CONFIDENTIAL
DSR 11C
development.
19. As in Hong Kong, lack of industrial land hampers economic
The two islands, Taipa and Coloane are now being
opened up for development, and large-scale land reclamation
projects are under study. Lisbon has a scheme for turning
the territory into a major regional distribution centre for
Portuguese products.
20. The expansion of credit increased by 70% in 1981.
Between 1977 and 1981 the Government accumulated a surplus
revenue of 500 million patacas (£sterling
) and
public investment expenditure increased from 27 million
patacas in 1977 to 125 million in 1981. Macau's banking
system is soon to be restructed to allow more foreign financial
institutions to open in the territory. A number of interna-
tional banks are said to want
to set up in Macau.
CONFIDENTIAL