US Consul General Stresses Importance of Macau To US Interests
21 Setembro 2010 - 8:26AM
Dow Jones News
The top U.S. diplomat in Hong Kong and Macau on Tuesday stressed
the importance of Macau to the U.S. government given the billions
of dollars U.S. companies have invested in the gambling haven and
concerns about law-enforcement issues in the Chinese territory.
"For an American representative here, the fact that we have six
to eight billion (U.S. dollars) of direct investment in the Macau
gaming industry alone warrants my attention," Consul General
Stephen Young told reporters in Hong Kong.
"But I think there are a lot of other issues involved in that
including some transnational law-enforcement issues...that make
Macau actually a pretty important part of our portfolio," he
said.
He cited the prevention of money laundering, drug smuggling and
human trafficking as "important values" for the U.S.
Young, who assumed his post in March, said he has already met
Macau's chief executive, Fernando Chui, three times and he also had
meetings with management at Macau's three U.S.-based casino
operators, Sands China Ltd. (1928.HK), Wynn Macau (1128.HK) and MGM
Resorts International (MGM).
Young said he will meet Sands China's new management team on
Wednesday. Ed Tracy, who was recently appointed Sands China's chief
operating officer in a management shake-up following the dismissal
of former Chief Executive Steve Jacobs, didn't provide details on
the likely topics of discussion at the meeting when reached for
comment.
Young said he expects the issue of Macau's labor policy to come
up but that his talks with the Macau government have left him
optimistic about a resolution.
"I've been assured by the chief executive and others that the
necessary workers that these guys need to do their jobs to both
build and run casinos will be available and it's an ongoing
dialogue that they and I and the government of Macau continue to
pursue," he said.
Sands China has said the shortage of workers in the territory
will delay the completion of its more than US$4 billion expansion
project there. It now targets an opening date in the fourth quarter
of 2011 versus an earlier goal to open in the third quarter next
year.
Macau has a small local work force and has imposed tight
restrictions on the importation of foreign labor.
-By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002;
kathryn.okeeffe@dowjones.com
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