SMEs must prepare for international competition: Wong

15 November 2018

“Competition from all over the world is going to exist forever … we cannot confine ourselves or limit our horizon to the Macau environment,” said Wilfred Wong, President and COO of Sands China, during a panel at MGS titled “How can IRs promote Macau economic development?”

Dr Wong said that, despite local companies forming a vital part of the procurement fabric of Sands’ Macau properties, the company encourages them to improve their performance in order to be fully prepared to compete with international competition.

The panel also featured Chan Tse Wai, Vice President of the Macau Economic Bureau, who outlined the SAR’s official diversification policy. Ms Chan said that the government is making efforts to develop the MICE (Meetings, Incentives, Conferences and Exhibitions) industry as well as to improve the integration of the local community into Macau’s IR industry while fostering local SMEs.

The other member of the panel, Hubert Wang, SVP of Finance and CFP at MGM China, highlighted how the company is focusing on promoting local artists.