The Macao Science and Technology Development Fund says it will disburse up to 1 million patacas (about US$125,150) to support joint research with Portugal’s Science and Technology Foundation, Ponto Final reports.

The Macao newspaper says the fund announced its intention at the presentation yesterday of its annual report.

The newspaper says the managers mean to make better use of present arrangements for cooperation, and to increase the financial support the fund gives.

The report says scientific and technological research projects to do with the Guangdong-Hong Kong-Macao Greater Bay Area will have access to up to 1.3 million patacas.

Developing scientific and technological prowess can be regarded as one way to diversify moderately the economy of Macao, Ponto Final quotes Macao Science and Technology Development Fund Administrative Committee President Chan Wan Hei as saying.