Taiwan Unveils New Economic Thrusts

Manila Bulletin, October 16, 2012 | Go to article overview

Taiwan Unveils New Economic Thrusts


TAIPEI - Taiwan has announced its readiness to reposition itself in the international economic and trade system and to restructure its industries accordingly to create a new economic development model.

In his National Day address, Taiwanese leader Ma Ying-jeou also proposed four main directions that his government will pursue.

These are: 1) Reforming industrial structure and raising salary levels; 2) Eliminating investment barriers and increasing job opportunities; 3) Defending sovereignty and fishing rights, and promoting regional peace; and 4) Solidifying democracy and the rule of law, while enhancing the development of cross-strait relations.

"Taiwan should become a supplier of key components and precision equipment, as well as a developer of innovative services," Ma emphasized.

He also vowed to support the efforts of Taiwan's businesses to develop critical technologies, produce key components, and carry out research and development efforts aimed at creating precision equipment with intelligent functions and unique competitive advantages. …

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