Forum of young entrepreneurs and innovation exchange centre mark the start of MIF 2017

Around 400 people took part on Wednesday in Macau in the beginning of the Young Entrepreneurs Forum, which was also marked by the launch of the Youth Innovation and Entrepreneurship Centre of China and the Portuguese Speaking Countries.

At the time the signing of a protocol to create an export credit agency to support companies that wish to do business in Portuguese-speaking countries was also announced.

The Secretary of State for Internationalisation of Portugal, Eurico Brilhante Dias, on Thursday announced the signing of a protocol between credit insurance company Cosec and the Monetary Authority of Macau to create an export credit agency (ECA).

“The aim is for it to be a platform that Portuguese-speaking countries can use to guarantee their export credits, or even the collateral costs for some operations. I am particularly talking about civil construction, public works, and services in the area of metal mechanics,” Dias said.

Cosec, an entity authorised by the Portuguese State to provide insurance and financing for export operations, will provide technical assistance for creation of an ECA, with headquarters in Macau, that will provide export insurance for Portuguese-speaking countries.

“When exporting to high political risk countries, the risk of not being paid leads to a state guarantee being significant. Surety insurance is also important in order to win international public tenders, because most of the time it is necessary to provide guarantees to be able to perform works and services,” said the Secretary of State.

The Forum also served to launch of the Youth Innovation and Entrepreneurship Centre of China and the Portuguese Speaking Countries, which was established by the Macau government and will operate in the same space as the Business Incubation Centre for Young People of Macau, scheduled to open in December.

This project is the result of a cooperation agreement between the Macau Economic Services and government company Parafuturo, which will be in charge of the management of the centre. (macauhub)