China's Macao Special Administrative Region (SAR) plans to take a series of measures to support the development of small and medium-sized enterprises (SMEs), which make up over 90 percent of the city's 17,000 businesses, according to a senior official.
Francis Tam Pak Yuen, secretary for economy and finance, told Tuesday's Macao Daily News that the SAR government would set aside 100 million patacas (US$12.5 million) in 2003 as special loans for local small stores and markets, adding the ‘no-interest’ money is expected to cover at least 1,000 businesses.
The government will also serve as a guarantor for the SMEs to obtain loans from 17 Macao-based banks, he said.
The Macao Business Promotion Centre will continue to provide market information and help the SMEs seek business opportunities, Tam said, adding that the enterprises are also encouraged to expand into overseas markets.
