IPIM: Over MOP42.2 million subsidies in Q1

Subsidies from the Macao Trade and Investment Promotion Institute (IPIM) for the first quarter of 2016 totalled more than MOP42.2 million (US$527,523), according to a dispatch in the Official Gazette, published yesterday. For the partial funding of the Dynamic Macau Business and Trade Fair in Jiangmen, Guangdong (amounting to 50 per cent of the funding of the whole event), the trade and investment institute dedicated 83.29 per cent of their first quarter subsidy total, amounting to MOP3.47 million, according to Business Daily calculations.
A further 13 per cent of the subsidies went to the Macao Convention and Exhibition Feature.
The remainder of the funding – MOP305,888 – went towards the participation of local companies in international commerce and trade fairs – comprising 7.24 per cent of the total awarded by IPIM in Q1.
The second largest subsidy for an event – some MOP114,000 – was attributed to 20 groups in amounts of MOP6,000 each for local companies’ participation in the 2015 Winter Food Shopping Expo, according to Business Daily calculations. The International Toy Game Exhibition 2015 received MOP72,000 divided into 12 subsidies of MOP6,000 each, while six companies received a total of MOP41,208 for participation in the 5th Asia Food Expo (Winter) & Home Delights Expo. Grémio dos Ourives de Macau received the biggest individual subsidy of the first quarter of MOP46,436 for participating in the 27th International Jewellery Tokyo (expo).