Opening Address by Minister of State for Trade and Industry Gan Siow Huang at the Macao SAR of the People’s Republic of China Cocktail Reception

尊敬的岑浩辉(Cén Hàohuī)行政长官,

曹忠明 (Cáo Zhōngmíng) 大使，

各位嘉宾,

女士们、先生们

Introduction

1. 大家下午好！非常高兴出席今天的招待酒会，也欢迎岑行政长官和澳门企业代表团到访新加坡。

2. 澳门与新加坡长期保持友好密切的关系。双方在经贸、旅游、教育及人文交流等领域合作成果丰硕，优势互补、合作空间广阔。希望通过今天的交流，我们进一步深化伙伴关系，共同开拓新的发展机遇。

3. 接下来，我将以英语发言。

Singapore – Macao’s Bilateral Relationship

4. Bilateral economic ties between Macao and Singapore have been growing steadily. In 2025, total merchandise trade increased by 36.3% to S$374 million. Around 40 Singapore companies have invested in Macao, while over 50 Macao companies have established a presence in Singapore. These growing business links reflect the confidence that our companies have in each other's markets and the potential for further collaboration.

5. As small economies, Singapore and Macao share many common experiences. Like Singapore, Macao has long served as a gateway connecting people, businesses and cultures across regions.

6. Historically, Macao played an important role linking China with international markets, while Singapore emerged as a key trading and maritime hub connecting Southeast Asia with the wider world. Although we are located in different parts of Asia, our success has been built on many of the same foundations: openness, connectivity, and a commitment to creating opportunities through international exchange. These shared experiences continue to provide a strong foundation for our partnership today.

Macao as a Gateway to the Greater Bay Area

7. Today, Macao continues to evolve while remaining true to these strengths. As an important gateway to the Greater Bay Area, Macao is well positioned to benefit from one of China's most vibrant and innovative economic regions. The development of Hengqin is opening up new avenues for growth and supporting Macao's efforts towards economic diversification.

8. Under the "One Country, Two Systems" framework, Macao has continued to enjoy stability and prosperity. Its economy grew by 4.7% in 2025, while unemployment remained low. These achievements reflect Macao's resilience and strong development momentum.

9. At the same time, Singapore continues to serve as a gateway to Southeast Asia, connecting businesses and investors to the opportunities of ASEAN. Together, our two cities are uniquely positioned at the intersection of two of Asia's fastest-growing regions.

Deepening Collaboration for the Future

10. There is significant potential for Singapore and Macao to deepen our collaboration in the following two areas.

11. First, we can deepen cooperation in tourism and urban development. Singapore’s Tourism 2040 roadmap sets out the next chapter of our tourism development, anchored by quality tourism. As part of this journey, Singapore seeks to strengthen tourism partnerships and connectivity with destinations across the region, including Macao. Both Singapore and Macao have developed internationally recognised tourism sectors and destination brands. There is much we can learn from each other's experiences in creating attractive visitor experiences, developing integrated tourism offerings, and building vibrant, liveable cities. Our direct air links, operated by Scoot and Air Macau, together with the MoU between the Macau Government Tourism Office and the National Association of Travel Agents Singapore that parties are signing today, provide a strong foundation for further tourism exchanges. Building on this momentum, Singapore looks forward to deepening two-way tourism flows and collaboration with Macao, including the sharing of best practices and the development of meaningful partnerships among industry players and tourism stakeholders.

12. Second, we can work together to seize new opportunities for growth in our regions and future economies. As businesses increasingly look beyond their home markets, Macao and Singapore can serve as trusted partners that connect the Greater Bay Area and Southeast Asia, helping companies access new opportunities and build stronger networks across both regions. At the same time, we can deepen collaboration in areas that will shape our future economies, from digitalisation and innovation to sustainability and eldercare. By bringing together our businesses and institutions, we can develop practical solutions and create new avenues for growth.

Closing

13. I am confident that, by building on our shared strengths and complementary roles, the Singapore-Macao relationship will continue to grow from strength to strength in the years ahead.

14. On that note, I wish everyone a fruitful discussion and an enjoyable afternoon.

15. Thank you.