MGM Collaborates with MCC to Launch a New Round of SME Business Matching Session
Signing MOU with PFM Macau to nurture young entrepreneurs & Procuring Sichuan Products through Local SMEs
Nov 14, 2019
MGM staged a new round of SME Business Matching Session, during which the Company signed MOU with PFM Macau on the launch of a young entrepreneur mentorship program, followed by procurement agreements with three local SMEs.
MGM hosted SME Business Matching Session today at MGM MACAU in collaboration with Macao Chamber of Commerce (MCC), 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). The event was also supported by Economic Bureau (DSE) and Macao Trade and Investment Promotion Institute (IPIM), drawing nearly 200 SMEs to participate. 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 Sichuan Product Strategy Procurement Agreements signed with three local SMEs. The initiatives reaffirmed MGM’s commitment to continuously procure from SMEs and embodied its dedication to assisting Micro SMEs, Made in Macau and Young Entrepreneurs.
Participating vendors of MGM SME Business Matching Session were mostly from design & advertising, facility management, food & beverage and information technology sectors. Management members of over 20 departments of MGM met with the SMEs one-on-one, in order to foster mutual communication. Representatives from the event’s co-organizers and supporting units, including Tai Kin Ip, Director of DSE; Zuo Xianghua, Director of Economic Affairs Department of the Liaison Office of the Central People’s Government in the Macao SAR; Anthony Leong, Deputy Director of the Gaming Inspection and Coordination Bureau (DICJ); Antonio Chui and Choi Tat Meng, Vice Presidents of Board of Directors of MCC; Jose Chui, CEO of PFM Macau; Carlos Lam, CEO of MYEIC; Osborn Lo, President of MCACE; Sunny Ip, President of MUSA; Shuen Ka Hung, Director General of Macau Productivity and Technology Transfer Center (CPTTM); Sanna Leong, Manager of Business Development Services Division of IPIM; Grant Bowie, Chief Executive Officer and Executive Director of MGM China Holdings Limited; and Kenneth Feng, President, Chief Strategic Officer and Director of MGM China Holdings Limited, were invited to join a site visit.
Today MGM signed a Memorandum of Understanding with PFM Macau for a concerted effort to launch the MGM X MYEIC Young Entrepreneur Mentorship Program, making MGM the first large-scale enterprise to conclude such 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 youth 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 cooperation opportunities.
Jose Chui said, “PFM Macau is joining hands with MGM to forge a deeper partnership and promote cooperation in procurement information exchange, business matching and professional training, with an effort to jointly create opportunities for young entrepreneurs. MGM’s support makes us feel the importance of partners. This year, MYEIC has begun hosting MYEIC ProQ Alliance’s Pitching & Business Matching Session and we received strong support from MGM for the first event. Within only seven months, MGM achieved seven figures on the sum of purchase on our member’s projects and injected a shot in the arm for their business development.”
Grant Bowie said, “MGM’s cooperation with SMEs has always been pragmatic, with the aim of helping them to achieve sustainable development. By broadening their skill sets and enhancing their professionalism and adaptability, we hope we can strengthen their competitiveness so that they can excel in the Greater Bay Area. With our future determined by the youth, we place great emphasis on our collaboration with PFM on nurturing and supporting young entrepreneurs, which will help them thrive and shine.”
MGM also signed Sichuan Product Strategy Procurement Agreements with three local SMEs for making a combined effort to introduce Sichuan specialty products to Macau. These are the positive 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 products through members of MUSA including Vang Kei Hong, Seng Kei Hong and Yau Heng Frozen Meat & 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 the year, MGM joined hands with MCC to organize the first business matching session. At present, over 25% of the MGM’s total procurement spending goes to local SMEs and 80% of the total procurement spending goes to local Macau enterprises. In the future, MGM will continue to support Macau’s young entrepreneurs, including offering them training opportunities as an avenue to understand the operation and procurement of large enterprises. The initiatives are set to increase the possibility of cooperation between MGM and SMEs. MGM will also proactively participate in activities of business associations, through which the Company can introduce quality mainland products to Macau and pave the way for the city to market the products to other areas as a way to support local SMEs.
MGM is an abbreviation for MGM China Holdings Limited (HKEx: 2282) and is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions/subconcessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and MGM COTAI, a contemporary luxury integrated resort in Cotai, which opened in early 2018 and more than doubles our presence in Macau.
MGM MACAU is a Forbes Five-Star luxury integrated resort inspired by the arts with every element of the resort infused with creativity and style. MGM MACAU has approximately 600 guest rooms and suites and boasts a number of distinguishing features, including the architecturally stunning European-inspired Grande Praça, housed under a soaring glass ceiling. MGM MACAU’s world class facilities include the MGM Art Space, dedicating over 5,000 square feet to display authentic works of art, conference and event facilities, spa, and seven signature restaurants and bars to fulfill any gastronomic craving. Our property is conveniently located on the Macau Peninsula and is directly connected to the luxury retail shopping complex, One Central.
MGM COTAI is the latest integrated resort of MGM in China. Designed as the “jewelry box” of Cotai, it offers approximately 1,400 hotel rooms and suites, Asia’s first dynamic theater, meeting space, high end spa, retail offerings and food and beverage outlets as well as the first international Mansion at MGM for the ultimate luxury experience. The Spectacle at MGM COTAI becomes the record holder of the largest free-span gridshell glazed roof (self-supporting) on January 19, 2019, making it the first architectural and structural GUINNESS WORLD RECORDS™ title for Macau, China. MGM COTAI is being developed to drive greater product diversification and bring more advanced and innovative forms of entertainment to Macau as it grows as a global tourist destination. MGM COTAI is the largest property and the first mega-size complex project in Macau to achieve the China Green Building Design Label Three-Star Certification.
MGM China Holdings Limited is majority owned by MGM Resorts International (NYSE: MGM), one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage.
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