their concession contracts, thereby contributing to Macao’s appropriate economic diversification.
The establishment of this government guidance fund is the outcome of amicable negotiations between the MSAR Government and the six enterprises. It embodies the spirit of collaboration between the MSAR Government and the business community, as well as the business sector’s firm confidence in Macao’s future development. Secretary Ng expressed her gratitude to the six enterprises for their support, and thanked the working teams from both sides for their efforts in setting up the fund.
Also present at the signing ceremony were: the Director of the General Office of the Liaison Office of the Central People’s Government in the MSAR, Ms Li Guoming; the Director-General of the Economic Affairs Department of the Liaison Office of the Central People's Government in the MSAR, Mr Liu Decheng; the Chief of Office of the Chief Executive's Office, Ms Chan Kak; senior officials under the Economy and Finance portfolio; and advisors from the Office of the Secretary for Economy and Finance.
