Macau Productivity and Technology Transfer Center is the largest beneficiary of Industrial and Commercial Development Fund in 2021

The public capital organization Macau Productivity and Technology Transfer Center (CPTTM) was the main beneficiary of financial support provided by the Industrial and Commercial Development Fund in 2021, receiving a total of MOP 40.4 million ($4.9 million).

CPTTM is a non-profit organization jointly established by the Macao government in 1996 as an organization focused on improving local human resources through vocational training courses, professional examinations, management consulting services/ technical, as well as activities such as seminars, workshops, exhibitions. , skills competitions and study missions.

The organization has been headed by former Labor Affairs Bureau director Shuen Ka Hung since 2012, whose term was recently extended until March 31, 2022. Businessman Eric Yeung Tsun Man is also chairman. of the organization’s board of directors.

At the same time, established in 1979, the FDIC aims to support the economic development of Macau by providing capital for projects, with support for industrial and commercial enterprises, as well as small and medium-sized enterprises.

Most of the financial aid received by the CPTTM in 2021 was intended to cover the costs of shipping products overseas for testing and analysis, as well as two support programs helping SMEs to install freight elevators, flood protection barriers and water pumps, according to information published in the Official Gazette.

However, in the last quarter of the year, the organization received MOP 22 million from the fund, an amount described as being used for “financial support”.

The second entity to receive the largest amount from the FDIC in 2021 was the public incubator Parafuturo of Macau Investment and Development Limited, which in the last quarter of the year received MOP 8 million to cover the costs of its youth incubation center.

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