Premier Cho outlines national development plan for Taiwan

2024/11/28

Premier Cho Jung-tai reiterated the government’s national development plan and expressed hope of working with the private sector to adapt Taiwan to the changing global landscape and enhance the country’s economic sustainability.
 
The premier made the remarks during his first breakfast meeting with members of Taipei City-based Chinese National Association of Industry and Commerce Nov. 26 in the capital.
 
According to Cho, a raft of key policy initiatives are already being implemented. These include the Five Trusted Industry Sectors of artificial intelligence, military, next-generation communications, semiconductors, and security and surveillance; the five NT$10 billion (US$307.6 million) funds promoting AI, cultural and creative content, green growth, health tech and youth empowerment; and the pathway to net-zero emissions by 2050.
 
The goal is to ensure an average economic growth of 3 percent in the following four years, with the gross domestic product per capita topping US$40,000, unemployment remaining below 3.5 percent and the consumer price index staying within 2 percent, he said.
 
As decided at the first meeting of the Cabinet-level Economic Development Commission staged in July this year, the government plans to transform Taiwan into Asia’s hub for asset management; introduce NT$3 trillion of domestic and foreign capital in key industries; and cultivate and recruit top-tier professionals from home and abroad, Cho said.
 
Equally important is the need to encourage innovation for inclusive growth, the premier said, adding that six major governance programs and 140 regional infrastructure projects are already in the pipeline to ensure balanced development throughout the country.
 
Cho said the new National Climate Change Committee overseen by the Presidential Office reflects the government’s commitment to achieving net-zero emissions by 2050. The government will gradually phase out fossil fuel power plants, develop diverse green energy sources and study new nuclear power technologies to advance the country’s second energy transition.
 
On the global front, the premier said no effort is being spared to deepen partnership with the U.S. through frameworks like the Taiwan-U.S. Initiative on 21st Century Trade while seeking participation in regional trade blocs and global organizations to ensure Taiwan’s continued economic growth. 


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