Industrial and Commercial Fund disburses MOP42.3 mln

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The city’s Industrial and Commercial Fund disbursed total subsidies of MOP42.3 million (US$5.3 million) to over a thousand individuals and institutions in the fourth quarter of 2016, according to the latest data released in the Official Gazette.
The largest beneficiary was Transferência Electrónica de Dados – Macau EDI VAN, S.A. – a government-owned company which received MOP4.2 million in financial support.
The Young Entrepreneurs Association of Macau, meanwhile, collected MOP2.58 million in subsidies for expenses on advertising and promotion plans for a service platform consecrated for small and medium enterprises (SME).
Other big beneficiaries in the final quarter of 2016 include the Organization of the World Union of Chinese Entrepreneurs, which received a MOP2 million grant for their organization of the 13th Conference of Chinese Entrepreneurs in the World.
Meanwhile, the Association of Retailers and Tourism Services of Macau picked up MOP1.52 million for the expenses of the organization of Macau Shopping Festival 2016.