Sands China Announces 'Entrepreneurship Recruitment Programme for Rua das Estalagens'
The company's latest community revitalisation initiative Encouraging entrepreneurs to start businesses to revive the neighbourhood's economy
(Macao, Apr 8, 2024) – Sands China Ltd. announced its new Community Revitalisation Series – Entrepreneurship Recruitment Programme for Rua das Estalagens Monday at a press conference at The Londoner® Macao.
This latest initiative exemplifies the company's business philosophy of growing with small and medium enterprises (SMEs), as it seeks to fund innovative entrepreneurial proposals from Macao residents interested in starting businesses on Rua das Estalagens – thereby reviving the economy in the neighbourhood and assisting in revitalising the historic street and unleashing its past vibrancy.
Sands China introduced its pioneering F.I.T. programme in 2017, which offers Financial Support, Invitational Matching, and Training and Development to local SME suppliers, targeted at three types of local businesses: local small, medium and micro suppliers; "Made in Macao" companies; and Macao young entrepreneurs. In 2023, Sands China established the Sands Resorts Incubation Centre under the umbrella of the F.I.T. programme, dedicated to discovering and supporting local innovative enterprises with development potential.
The Entrepreneurship Recruitment Programme for Rua das Estalagens, which will publicly recruit participants, is an extension of those two successful programmes.
In order to offer full support in promoting the Macao SAR government's revitalisation plan, Sands China will provide assistance and operational subsidies to entrepreneurs. During the application period, the company will launch a Rua das Estalagens Open Day and a series of trainings to help participants get equipped with skills for starting a business, such as enhancing their marketing writing and pitching, so that they can gain a thorough understanding of the development of the street. The company is also promoting the development of Macao's technological innovation, enhancing the city's cultural tourism offerings, and injecting vitality into the old districts.
Leong Wai Man, president of the Cultural Affairs Bureau of the Macao SAR Government, said in her speech: "The SAR government, in collaboration with Sands China, is working together to promote the revitalisation of Rua das Estalagens. Through the infusion of creativity, we aim to give the district a new essence and purpose, with the goal of creating a vibrant and sustainable urban public space that embodies the local cultural identity. The revitalisation project for Rua das Estalagens not only encompasses the integration of artistic elements to enhance the aesthetics of the shops and streets but also introduces the 'Entrepreneurship Recruitment Program for Rua das Estalagens.' This program encourages local businesses to unleash their creativity and establish innovative cultural and tourism projects, thereby stimulating the local economy. We sincerely hope that all sectors of society actively participate in this initiative, contributing their creative ideas to enhance the vibrancy of Rua das Estalagens. By joining forces, we can collectively revive the area's former prosperity."
Entrepreneurs are required to have a minimum of MOP 300,000 in capital to embark on the entrepreneurial journey based on their own ability and ideas, and establish their businesses on Rua das Estalagens. In order to encourage the sustainable development of the enterprises, Sands China will provide operational subsidies in phases to businesses with outstanding performance, of up to twice the initial capital investment, capped at MOP 1 million. The selection process considers factors such as innovation, feasibility, uniqueness, store attractiveness, and sustainable business models.
Dr. Wilfred Wong, executive vice chairman of Sands China Ltd., said: "Rua das Estalagens was once an exemplary and thriving commercial street in Macao with significant historical and cultural value. As we are always committed to contributing to Macao's community, Sands China is delighted to announce the launch of the 'Entrepreneurship Recruitment Programme for Rua das Estalagens,' aimed at encouraging local enterprises to establish their businesses on this street – in support of the Macao SAR government's policy guidelines. Through various measures, including operational subsidies, this initiative seeks to support aspiring entrepreneurs interested in settling in the area. The programme aims to introduce diverse business elements to the district in order to revive a bustling street atmosphere. The ultimate objective is to promote sustainable economic development within the community.
"Sands China is committed to providing substantial assistance to local entrepreneurs through this programme, empowering them to pursue their dreams. Furthermore, we will continue to support small and medium-sized enterprises within the revitalised areas, fostering mutual prosperity and symbiotic relationships with the community. We extend our sincere gratitude to all government departments, public utility corporations, and communities that are collaborating with us to create better business conditions for entrepreneurs, thereby maximising the impact of the programme."
Ho Pui Fan, vice-president of the board of directors of the Macao Chamber of Commerce, said: "As a united family within Macao's business community, the Macao Chamber of Commerce is committed to acting as an intermediary, supporting the Macao SAR government's strategy of achieving moderate economic diversification in the region. We actively aim to foster the growth of local enterprises, and by promoting the Entrepreneurship Recruitment Program for Rua das Estalagens to our local business community, we hope to provide a valuable opportunity for aspiring entrepreneurs to seize the moment and effectively utilise the revitalisation project of Rua das Estalagens as a platform to excel in their endeavours."
Interested parties must register before May 31, and can visit https://www.sandschina.com/the-company/sands-resorts-incubation-center.html for more details.
In addition to the recruitment programme itself, Sands China is launching a series of trainings and other events to help entrepreneurs achieve success. These include a free entrepreneurship information and technical exchange session for the public on April 17. A Sands China representative will introduce the programme in detail and representatives of government officials and public utilities will be invited to give brief introductions on the preparations and practical considerations for starting businesses – equipping participants with the necessary knowledge to prepare them for success.
