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ISSUE 96 - Apr 2012
 
 
What are your expectations for the gross gaming revenue growth of Macau’s gaming industry in 2012?
Decline
Growth above 20 percent
Growth from 10 to 20 percent
Stagnation
 
 

No green light

Issue 18 (10/2005)
Posted: 7/21/2009 5:03:49 PM
Rating:     0% (0 votes)
  

The Environment Basis Law paving the way forward for green policies, dates back to 1991 and was signed by the then government head, Murteira Nabo.
There’s been almost no legislative development since then apart from a few technical documents and an administrative regulations last year, which altered the limitations on air pollution emissions for motorcycles and banned the importation of two-speed bikes.
Despite the fact that since January last year Macau has been signed on to the Kyoto Protocol, little has moved on, apart from the updating of the rules on the importation of harmful hydro-cloro-fluorcarbons which had remained unaltered since 1995.

Clinging to the past

The MSAR is covered by international conventions and treaties signed by China, but little has been done to put them into effect. Even the dispositions of the Environmental Basis Law have not been regulated.
Another area of concern is environmental impact studies as the law underlines: “The plans, projects, works and actions that may affect the environment, the health and the quality of living of the population…should be accompanied by an environmental impact study”.
This tool should be regulated by laws which have yet to see the light of day.
None of this seems to worry the local authorities, however it has already forced a direct intervention by Beijing when it disagreed with the MSAR’s proposal for the construction of an underwater tunnel linking Macau to Taipa, because it deemed its environmental impact to be too high.
The Macau government has said it will conduct environmental impact studies but only after it takes the city’s special circumstances into account, which sounds ominous for green policies.

Reading the signs

The lack of studies is already having an impact. Landfills and casinos on the Cotai strip are affecting the migratory birds that make the territory’s humid zones their home during the winter months.
The survival of the black-beaked spoonbill may actually be endangered, according to some environmentalists. This bird is on the list of animals at risk of extinction – in 2003 there were only 1,069 left.
Under the Environment Basis Law, the chief executive should submit a report on the Status of the Environment to the Legislative Assembly every year.
The document is prepared annually by the Environment Council – which was due to be replaced by the newly created Environment Protection Department at the end of last month and even there, the lack of legislation has been mentioned.
But so far, little concrete progress has been made and one main problem is the lack of incentives for companies to adopt green processes.



Headlines

Facts on Figure April 2010

Home truths

A comprehensive study into Macau's property market says flexibility and caution should be the watchwords as officials shape the future of public and private housing. But most of all, home ownership should be promoted.

Lap of luxury

The Waterside in One Central on the edge of Nam Van Lake is the jewel in the crown of Macau Property Opportunities Funds portfolio. Leasing has just started and prospects are looking good .

Winning bet

A couple of hiccups aside, the Macau Property Opportunities Fund has sailed through the global financial crisis, seeing its asset value increase. The company believes its investment choices have left them well positioned. A Hong Kong listing would make sense, they say, but investors will have the final say.
Other Macau Latest News

More than just gaming

MGM is still waiting for Cotai approval, but Grant Bowie reiterates that it will go beyond just gaming

Okada on ‘fishing expedition’

Wynn’s lawyers accuse the Japanese businessman of trying to find improper acts, which they say never happened

Galaxy to sponsor volleyball tournament

The gaming operator is again backing the Macau stage of the FIVB Volleyball World Grand Prix

New border crossing could drive up shop prices

Property experts say prices in Ilha Verde area could go up 10-fold

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