Finance

Macao wants to diversify from gaming to tech and finance, but struggles with talent shortage


As labour laws tighten, non-resident work permits are becoming harder to obtain. Yet, locals are not keen on many of these jobs.

“The shortage of manpower is real. Some hotel rooms are left unoccupied because these jobs pay too little and Macao residents are not willing to take them,” said New Macau Gaming Staff Rights Association’s president Cloee Chao,

Ms Chao suggested raising the minimum wage in these jobs to attract locals. However, the local labour force is also shrinking, with younger residents looking at job opportunities abroad.

“Some saw opportunities in foreign countries and eventually migrated. The younger generations choose to study abroad and some are not coming back to work after graduation.” said Macao legislator Ron Lam.

TRAINING AND RESKILLING

The Labour Affairs Bureau and its partners have invited big tech names such as Tencent and Alibaba to their career fairs in hopes of attracting young residents to stay.

Industry players are also working on talent retention by encouraging training and reskilling.

“For example, in the exhibition industry, there are many backstage jobs such as lighting, but those require training,” said Ms Chao.

“With appropriate training, it is possible to switch to other professions, such as getting an insurance or real estate licence.”

Mr Lam said he believes Macao should develop a framework that sets a standard for career development and a benchmark for wages.

“If locals are required to be competitive and continue to study, the government should take the lead in building a qualification framework that is based on a tripartite agreement that brings together government, industry and labour,” he said.

He added that with such a qualification, it would be easier for residents to develop in different fields.



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