Government of Macau continues to support SMEs affected by typhoon Hato

20 September 2017

Short-term, medium-term and long-term support for small and medium-sized enterprises affected by typhoon Hato in Macau continues in different phases, said the Secretary for Economy and Finance Leong Vai Tac in Macau on Tuesday.

The secretary, who spoke at the inauguration ceremony of the Chairman of the Monetary Authority of Macau Chan Sau San and the coordinator of the Financial Information Office, Chu Un I, also said that short-term support had received 13,000applications for loans of 50,000 patacas and 6,000 applications for interest-free loans in the maximum amount of 600,000 patacas, and a total of 5,600 cheques had already been written.

Leong Vai Tac said the government has been working closely with the Banking Association to speed up the process of assessing interest-free loan applications and said that the Monetary Authority of Macau has also been monitoring post-disaster compensation, by insurance companies, so that people can be compensated as soon as possible.

In the medium term, the secretary said the government hopes to ensure that tourists, particularly through the organisation of conventions and exhibitions, visit affected areas and increase consumption in shops.

In terms of long-term work, Leong Vai Tac said that the government intends to support older establishments by restructuring brands and developing the electronic payment system in order to increase the quality and variety of products and services to meet market requirements and new patterns of consumption. (macauhub)