According to a new survey, retailers in Macao’s residential districts fared poorly over the Lunar New Year, while those in tourist areas saw increased sales.
Macao businesses
The opening of borders has reportedly unleashed the pent-up desire of Macao’s residents to enjoy all that Guangdong has to offer, creating headaches for local retailers and restaurateurs.
The consumer price index barely moved between March and April, with lower rents helping to offset any increases in the price of consumer goods.
Subsidies for R&D, rent, furnishing and more are available to companies setting up in Hengqin, authorities say.
MOP 100 for households, MOP 500 for businesses; subsidy runs till December, but can be used up till the end of June 2023.
Alternatives cover losses from MOP 100,000 up to MOP 300,000; premium subsidy of up to 35% also on offer.
First two events attracted more than 210,000 visitors combined; this year’s carnival includes karaoke contest, little kids’ cooking workshop and street dance competition.
Most used to work in hotels, restaurants or gaming industry; government seeks to encourage graduates to join internship scheme.
Government also plans to spend MOP 1.326 billion on subsidising business and residential water and electricity bills for a period of six months.
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