President Tsai looks to strengthen Taiwan’s position in global supply chains

2021/03/04

President Tsai Ing-wen promised March 2 to leave no stone unturned in strengthening Taiwan’s economic competitiveness, underscoring government commitment to cementing the country’s position in global supply chains.

Various economic measures are being rolled out to further spur the economy, including accelerating innovation and upgrades across industries while enhancing international economic and trade cooperation, Tsai said.

The president made the remarks while receiving a delegation of business leaders at the Presidential Office in Taipei City.

According to Tsai, the government is working flat out to transform Taiwan into a global hub of high-end manufacturing, technology and green energy. In addition to launching three major investment programs since January 2019 to meet the needs of local companies undertaking reshoring, the government is also working closely to deepen business links with like-minded countries such as through the Taiwan-U.S. Economic Prosperity Partnership Dialogue.

Taiwan recorded economic growth last year despite the devastating impact of the COVID-19 pandemic worldwide, Tsai said, adding ongoing efforts would strengthen the position of the country’s industries in post-pandemic global supply chains as per the objectives of the six core strategic industries initiative.

Unveiled by Tsai during her inauguration address in May 2020, the initiative springboards off the five-plus-two innovative industries program. It comprises information and digital technology; cybersecurity; biotech and medical technology; national defense; green and renewable energy; and strategic stockpile industries.


Source: Taiwan Today (https://taiwantoday.tw/index.php)