A Rua das Estalagens Open Day on April 20 and 21 will allow entrepreneurs to inspect the shops available for rent in one-go while learning about the conditions of the street. Additionally, Sands China is also holding two free courses May 6 for interested members of the public – Business Plan Composition and Pitching Skills.
Monday's press conference also announced another new Sands China initiative, In Search of its Roots: Depicting Rua das Estalagens. It aims to gather the collective efforts of the community to rediscover the history of the street and present the stories of the area and its past shops through the visual interpretations and perceptions of local Macao artists. The goal is to raise public awareness and inject positive energy while promoting an understanding of Macao's development and sparking renewed interest in the street's history. This initiative also aims to evoke memories and a sense of community among Macao residents and neighbours, hence establishing the street as a vibrant destination for the younger generation.
The Entrepreneurship Recruitment Programme for Rua das Estalagens is organised by Sands China Ltd. and co-organised by the Macao Chamber of Commerce. The Office of the Secretary for Social Affairs and Culture of the Macao SAR is the programme's advisory body, with the following serving as supporting units: Cultural Affairs Bureau, Economic and Technological Development Bureau, Macao Government Tourism Office, Municipal Affairs Bureau, Cultural Development Fund, Macau Electricity Company (CEM), Macao Water Supply Company Limited, General Union of Neighbourhood Associations of Macau, Macau Artist Society, BOC Macau, Industrial and Commercial Bank of China (Macau), and Banco Nacional Ultramarino.
Guests of honour at Monday's press conference were: Ao Ieong U, secretary for Social Affairs and Culture of the Macao SAR; Leong Wai Man, president of the Cultural Affairs Bureau of the Macao SAR; Maria Helena de Senna Fernandes, director of the Macao Government Tourism Office; Sun Yaohua, director of the Economic Affairs Department of the Liaison Office of the Central People's Government in the Macao SAR; Leong Wai Man, president of the Cultural Affairs Bureau of the Macao SAR; Maria Helena de Senna Fernandes, director of the Macao Government Tourism Office; Lo Chi Kin, vice-chairman of the Administration Committee on Municipal Affairs of the Municipal Affairs Bureau; Cheong Kin Hong, president of the Administrative Committee of the Cultural Development Fund of the Macao SAR; Raphael Chan Chou Weng, head of the Technology Department of the Economic and Technological Development Bureau of the Macao SAR; Ho Pui Fan, vice-president of the Board of Directors of the Macao Chamber of Commerce; Chan Ka Leong, director general of the General Union of Neighbourhood Associations of Macau; Lok Hei, president of the Macau Artist Society; Benjamin Yue, principal advisor to the Executive Committee of Companhia de Electricidade de Macau - CEM, S.A.; Nacky Kuan Sio Peng, executive director of the Macao Water Supply Company Limited.; Chio Iu Wa, vice president of the Macau Association of Banks; Chan Weng Tat, deputy chief executive of BOC Macau; Huang Xianjun, deputy chief executive officer of ICBC Macau; Teren Cheong, general manager of Banco Nacional Ultramarino S.A.; Dr. Wong; Grant Chum, chief executive officer and executive director of Sands China Ltd.; and Dave Sun, executive vice president and chief financial officer of Sands China Ltd., and managing director of Venetian Macau Limited.
The Entrepreneurship Recruitment Programme for Rua das Estalagens is part of Sands China's revitalisation efforts in cooperation with the Macao SAR government, which include the revitalisation and optimisation plan of the areas around the Iec Long Firecracker Factory, the Taipa Houses, Pátio da Eterna Felicidade, and Rua das Estalagens. The company also plans to organise a diverse range of activities at Macao Cultural Centre Square, making it a new option for hosting outdoor events in Macao.
Since September 2023, when the Macao SAR government entrusted integrated resort operators with promoting community revitalisation, Sands China has launched various projects, including the first interactive A.I. photo booth in Macao, large-scale marching band performances, string ensemble concerts, large romantic selfie spots, and parent-child workshops.
Photo caption: Guests of honour attend a press conference Monday at The Londoner Macao to announce Sands China's new 'Community Revitalisation Series – Entrepreneurship Recruitment Programme for Rua das Estalagens.' The initiative will fund innovative entrepreneurial proposals for starting businesses on Rua das Estalagens, thereby reviving the economy in the neighbourhood.
Photo caption: Leong Wai Man, president of the Cultural Affairs Bureau of the Macao SAR Government, speaks at Monday's press conference at The Londoner Macao.
Photo caption: Dr. Wilfred Wong, executive vice chairman of Sands China Ltd., speaks at Monday's press conference at The Londoner Macao.
Photo caption: Ho Pui Fan, vice-president of the board of directors of the Macao Chamber of Commerce, speaks at Monday's press conference at The Londoner Macao.
Photo caption: Sands China's new 'Community Revitalisation Series – Entrepreneurship Recruitment Programme for Rua das Estalagens' exemplifies the company's business philosophy of growing with small and medium enterprises (SMEs), while seeking to revitalise the historic street and unleash its past vibrancy.