Construction and real estate

Construction and real estate industries were once an important part of Macao's economy. In recent years , however, these industries have experienced a decline from prosperity to recession , which has had a negative impact on the whole of the city's economy. In the future development of the real estate industry, Macao will strengthen its urban planning and administration and combine the real estate development with the overall construction plans of urban facilities, matching up the division of urban functions with social services facilities. Secondly, the property market needs to be further regulated in order effectively to suppress excessive speculative manipulation of property prices. Finally, planning permission will be better controlled, which should improve the extent of land development and utilization. At the same time, the land area will be expanded through land reclamation efforts and offshore isle development will also be expedited. The prosperity of Macao' s future economy requires a parallel development of the real estate industry. As long as development rules are respected, it is believed that the construction and real estate industries will, after a few years of adjustments, enter a new round of prosperous development.

Information technology

With the revolution of information technology and the global transition from an industrial society to an information society, industrialization of the information industry and 'informationization' of industry are the irresistible trends of the modern world. Macao is equipped with advanced facilities for international communications, and as early as 1991, Macao Telecom Company (Companhia de Telecomunicacoes de Macau S.A.R.L, CTM) adopted a digital control system. Macao now has access to over 100 countries and regions by direct dial and other dual-means of communication such as telegraph, facsimile and satellite television services. In effect, the information industry has already taken off and shown excellent development prospects.

Other industries

Commercial services, including warehousing, shipping, accounting, legal, commercial consulting, advertising and market research will all play increasingly important roles in Macao's economy.

For a considerable period of time, the export processing industry will remain an important part of Macao's economy. With agreements reached at the Uruguay Round regarding textiles and garments coming into effect and the gradual phasing out of the export quotas and other preferential treatments enjoyed by Macao, the labour- intensive industries will face stringent challenges. Macao's only choice is to guide and promote industrial transition by fostering the transformation of the existing industries. The future path to development for Macao's industries should be to enhance knowledge and technology for products in the export processing industry and the industries must move towards a high value-added, superior quality and well-established brand awareness, and must be highly responsive to market changes.