30% of MGM China’s total procurement spending goes to local SMEs

MGM China highlighted its support for local businesses at a joint SME business matching with the Macao Chamber of Commerce.

Macau.- MGM China held a joint SME business matching with the Macao Chamber of Commerce (MCC) yesterday (May 11) and highlighted that since 2016 it has added 481 SMEs as its suppliers. After the ceremony, MGM signed a purchase agreement of MOP1m with Fábrica de Farinha (Kam Kei) and a cooperation agreement with Fnetlink Technology Company Limited.

Since 2007, MGM has been working with Kum Kee and has helped the local SME to improve its production lines and food safety standards, resulting in the company being awarded ISO 22000 Food Safety Certification. 

MGM has also actively cooperated with the Macau Industry Association and CPTTM to encourage and assist Kam Kei to obtain the M-Mark Macau product quality certification in the past year.

Meanwhile, MGM China has signed its first partnership with Fnetlink, a local SME supported by the Macau Science and Technology Development Fund, to introduce SenseTime into Macau to provide intelligent management for public institutions and colleges.

The news comes a few months after the Statistics and Census Bureau (DSEC) reported a rise in the number of unemployed people in Macau. By the end of 2021, the Macau Special Administrative Region’s unemployment rate had reached 2.9 per cent, the highest level since 2009.

According to statistics from the DSEC, the unemployment rate for local residents was 3.9 per cent. Employment in retail and construction increased by 1,800 and 1,600 respectively, but employment in gaming and junkets decreased by 3,600.

According to the report, the total labour force in Macau stood at 389,000, and the labour force participation rate was 69 per cent. The International Monetary Fund (IMF) has recently forecasted that Macau’s gross domestic product (GDP) is unlikely to exceed pre-pandemic levels until 2025.