Cabinet OKs Forward-looking Infrastructure Program 1st term special budget

2017/07/14

The NT$108.9 billion (US$3.6 billion) special budget for the first term of the Forward-looking Infrastructure Program was approved July 11 by the Cabinet, paving the way for commencement of the comprehensive government initiative aimed at addressing Taiwan’s key infrastructure needs over the next 30 years.

Passed by the Legislature July 5, the NT$840 billion eight-year FIP underpins the government’s goal of engineering Taiwan’s economic revitalization and industrial transformation. It includes projects spanning railway development, digital infrastructure, aquatic environment, food safety, green energy, urban-rural development, boosting birth rates and child care facilities, and nurturing talent and employment.

Premier Lin Chuan said every dollar allocated for the FIP will be spent in an efficient and transparent manner. The special budget is also subject to the provisions of the Public Debt Act, which was amended in 2013 to maintain the integrity of national finances, support Taiwan’s development needs and regulate the public debt of central and local governments, he added.

According to the Cabinet-level Directorate-General of Budget, Accounting and Statistics, the first stage of the FIP is costed at NT$420 billion and set to run for four years. Upon completion, the results will be reviewed by the Legislature before the green light is given for the second stage’s planning and budget formulation.

Of the FIP special budget’s eight main areas, urban-rural development accounts for the lion’s share at 32.5 percent, or NT$35.4 billion, followed by aquatic environment, 23.6 percent, NT$25.7 billion; railway development, 15.6 percent, NT$17 billion; digital infrastructure, 14.9 percent, NT$16.2 million; green energy, 7.4 percent, NT$8.1 billion; nurturing talent and employment, 3.9 percent, NT$4.2 billion; boosting birth rate and child care facilities, 1.8 percent, NT$2 billion; and food safety, 0.3 percent, NT$300 million.

Of the top three allocations, urban-rural development involves improving roads and public spaces, building localized industrial parks and constructing tailored infrastructure to help empower indigenous communities; aquatic environment focuses on upgrading water supplies, providing high-quality drinking water and strengthening environmental sustainability; and railway development centers on upgrading the national rail network through integrating high-speed and traditional rail services, as well as promoting urban mass rapid transportation.

The special budget is before the Legislature for review during the current special session, according to the Cabinet.

Source: Taiwan Today (http://taiwantoday.tw/news.php?unit=2&post=118386)