As an important development in public policy, the Macau government will not directly manage the subsidiaries of public enterprises, but will focus on the management of the ‘parent company’, which in turn will manage its ‘subsidiaries’.
Ella Lei Cheng I, directly elected lawmaker who chairs the First Standing Committee of the Legislative Assembly, said the committee is considering a government-led bill to regulate the operation and supervision of the city’s public enterprises. said. The bill aims to ensure that the decision-making process is always overseen by governments – governments own some or all of their shares – and also to ensure that public funds have a “reasonable It is also intended to ensure safe use.
Sonia Chan Hui Huang, Director of the Public Asset Supervision and Planning Office of the Macao Special Administrative Region (GPSAP) attended yesterday’s meeting.
The bill proposes to structure public enterprises into three types:
– wholly owned by the government
– Companies in which the government owns more than 50% but less than 100% of the shares
– Companies with less than 50% government-owned shares.
Some committee members expressed concern about how the bill would apply to companies with different percentages of government-owned shares, Ray said.
All public enterprises involve the use of public funds, Lei said, so government-owned enterprises are subject to varying levels of regulation, and even if the government-owned enterprises are relatively small, It quoted a government official who said the government would oversee the business. .
Lay pointed out that the Macau Productivity and Technology Transfer Center, the Macau Civil Engineering Research Institute, and the Macao Development and Quality Research Institute are administrative agencies of the government and are not covered by the bill and will continue to regulate the law. Association.
Lei also pointed out that in the future, publicly funded Macau companies located outside Macau should, as a matter of priority, follow the laws of the country or region where they are based.
According to GPSAP, Macau currently has 23 public enterprises, of which the government owns more than 50% of the shares in 16, Macau Post Daily reported.
