Macau | AL committee plans out seven areas of public investment for the year ahead

Macau (MNA) – The revision of the procurement law tops the list of priorities defined by the Public Financial Matters Follow-up Committee at the Legislative Assembly for the coming year. Speaking after the meeting today, Legislator Mak So I Kun, who is also the chairman of the committee this year, said the committee will be […]

Macau (MNA) – The revision of the procurement law tops the list of priorities defined by the Public Financial Matters Follow-up Committee at the Legislative Assembly for the coming year.

Speaking after the meeting today, Legislator Mak So I Kun, who is also the chairman of the committee this year, said the committee will be following a total of seven areas relating to government’s financial matters.

Other investment areas that will be given priority by the committee include PIDDA, foreign exchange investment reserves, public department office rentals, and pension schemes for civil servants.

PIDDA investment involves investment in public infrastructure projects in the city such as public housing projects.

The committee will also monitor the investment of social security funding, as well as the setup status of the Investment Development Fund (IDF).

The government said IDF is to be set up in 2018.

Regarding the fiscal reserves investment, the committee will follow up on the government’s previous proposal of outsourcing third-party fund managers to handle investments of 20 per cent of the foreign exchange investment reserves.

Meanwhile, Mak reported that the meeting rules for the committee have also been approved by the majority of the committee members.

Legislator Leong Sun Iok said today’s meeting did not specifically discuss whether or not the meeting should be to publicised.

Mak said the meeting involves many sensitive topics regarding government’s policies, claiminmg that publicising the meeting might affect market stability.

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