Macao to Launch Sci-&-tech Fund

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Last updated at: (Beijing Time) Sunday, September 22, 2002

Macao to Launch Sci-&-tech Fund

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The Macao Special Administrative Region (SAR) government is to set up a science and technology fund to assist the development of local enterprises and research projects, the Science and Technology Council announced Sunday in Macao.

The Science and Technology Fund, scheduled to involve 200 million patacas (25 million US dollars) in maximum, will provide aid for research programs in Macao-based universities and colleges,environmental protection, Chinese medicine subjects and tourism and gaming industries.

An ambitious goal for the fund is to push forward the development of science and technology in Macao and sharpen the SAR's overall competitive edge, the council said.

Money for the fund will be collected from the SAR government and a few other funds. The Science and Technology Council, which is headed by Chief Executive Edmund Ho Hau Wah, has set up a special task force to negotiate rules and coverage of the fund.

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