SMEs only to be supported through Credit Granting Scheme

2014-2-19

From：Macau Daily Times

Small and medium-sized Enterprises (SMEs) are not going to be benefiting from any specific mechanisms created to help cope with the escalating rise in property rental prices. Instead, these enterprises will benefit from the government’s Credit Granting Scheme. According to Radio Macau, lawmaker Chan Chak Mo, President of the 2nd Standing Committee, explained that legislators “did not discuss any plans concerning the increase in rent.” Whilst speaking at the conclusion of another committee meeting to debate amendments to the current law on the credit provided to SMEs, Chan Chak Mo added that “The increases on rents, salaries and raw materials are assessed in a wider way by the government when a warranty is granted.” The government is suggesting an increase from MOP600 million to MOP1 billion, which is the maximum amount of money available under two plans to grant credit to SMEs. The increase will allow a further 110 projects to benefit from the scheme’s credit, the Secretary for Economy and Finance, Mr Francis Tam, announced in January.  In the next Standing Committee (which will be the second), lawmakers will discuss the need to extend the scheme, which was implemented in 2013 and has so far supported 436 SMEs. Chan Chak Mo shared that the bill will be presented to the AL plenary next month.

Copyright@Macau Daily Times