Gov’t to provide up to MOP20M for company upgrade, rental

Companies will be able to get up to MOP20 million in government subsidies to upgrade their equipment and offset their rental costs, a Chief Executive Dispatch yesterday stipulated.
The details announced are crucial in commencing the government’s company upgrade boost scheme.
The government will subsidize the interest on loans obtained for the purpose of upgrading corporate equipment. In another type of subsidy, it will subsidize the rental of a company. Both subsidies are set at 4% of the interest rate or the rental.
The scheme has two ceilings set at different levels concerning different types of subsidies. The interest subsidy has a ceiling of MOP600 million per year. At the same time, the ceiling for the rental subsidy is set at MOP200 million per year.
As for the maximum subsidy each successful subsidy applicant will be able to obtain, the government has set it to MOP10 million for each type of subsidy.
The scheme was established, as stated in the Executive Order 7/2021, to encourage companies to improve their competitiveness, so as to make progress in economic diversification and sustainable development. AL