Wynn Hosts 'Wynn Local SME Procurement Partnership Meeting 2018 – Business Matching Session for Small and Micro Enterprises, "Made in Macao" Enterprises, and Young Entrepreneurs'
Event focuses on three key areas: typhoon support, product quality certification, and sustainable development to foster SMEs in Macau
Macau, November 22, 2018 ─ Wynn Resorts (Macau) S.A. partnered with the Macao Chamber of Commerce and hosted the 'Wynn Local SME Procurement Partnership Program 2018 - Business Matching Session for Small and Micro Enterprises, "Made in Macao" Enterprises, and Young Entrepreneurs' today at 10am, at the Grand Ballroom of Wynn Macau. The event was well-received and attracted participation from 195 representatives from local SMEs. At the business matching session, representatives of the procurement department at Wynn met with all participating SMEs, enabling the two parties to introduce themselves and hold individual discussions.
In her speech, Ms. Linda Chen, Vice Chairman and Executive Director of Wynn Macau, Limited said, "Wynn has always actively prioritized procurement from local SMEs to support their business development. The amount of procurement purchases in the third quarter of 2018 increased 53% compared with the same period last year, which is an encouraging result." She further emphasized that, "Apart from looking for more quality local suppliers, we have also leveraged our increasingly close communications with local SMEs to share our international experience, and to help them improve their quality and competitiveness, capturing long term business opportunities in the Greater Bay Area and beyond."
In addition, in order to create a sustainable environment with local SMEs, Wynn plans to gradually replace plastic products used in its operations with more eco-friendly materials, and intends to spread the message of plastic reduction more broadly among the community. Therefore, Wynn will collaborate with the Macao Chamber of Commerce to provide SMEs with free eco-friendly drinking straws, with the aim of encouraging companies from all industries to build a green living environment together.
Ms. Linda Chen stated that Wynn strongly supports the Macau Product Quality Certification Scheme (MPQC), as the company sees it as a good opportunity to expand in the Greater Bay Area, while enhancing and transforming its business model. Leveraging the timely backdrop of the completion of the Hong Kong-Zhuhai-Macao Bridge, and acquiring certification through this scheme, can help local SMEs enter the Greater Bay Area first and subsequently leap into the international market. SMEs will be able to equip themselves and embrace challenges, in order to increase the confidence of local and international buyers in Macau's products and services.
Meanwhile, Helena Lei, Senior Manager of CPTTM, was invited to introduce the latest details on MPQC. At the event, Wynn announced that local companies that obtain product quality certification will be priority suppliers for Wynn's procurement. Wynn will also provide information and training for local SMEs as needed, with aims to promote and encourage SMEs to continuously improve their services and product quality, and to meet the new opportunities brought by the Greater Bay Area, as well as to create a more competitive business environment for local SMEs.
At the same time, due to Typhoon Hato having brought different levels of economic losses to Macau's community and enterprises last year, Wynn is cooperating with the Bank of China (Macau Branch) to implement the "Wynn Local SME Typhoon Hato Financial Support Program". SMEs eligible to apply for loan assistance from the Bank of China (Macau Branch) will be provided a 10% allowance for the loan balance as of October 31, 2018. Wynn hopes that the program can help to support businesses affected by the typhoon in improving their competitiveness as soon as possible. About 190 local SMEs have already applied for loans with the Bank of China (Macau Branch). The total subsidy amount is expected to reach approximately MOP16 million. Relevant SMEs can apply for the "Wynn Local SME Typhoon Hato Financial Support Program" at the corresponding sub-branch from November 22, 2018 to December 21, 2018. For registration enquiries, please contact Bank of China (Macau Branch) at 8889 5566.
Continuing the successful experience of last year's meeting, this year continued to leverage the Online Business Matching Service Platform of Macao Trade and Investment Promotion Institute (IPIM) to register all attendees at the business matching session. The event also drove an additional 100 new corporate users to the online platform, resulting in an increase of over 50% in the number of registered suppliers. Through the system, local SMEs can receive information and invitations from various organizers for business matching, partnership meetings and exhibitions. This not only elevates the electronic development of procurement collaboration but, more importantly, will help to create more business opportunities in the future. At the meeting, an information booth was set up to welcome SME representatives to participate in a survey on SME Sustainability Development and to enquire about the local SME eco-friendly initiative. The three major local banks, Bank of China (Macau Branch), Industrial and Commercial Bank of China (Macau) and Banco Nacional Ultramarino were also invited to attend the meeting to provide suitable business information for local SMEs as needed.
Wynn is always committed to prioritizing local procurement, and establishing close, long-term relationships with local SME to achieve mutually beneficial partnership. Since 2016, Wynn has organized a number of business matching sessions across different supplier categories, including food and beverage, hotel, facilities, and those dedicated to supporting Small and Micro Enterprises, "Made in Macao" Enterprises and Young Entrepreneurs. In the future, Wynn will continue to pave the way for long-term development with different industries by hosting more business matching sessions, together with seminars, workshops, and other potential events.
The event was graced by Mr. Tai Kin Ip, Director of Economic Services Bureau of Macau SAR; Mr. Agostino Vong, Member of Executive Committee of Investor Service Department of Macau Trade and Investment Promotion Institute; Dr. Shuen Ka Hung, Director-General of CPTTM; Mr. Chui Yuk Lum, Vice President of Board of Directors of Macao Chamber of Commerce; Mr. Carlos Lam Ka Vai, CEO of the Board of the Macao Young Entrepreneur Incubation Centre; Mr. Alan Wong, Vice President of the Board of Directors of the Industrial Association of Macau; Mr. Kevin Ho, President of the Board of Directors of the Macau Youth Entrepreneur Association; Mr. Raymond Vong, Chief Supervisor of the Industry and Commerce Association of Macau; Prof. Jacky Hong Fok Loi, Associate Professor in Management of Faculty of Business Administration of the University of Macau; Mr. Gary Lam lo Meng, Deputy General Manager of Macao Daily News; Ms. Linda Chen, Vice Chairman and Executive Director of Wynn Macau, Limited; Mr. Robert A. Gansmo, Senior Vice President and Chief Financial Officer of Wynn Resorts (Macau) S.A.; Mr. Patrick Crockett, Senior Vice President of Finance of Wynn Macau, and Ms. Kimberly Tan, Executive Director of Procurement of Wynn Macau and Wynn Palace.