GEG Proactively Supports Local SMEs’ Growth and Development
As one of Macau’s leading corporations, GEG is committed to contributing to the city’s economic diversification by providing unwavering support to nurture and develop local SMEs, Made-in-Macau brands and young entrepreneurs. Considering local SMEs as its key partners, GEG prioritizes them in business cooperation and was the first gaming operator to launch a SME partnering program in 2015 to assist local traditional F&B brands in their modernization and corporatization. Currently, over 90% of GEG’s total expenditure on goods and services come from Macau enterprises and SMEs. This year, GEG continued to help local SMEs flourish by launching various initiatives and other inspirational activities aimed at propelling the development of Macau’s different industries.
Platform for Unique Events
Recently, Broadway Food Street at Broadway Macau successfully concluded the Chestnut Festival, a long-standing and traditional Macanese festival which was inscribed on the Inventory of Intangible Cultural Heritage by the Cultural Affairs Bureau of the Macau SAR Government in 2020. The event’s organizer, Best Concepts Planning Limited – a relatively small event production enterprise with only five staff members, attributed the festival’s success to the tremendous support it had received from GEG. “We approached GEG in hopes of collaboration and were so delighted to have received their swift and active response. GEG not only sponsored a fabulous venue at Broadway Food Street, but also provided us with equipment and technical support. Broadway Food Street is the perfect venue with its reputation as one of Macau’s most popular gourmet destinations equipped with top-notch facilities. In addition, GEG also helped us with the event’s promotion which further increased the public’s awareness of the event, it also offered many professional and practical suggestions to ensure the event run smoothly,” said Mr. James Sun, a representative from Best Concepts.
The two-day Chestnut Festival was the biggest of its kind ever held in Macau, featuring traditional folk dances, Macanese music performances, food and beverages, culinary and handicraft workshops, etc. It was also a platform which GEG curated for the 25 local SMEs from the F&B, retail and cultural creative sectors to exhibit their unique cultural products and cultures. Along with the existing SMEs at Broadway Food Street, they created synergies in further promoting Macau’s charm as a UNESCO Creative City of Gastronomy.
Since 2015, GEG has been inviting local retail and F&B SMEs to operate in the Broadway Food Street, and to help them build their brands whilst offering essential professional advisory services and technical support. At present, close to 60% of GEG’s SME partners are renowned and traditional brands in Macau. Through its active support and contribution, GEG has created win-win outcomes for both itself and their SME partners, and received positive feedbacks from the society.
Supporting Initiative in Facilitating Start-Ups
GEG supports the Macau SAR Government’s directions to develop Macau as the service platform between China and Portuguese-speaking countries. Recently, GEG supported the inaugural “Innovation and Entrepreneurship Competition (Macau) for Technology Enterprises from Brazil and Portugal” organized by the Economic and Technological Development Bureau of the Macau SAR Government for the purpose of assisting young entrepreneurial winners on their endeavors as well as curating opportunities for them to integrate into the national development. The competition introduced 20 outstanding projects from the two Portuguese-speaking countries, which competed in various aspects such as big health, green environmental protection, and artificial intelligence. The competition also highlighted Macau’s position as an important pillar in facilitating the development of the Greater Bay Area into an international innovation and technology hub and the construction of a scientific and technological innovation corridor.
Riding Through Challenges of Pandemic
Amid the new normal of the pandemic, GEG has been supporting local SMEs to overcome difficulties through different initiatives, including a HK$100 million subscription of the SMEs themed COVID-19 Impact Alleviation Social Bonds issued by Bank of China Limited, Macau Branch. Recently, GEG cooperated with the Macao Chamber of Commerce (MCC) and the General Union of Neighborhood Associations of Macau (UGAMM) on donating over 400 boxes of sanitizers to SMEs in the downtown districts. The supplies were hand-delivered by GEG Volunteer Team members in hopes of spreading love and care to the community through concrete action. Mr. Chan Ka Leong, President of the Board of Directors of UGAMM, said, “GEG’s donation of anti-pandemic supplies has helped strengthen the community’s preventive work. It has also enhanced the overall prevention awareness among SMEs, and supported Macau’s economic recovery.” Last year, GEG and MCC also co-organized the “Healthy and Fun Carnival”, which provided a total of 70 booths for more than 100 different local SMEs to participate in the Carnival free of charge, with aims to boost domestic consumption and assist Macau with its steady economic recovery.
Match for the Future
Meanwhile, GEG continued to work closely with local SMEs in elevating their competitiveness through mutual development. Recently, GEG collaborated with MCC, the Macau Youth Entrepreneur Association, and the Macau Young Entrepreneur Incubation Centre on hosting the “GEG SME Series: Local SME Online Business Matching Session”. Such online session allowed local SMEs to explore business opportunities conveniently, and attracted the participation of over 60 SME representatives. During the online business matching sessions, local SMEs met with representatives from GEG’s Procurement Department to gain a more in-depth understanding of each other’s business and to explore potential partnership opportunities.
