MGM hosted a new round of SME Business Matching Sessions yesterday at MGM Macau in collaboration with Macao Chamber of Commerce (MCC), and other organizations such as Parafuturo de Macau (PFM Macau), Macao Young Entrepreneur Incubation Centre (MYEIC), Macau Federal Commercial Association of Convention & Exhibition Industry (MCACE) and Macau Union Suppliers Association (MUSA).
During the event, MGM signed a Memorandum of Understanding with PFM Macau on the launch of a young entrepreneur mentorship program, which was then followed by the signing of Sichuan Product Strategy Procurement Agreements with three local SMEs.
Participating vendors of the MGM SME Business Matching Session were mostly from design and advertising, facility management, food and beverage and information technology sectors.
Managers of over 20 departments of MGM met with the SMEs one-on-one.
Sanna Leong, Manager of Today MGM signed a Memorandum of Understanding with PFM Macau to launch the MGM X MYEIC Young Entrepreneur Mentorship Program, making MGM the first large-scale enterprise to conclude such an agreement with PFM Macau.
MGM will provide professional training to MYEIC members, who will be mentored by MGM’s management and professionals, imparting knowledge and advice about young entrepreneurship.
The program is an addition to the MYEIC ProQ Alliance’s Pitching & Business Matching Session, a program co-organized by MGM and MYEIC in May offering young entrepreneurs a one-on-one business matching session to explore opportunities to cooperate.
Jose Chui, CEO of PFM said, “PFM Macau is joining hands with MGM to forge a deeper partnership and promote cooperation in information exchange on procurement, business matching and professional training, with an effort to jointly create opportunities for young entrepreneurs.”
Chui said that MGM’s support made PFM recognize the importance of partners. This year, MYEIC has begun hosting MYEIC ProQ Alliance’s Pitching & Business Matching Session and PFM received strong support from MGM for the first event. Within seven months, MGM achieved a seven-figure sum purchasing PFM member’s projects, and injected a shot in the arm for their business development.
MGM also signed Sichuan Product Strategy Procurement Agreements with three local SMEs to combine efforts introducing specialty products from Sichuan to Macau.
These are the outcomes of MGM’s participation in the Sichuan inspection tour organized by MUSA for the city’s industrial and commercial sectors in October.
During the tour, MGM was enticed by Sichuan’s liquor and oil products and believed that the produce would help please taste buds of diners at the company’s restaurants.
Spotting an opportunity to work with SMEs, MGM decided to purchase the liquor and oil through members of MUSA including Vang Kei Hong, Seng Kei Hong and Yau Heng Frozen Meat and Food.
MGM SME Advisory Committee, the first of its kind in Macau’s business sector, was set up in 2015 with a vision of building a platform for SME development. During that year, MGM joined hands with MCC to organize the first business matching session.
At present, 80% of MGM’s total procurement spending goes to local Macau enterprises and over 25% goes to SMEs.
In the future, MGM plans to continue to support Macau’s young entrepreneurs including offering them training opportunities.
The initiatives are set to increase cooperation between MGM and SMEs.