President Chen Shui-bian (
While addressing the opening of an infrastructure conference, Chen said government invested projects would play a critical role in the country's economic development.
"Over the next five years the government plans to add NT$100 billion for infrastructure projects each year," Chen said.
"Job opportunities will be increased over a short period of time and the ailing economy will be helped," he said.
Taiwan will also be turned into an environment in which traditional industries are upgraded and high-tech industries retain their competitive edge, Chen said.
Increasing spending for public infrastructure projects was one of the measures drafted by a panel of experts, politicians and business-people last month to help get the economy out of its slump.
The jobless rate in July hit a record high of 4.92 percent, up from the previous high of 4.51 percent in June, a sharp increase from 3.06 percent a year earlier, the Directorate General of Budget, Accounting and Statistics said.
The economy has been hit hard by an economic slowdown in the US, which has harmed exports.
Economic growth here in the three months to June suffered its biggest quarterly fall for 26 years of 2.35 percent.
The economy is expected to contract 0.37 percent this year, sharply down from government's earlier estimate of 4.02 percent growth.
RSS