Premier Cho Jung-tai said July 24 that the government is sparing no effort in improving Taiwan’s investment environment and spurring the development of health-related industries.
The premier made the remarks during the opening ceremony of the Bio Asia-Taiwan conference and exhibition in Taipei City. Running July 23-27, the international event is jointly organized by Washington, D.C.-headquartered Biotechnology Innovation Organization and Taipei-based Taiwan Bio Industry Organization.
Cho said more than 900 firms are showcasing their products and services at around 2,200 booths to industry professionals hailing from 50-plus countries, adding that the scale and importance of the event underscore the prominence of Taiwan’s biotechnology sector.
According to the premier, the local sector’s revenue has increased tremendously over the past decade, reaching a record high of NT$775.4 billion (US$26.37 billion) in 2024. Domestic firms have launched 15 new medicines in global markets so far, and tens of innovative medical devices developed in Taiwan receive licenses from overseas regulatory agencies every year, he added.
As the first physician elected to the presidency in Taiwan, President Lai Ching-te immediately set up a presidential commission upon taking office in May 2024 to optimize the current long-term care initiative, with the new version scheduled to launch next year, Cho said. Other ongoing projects aim to expand early cancer screening, establish a fund to develop new cancer treatments and develop gene screening and precision medicine, he added.
The premier said he was briefed by the National Science and Technology Council earlier the same day on progress on expanding the Taiwan Chip-based Industrial Innovation Program to include the biomedicine and agriculture sectors. Cho expects the efforts to help facilitate the development of precision medicine and smart agriculture in Taiwan. (SFC-E)
Write to Taiwan Today at ttonline@mofa.gov.tw
The premier made the remarks during the opening ceremony of the Bio Asia-Taiwan conference and exhibition in Taipei City. Running July 23-27, the international event is jointly organized by Washington, D.C.-headquartered Biotechnology Innovation Organization and Taipei-based Taiwan Bio Industry Organization.
Cho said more than 900 firms are showcasing their products and services at around 2,200 booths to industry professionals hailing from 50-plus countries, adding that the scale and importance of the event underscore the prominence of Taiwan’s biotechnology sector.
According to the premier, the local sector’s revenue has increased tremendously over the past decade, reaching a record high of NT$775.4 billion (US$26.37 billion) in 2024. Domestic firms have launched 15 new medicines in global markets so far, and tens of innovative medical devices developed in Taiwan receive licenses from overseas regulatory agencies every year, he added.
As the first physician elected to the presidency in Taiwan, President Lai Ching-te immediately set up a presidential commission upon taking office in May 2024 to optimize the current long-term care initiative, with the new version scheduled to launch next year, Cho said. Other ongoing projects aim to expand early cancer screening, establish a fund to develop new cancer treatments and develop gene screening and precision medicine, he added.
The premier said he was briefed by the National Science and Technology Council earlier the same day on progress on expanding the Taiwan Chip-based Industrial Innovation Program to include the biomedicine and agriculture sectors. Cho expects the efforts to help facilitate the development of precision medicine and smart agriculture in Taiwan. (SFC-E)
Write to Taiwan Today at ttonline@mofa.gov.tw
from Taiwan Today – Top News