The Cultural Industries Fund (FIC) said on Wednesday that it has disbursed 502 million patacas – comprising 286 million patacas in subsidies and 216 million patacas in interest-free loans – for 256 cultural and creative industries projects since it started its financial support measures in 2014 until the end of last month.
The fund held a media gathering at a restaurant in Zape on Wednesday about its financial assistance since 2014 and its endeavours in supporting the cultural and creative industries’ development.
The government confirmed on Wednesday that Leong Heng Teng, who is also the spokesman for the government’s top advisory Executive Council, will leave the position of president of the Cultural Industries Fund today. The fund was founded in late 2013. Leong had headed it since its inception.
In an announcement published in the Official Gazette (BO) on Wednesday, Secretary for Social Affairs and Culture Alexis Tam Chon Weng praised Leong for his “professional leadership and excellent performance”. The policy secretary also praised Leong for his dedication to carrying out his duties and his contributions to the development of Macau’s cultural industry.
Wednesday’s media gathering was attended by Leong and Davina Chu Miu Lai, a member of the fund’s administrative committee.
Leong said that the fund had received 926 applications for subsidies and interest-free loans until the end of last month since it started to accept financial support applications in 2014, and following their assessments, the fund approved 256 projects among the 926 applications. Leong also said that the subsidies and interest-free loans of 502 million patacas for the 256 projects have generated investments of 2.067 billion patacas from the private sector.
According to Leong, an administrative unit under the fund has drafted reports for 136 projects about their implementation, adding that according to the reports, the projects supported by the fund that have already got off the ground involved investments of 650 million patacas, creating 1,687 jobs.
During Wednesday’s press briefing, Leong also said that his decision to resign from the fund’s presidency was not a sudden decision and that he starting toying with the idea of leaving the post two years ago.
Leong also said that the fund’s team was committed to carrying out their duties and was very capable of promoting the continued development of the city’s cultural and creative industries.
Leong noted that he worked for the Cultural Industries Fund for six years which he said was “not a short period”. Leong said he was lucky enough to have had the opportunity to participate in work related to Macau’s cultural and creative industries.
According to the Macau Post Daily, Leong said that the government’s policy to promote the development of the city’s cultural and creative industries “has motivated many young local people to realise their aspirations and dreams”.