Macau, China, 10 Dec – The Macau government said it will immediately launch 77 public tenders aimed at small- to medium-sized companies, an investment of around US$22 million (170 million patacas), for small and medium sized enterprises (SMEs) in the territory, news agency MacauNews reported Tuesday.
By the end of 2008, 24 of the 77 public tenders will be launched, while the remainder will launch by the middle of 2009.
These tenders are expected to create 5,500 jobs in the construction sector, said the government, which noted that it will give priority to hiring local workers.
A statement from the Macau Land, Public Works and Transport Bureau said that the measure is aimed at “minimising, as much as possible, the impact caused by the economic tsunami and ensure economic stability for the region”.
The tenders are for “carrying out refurbishing work on public roads that belong to the protected areas of World Heritage sites, and other works, such as renovating public buildings and pulling down buildings that are in ruins.”
Macau Chief Executive Edmund Ho Hau Wah announced in November that the government is going to invest US$1.27 billion (10.2 billion patacas) in the public works sector in order to stimulate economic growth and to help face potential difficulties going forward for the region.
Speaking before the Macau Legislative Assembly presenting the Government Lines of Action for 2009, Ho said that it plans to increase funding for small and medium-sized businesses (SMEs) by injecting 1.5 billion patacas (US$ 187 million) into the Industrial and Commercial Development Fund.
The Chief Executive also announced that the government will present a proposal to the Legislative Assembly to increase the maximum limit of bank guarantees for small and medium-sized companies, from 300 million patacas to 3.5 billion patacas. (macauhub)