In order to promote the development of Small and Medium-sized Enterprise(SMEs), the 2007 Policy Addresof the Macao Special Administrative Region, which waannounced on 16 November, laid out a serieof new measureincluding the establishment of a SMEService Centre, aimed at further enhancing the relevant services. With respect to the development of SMEs, Macao Trade and Investment Promotion Institute (IPIM), Macao's official trade and investment promotion department, idedicated to serve SMEby providing an Investor One Stop Service, economic promotional activities, businesmatching, trade information, Macao BusinesSupport Centre, among otherto assist SMEto seize businesopportunities.
NEW MEASURETO PROMOTE ENTERPRISEDEVELOPMENT
According to the 2007 Policy Address, the SAR Government will establish a SMEService Centre within the existing administrative structure, providing customer-orientated services. In addition, assisting SMEand co-ordinate the development of the economy ione of the main pointof the 2007 Economy and Finance policy blueprint, measurefor relieving some of the difficultiethat SMEhave with financing, supporting their assimilation of technology, changing their style of management and operational mechanismwill be included in the assistance provided.
Furthermore, Macao will further strengthen the co-operation with the Pan Pearl River Delta Region (PPRD) especially the neighbouring Guangdong and Fujian provinces, and deepen the extensive economic and trade co-operation with Portuguese Speaking Countries. All thiwill facilitate the establishment of partnershipbetween Macao enterpriseand those from Mainland China and other regions. New businesopportunitiemay also be derived from the diversified development of the Macao economy. For example, the completion of the-state-of-the-art convention and exhibition facilitiein Macao in 2007, will not only be beneficial to the local convention and exhibition and related industries, but also stimulate the co-operation and exchangefor SMEfrom Macao and around the world to join handto explore new businesand markets. In order to take advantage of China's 11th Five-Year Plan and enhance the diversification of Macao economy, the city will initiate a serieof programmes, including guidance and encouragement to Mainland enterpriseespecially SMEto set up their businesin Macao, utilising Macao aa platform for Go Global-Ushering In Investment. Macao SMEmay co-operate with their Mainland counterpartby partnership, intermediary servicewhile the Mainland SMEwill be able to implement overseabusinesstrategieusing Macao aa platform. The Government will extend the tax-reduction and tax-waiver measureto next year, businesregistration tax, signboard tax and some other taxewill also continue to be waived. Macao will also complete the negotiation of theArrangement for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxeon Income with other countrieand especially with Portuguese Speaking Countries. The above mentioned measurewill beneficial to the operation and overseabusinesdevelopment of local SMEs.
Financing ia common problem faced by SMEs, the SAR Government launched three programmenamely the SME support scheme, SME credit guarantee scheme and SME special credit guarantee scheme in 2003, providing interest-free loanand credit guaranteeto relieve the funding burdenthat SMEall suffer from. At the end of October, the Government revised the SME support scheme, the upper limit of interest-free loanhabeen increased from MOP200,000 to MOP300,000, the longest repayment period extended from 6 yearto 8 years, the required time of operation for applicantwadecreased from three yearto two years. Businespromotion and activities, awell athe enhancement of businescapabilitieor competitiveneshave been added to the original six useof loans, thumore SMEwill be benefit.
IPIM ALWAYAT YOUR SERVICE
SMEare alwaythe main focuof IPIM. The Institute idedicated to assist SME's with a serieof serviceand facilities, including the Investor One Stop Service, economic promotional activities, businesmatching, trade information and Macao BusinesSupport Centre among other services. In recent years, the function of Macao BusinesSupport Centre assistance to SME?habeen further enhanced, the office space ilarger, the number of facilitiehabeen increased and the launch of Mainland China BusinesAdvisory Service awell athe IPIM Information Service counter are all aimed at facilitating co-operation and exchange between Macao SME and their overseacounterparts, to join forceto promote mutual prosperity.