Taiwan could enjoy a per capita GDP of US$30,000 in 2015 with proper economic policies, Chung-Hua Institution for Economic Research (CIER, 中經院) chairman Vincent Siew (蕭萬長) predicted yesterday.
Siew's remarks were part of a report on Taiwan's economic prospects in 2015 conducted by five of the nation's major economic think tanks -- CIER, the Taiwan Institute of Economic Research (台經院), the Taiwan Thinktank (台灣智庫), the Taiwan Research Institute (台綜院) and Academia Sinica.
The report is expected to be published tomorrow, the 25th anniversary of CIER.
Siew noted that the success of future markets would hinge on who can provide the best value-added services to clients.
With the research of the think tanks, Siew said he believed Taiwan could see its GDP jump significantly by promoting what he described as "3B" (bridge, brain and branding).
"Bridge means Taiwan should open its market further and make more connections with the rest of the world," Siew said, suggesting that Taiwan open direct links with China and ease restrictions on cross-strait marine transport.
"Brain means Taiwan should try its best to attract and cultivate talent, while branding means domestic firms should set up their own brand names," he added.
The report envisions an economic outline for Taiwan in 2015 with the hope that the country's economic growth might top 5 percent, per capita GDP could reach US$30,000 and the unemployment rate could drop to under 4 percent, while the production of specialists such as accountants and lawyers would account for 45 percent of the service industry.
RSS