Wynn Local SME Procurement Partnership Meeting 2019
Drives Greater Cooperation
Local enterprises account for nearly 80% of Wynn's total purchases in the first quarter
Macau, May 24, 2019 – Wynn Resorts (Macau) S.A. partnered with the Macao Chamber of Commerce to host the "Wynn Local SME Procurement Partnership Meeting 2019 – Business Matching Session for Micro Enterprises, "Made in Macao" Enterprises, and Young Entrepreneurs" today at 10am in the Grand Ballroom of Wynn Macau. The event was well-received and attracted participation from more than 200 local SME representatives. At the business matching session, Wynn arranged for representatives from its procurement department to meet with all of the participating SMEs, ensuring more effective business partnerships through mutual communication and putting into action the concept of "engaging local SMEs as growth partners".
Wynn is committed to prioritizing local procurement, establishing close and long-term relationships with local SMEs. These efforts effectively support the ongoing social and economic development of Macau. Wynn has organized a number of local SME procurement partnership meetings since 2016, with the total number of attendees amounting to over 1,100. In the first quarter of 2019, local enterprises accounted for 76% of Wynn's total procurement spending. In addition, 70% of Wynn's total spending with local SMEs was with the three key categories – Micro Enterprises, "Made in Macao" Enterprises and Young Entrepreneurs.
In her speech, Ms. Linda Chen, Vice Chairman and Executive Director of Wynn Macau, Limited said, "The amount of procurement purchases from the three key types of enterprises in the first quarter of 2019 increased 38% compared with the same period last year. This reflects that the quality of products and services provided by local enterprises has been growing with us. We believe this will help to enhance their competitiveness and enable them to explore more business opportunities in the Greater Bay Area." She added, "This vital event not only provided a platform for local SMEs to display their products and services, but also enabled Wynn's team members to better understand each of the local enterprises and interact with SME representatives to drive greater collaboration."
In addition, Wynn also joined hands with the Macau Productivity and Technology Transfer Center (CPTTM) to introduce certification schemes that are suitable for SMEs in order to help them to provide better services. Wynn not only prioritizes procurement from local companies that have obtained product quality certification, but also provides the necessary assistance and support for local applicants, thereby helping "Made in Macao" brands to acquire wider recognition.
Due to the typhoon that brought varying levels of economic losses to the community and local enterprises last year, Wynn launched the "Wynn Local SME Typhoon Hato Financial Support Program" in cooperation with Bank of China (Macau Branch). The subsidy of more than MOP 15 million ultimately supported 168 local SMEs to help them through difficult times, producing fruitful results. In the future, Wynn will continue to support SMEs through various channels, including continuing to organize procurement partnership meetings, seminars, workshops, as well as training courses to further enhance the enterprises' competitiveness, paving the way for their long-term development with an open and innovative mind.
In order to carry out its cooperation plans with SMEs more effectively, Wynn earlier commissioned an independent consulting company to conduct a survey analyzing the current situation and challenges faced by local SMEs, to understand their operational difficulties and needs. Following this, Wynn plans to build a social media platform to encourage and support enterprises by using the free platform to distribute business information and promote marketing activities, so that local enterprises can share resources and information, and so thrive together.
The event was graced by Mr. Xu Jing, Deputy Director of the Economic Affairs Department of the Central Government Liaison Office in Macau SAR; Mr. Anton Tai Kin Ip, Director of Economic Services Bureau of Macau SAR; Mr. Choi Tat Ming, Vice President of Board of Directors of Macao Chamber of Commerce; Ms. Sanna Leong, Manager of Business Development Services Division of the Macau Trade and Investment Promotion Institute (IPIM); Ms. Helena Lei, Senior Manager of the Macau Productivity and Technology Transfer Center (CPTTM); Mr. Carlos Lam Ka Vai, CEO of Macao Young Entrepreneur Incubation Centre; Mr. Alan Wong, Vice President of the Board of Directors of the Industrial Association of Macau; Mr. Andy Chui Sai Kin, Supervisory Council Chairman of Macau Youth Entrepreneur Association; Mr. Kevin Ho, President of The Industry and Commerce Association of Macau; Mr. Lam Lo Meng, Deputy General Manager of Macau Daily News; Ms. Linda Chen, Vice Chairman of the Board 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; Ms. Katharine Liu, Senior Vice President of Communications of Wynn Macau and Wynn Palace, and Ms. Kimberly Tan, Executive Director of Procurement of Wynn Macau and Wynn Palace.