The Macau government will review the legal diploma that requires at least two years of registration in the Financial Services Bureau (DSF) for small and medium-sized enterprises to apply for existing support plans, according to an official announcement.
The COVID-19 outbreak in China and its consequences in Macau has led the government of the territory to launch two provisional plans to support SMEs, specifically a special programme for companies in operation for less than two years and subsidised interest rates on loans.
The decision to amend the legal diploma which requires two years of enrolment with the DSF, according to a statement from the Macau Economic Bureau (DSE), is designed to relieve the financial pressure felt by SMEs “as soon as possible”.
The statement also said the Macau government would draw up an administrative regulation for the second support plan, intended to provide an interest subsidy to SMEs that have secured bank loans, up to a maximum of MOP 2 million (US$250,000), to a maximum annual limit of 4 percent, for a maximum period of three years.
The DSE said SMEs will have the right to apply for the provisional plans and others that may be set up, even if they are already benefiting from the “Plan for special support to SMEs affected by typhoon Hato”.