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Macau extends subsidy scheme
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Prudence Lui, Hong Kong (2010-01-08)
MACAU has budgeted an extra 126.4 million patacas (US$15.8 million) to extend by another three months a subsidy scheme launched last year to stimulate the leisure, MICE and aviation industries. The scheme will now run until the end of March.
Of the additional amount, nearly 22 million patacas will be awarded for MICE relief. The lion's share of about 73 million patacas will go towards boosting leisure tourism.
The MICE component of the relief scheme has been credited for supporting 98 events with a total budget of MOP$32.6 million. On top of that, the scheme also received 22 applications for events to be held between 2010 and 2012, involving a budget of 10.4 million patacas.
C&E Conference and Exhibition Management general manager Clemson Lo believes the arrival of a new chief executive for Macau, who took office last year-end, may be responsible for the scheme's extension.
"So far, they haven't had time to approve a new plan so the extension of the old plan will buy some time. I think a new and better plan will come out after March. This initiative helped a couple of projects and I'm rushing for another one to catch the March deadline."
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