As part of Melco’s longstanding commitment to supporting SMEs for the sustainable and diversified development of Macau, the company has launched a new fast track payment initiative – Express Payment Scheme – whereby all eligible local SME vendors will be paid within 14 days of receipt of deliverables. The aim of the scheme is to provide full support to ease local SME cash flow pressures and to work closely with local SMEs in overcoming the challenges and difficulties of these unprecedented times.
Mr. Clarence Chung, Board Director of Melco Resorts & Entertainment, said, “We hear, understand and appreciate the present needs of local SME vendors and pledge to stand by their side as we weather through these never-before-encountered times of challenge. We are confident Melco’s fast track payment initiative, together with the programs and activities available at the recently relaunched Melco SME Academy, will help alleviate liquidity pressures of our local SME partners and better prepare SMEs with targeted, technical knowledge to help strengthen them to overcome the challenges of today for a better tomorrow.”
Established in 2017, the Melco SME Academy aims to enhance local SME prosperity and help local businesses succeed. It is designed to help SMEs become better equipped in the face of challenge and seize opportunities through an array of training activities and business development initiatives, and forms part of the Company’s longstanding commitment to SMEs for the city’s sustainable development. Late last month, a ceremony to mark the relaunch of the Melco SME Academy took place at Studio City with representatives from the Macao Economic Bureau and Macao Chamber of Commerce in attendance.
The ceremony was followed by a Food Safety Training session attended by more than 20 local SME representatives. One participant Mr. Zhang Shubiao, Manager of local SME Kam Kei, said, “The current economic situation has made it quite tough for SME companies like our own to continue operating, so it’s heartening to see companies such as Melco step up to help support us by calling to see where help might be needed. The session was helpful to let us stay up to date with the latest industry-related information so that we can be ready to seize opportunities as soon as the economic situation bounces back.”
The Melco SME Academy will host more than 20 training sessions for local business owners in the second half of this year, with further workshop topics including Sustainability, IT skills, online procurement platform use and e-bidding to be covered.
Another of Melco’s supportive initiatives for SMEs is the ‘Knowing You, Knowing Us’ campaign which continues to serve as a communications platform between the company and local SMEs. Not only does the campaign help SMEs get to know Melco and its employees, as well as the company’s operational requirements and standards, but allows Melco to learn more about local suppliers, their businesses, services and offerings – supporting the advancement of business development opportunities.
Under the campaign, SMEs including members of the Macao Chamber of Commerce, Industrial Association of Macau and Macau Union Suppliers Association representing varying sectors take part in regular tours of Melco’s properties – guided through client-facing operations such as attractions, hotel rooms, F&B outlets, and employee-only Heart of House areas including the employee dining restaurant and Wardrobe Department. Procurement procedures and standards are shared with attendees, followed by business networking for participants to showcase their products and services to Melco.
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