President Lai Ching-te said Feb. 24 that the government is committed to stimulating Taiwan’s economic growth in technology and traditional industries and driving the country’s smart development.
Lai made the remarks while attending a Lunar New Year event organized by the Straits Exchange Foundation and attended by China-based Taiwanese businesspeople in Taichung City. He first elaborated on government work to maintain Taiwan’s economic growth since former President Tsai Ing-wen took office in 2016, and announced that the economic growth rate this year is expected to reach 7.71 percent on the strength of Taiwan’s strong technology industry and anticipated rises in traditional sectors, which will benefit from tariff negotiation results with the U.S.
The government will undertake further work in other sectors, the president said, citing the Ten Major AI Infrastructure Projects, which aims to cultivate 500,000 AI personnel by 2040 and generate a NT$15 trillion (US$478 billion) production value. The administration will also create an AI innovation and entrepreneurship ecosystem, introduce AI technology to small- and medium-sized enterprises and establish a smart living environment, he added.
According to Lai, the government will make good use of a capital of NT$130 trillion accumulated from the growing banking, securities and insurance industries over the past decade. Such capital will be used to shape Taiwan into an Asian asset management center, build infrastructure with an allocation of NT$1 trillion, and assist micro-, small-, and medium-sized businesses to upgrade by providing supportive measures including tax exemptions, personnel cultivation and technical guidance, he said.
The president went on to emphasize the importance of the defense industry as part of the Five Trusted Industry Sectors initiative, adding that the special defense budget will also help promote Taiwan’s industrial upgrading and transformation.
Following policies introduced under Tsai, the president said he is also determined to protect national security and safeguard peace across the Taiwan Strait and the Indo-Pacific, of which the key is to maintain the cross-strait status quo. He further added that he looks forward to more exchange, dialogue and cooperation between the two sides of the strait to achieve peace and mutual prosperity. (YCH-E)
Write to Taiwan Today at ttonline@mofa.gov.tw
Lai made the remarks while attending a Lunar New Year event organized by the Straits Exchange Foundation and attended by China-based Taiwanese businesspeople in Taichung City. He first elaborated on government work to maintain Taiwan’s economic growth since former President Tsai Ing-wen took office in 2016, and announced that the economic growth rate this year is expected to reach 7.71 percent on the strength of Taiwan’s strong technology industry and anticipated rises in traditional sectors, which will benefit from tariff negotiation results with the U.S.
The government will undertake further work in other sectors, the president said, citing the Ten Major AI Infrastructure Projects, which aims to cultivate 500,000 AI personnel by 2040 and generate a NT$15 trillion (US$478 billion) production value. The administration will also create an AI innovation and entrepreneurship ecosystem, introduce AI technology to small- and medium-sized enterprises and establish a smart living environment, he added.
According to Lai, the government will make good use of a capital of NT$130 trillion accumulated from the growing banking, securities and insurance industries over the past decade. Such capital will be used to shape Taiwan into an Asian asset management center, build infrastructure with an allocation of NT$1 trillion, and assist micro-, small-, and medium-sized businesses to upgrade by providing supportive measures including tax exemptions, personnel cultivation and technical guidance, he said.
The president went on to emphasize the importance of the defense industry as part of the Five Trusted Industry Sectors initiative, adding that the special defense budget will also help promote Taiwan’s industrial upgrading and transformation.
Following policies introduced under Tsai, the president said he is also determined to protect national security and safeguard peace across the Taiwan Strait and the Indo-Pacific, of which the key is to maintain the cross-strait status quo. He further added that he looks forward to more exchange, dialogue and cooperation between the two sides of the strait to achieve peace and mutual prosperity. (YCH-E)
Write to Taiwan Today at ttonline@mofa.gov.tw
from Taiwan Today – Top News