The Commerce and Investment Promotion Institute (IPIM) has announced major refinements to its funding programs, emphasizing digitalization, simpler incentives, and stronger international cooperation for the MICE industry.
The revised programs, the “Conference and Exhibition Stimulation Programme” and the “Financial Support Programme for Participation in Exhibitions and Trade Fairs,” are set to take effect on September 22.
IPIM director Elaine Wong, speaking to the media and stakeholders during a briefing session, said, “The MICE industry is one of the key industries for the Macau SAR government’s strategy of appropriate economic diversification.”
She added, “The sector is scheduled for a total of 980 events in 2025, 90% of which are already market-driven.”
The reforms are built on a “performance-based cumulative tiered” model, aiming to make applications more convenient and to better support internationally recognized events that align with Macau’s ‘1+4’ economic diversification strategy.
A key refinement for event organizers includes moving the application process online, allowing organizers to submit all documents through an official platform, making it more efficient and convenient. In-person submissions will remain an option for those who prefer it.
For a simpler funding formula, the calculation for the “Conference & Exhibition Support Program” has been redesigned, with a base amount of MOP400 granted for each non-local participant.
In addition, a bonus of up to 70% can be earned for events focusing on key industries like tech or big health, for those with international organizers, or for events organized by local associations.
A significant new incentive is the introduction of a fixed support bonus of MOP50,000 to MOP500,000 for events that adopt the ‘One Event, Two Venues’ model in collaboration with the Guangdong-Macao Intensive Cooperation Zone in Hengqin.
The maximum subsidy cap remains at MOP3 million per event, with pre-event funding available for up to 50% of the estimated total upon justification.
For key businesses participating in exhibitions, the biggest change is a relaxed application deadline. Companies can now apply for financial incentives up to 30 days after returning from an exhibition, a significant shift from the previous requirement to apply before the event begins.
The application process has also been simplified, requiring only core documents like booth contracts, while IPIM will obtain other necessary data directly from government departments.
The annual cap stays at six applications per entity, with a maximum subsidy of MOP60,000 for trade fairs and a 10% bonus available for exhibitions held in the Greater Bay Area.
Alongside easier access, IPIM has strengthened accountability measures. Organizers must retain financial documents for audit purposes for a specified period and report any significant changes to their event plans in advance.
Entities receiving over MOP1 million in subsidies within a six-month period may be subject to an additional independent audit.
In her closing remarks, Wong addressed the digital reforms, noting, “This revision is a significant reform. It allows you to plan and report based on your actual project execution.”
She expressed hope that the industry would widely utilize the new system to work together toward the high-quality and sustainable development of Macau’s MICE industry.
Times Reporter
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