The Council for Economic Planning and Development (CEPD) yesterday released a preliminary plan for the future development of various industries in Taiwan, as the government aims to attract more investment by differentiating the development trend and building a niche for each region.
The plan is part of the council’s program, dubbed “homes for industries, industries for homes,” that is designed to upgrade the nation’s overall competitiveness by mapping out the geographic location of industries. As part of the “Invest in Taiwan” project launched last year by the council, the program is also expected to drive up private investment in the coming decade, the council said.
Based on the council’s report, the program has attracted a total of NT$328 billion (US$10.82 billion) in potential investment since it was launched in January.
“Since global economic uncertainties may lead to a relatively ‘cold’ sentiment on the export sector next year, we have to retain the ‘warm’ momentum on domestic demand to be the driver of economic growth,” Council for Economic Planning and Development Minister Christina Liu (劉憶如) told a press conference.
In addition, more investment would bring more local job opportunities and push up incomes, further strengthening momentum in the private consumption sector, Liu said.
Beginning next year, “we will focus more on integrating these key industries with each region by helping them recruit adequate funds, qualified employees and appropriate lands,” she said.
The state-owned National Development Fund is expected to play an important role in the initial investment in these key industries, while relaxing investment regulations would be the other major priority.
The council also plans to launch a subsidy program for manpower training, which would help train local residents for employment in the key industries of their region, according to the council.
Under the council’s geographic location plan for various industries, tourism was the only sector that all regions showed an interest in developing, followed by their intentions to promote the development of creative and cultural industries and that of sophisticated, high-quality agriculture, the report showed.
By region, industries related to exhibitions and conventions, urban renewal, financial services and medical tourism would be centered in Taipei City, New Taipei City (新北市), Yilan County and Keelung, while industries related to electric vehicles, green energy and semiconductors would be key to developing Taoyuan, Hsinchu and Miaoli counties, the report said.
In Greater Taichung, Nantou and Changhua, precision machinery and bicycles are expected to be key industries for development, it said.
Industries of deep-sea water and international elementary and high schools will be set for Hualian and Taitung, while biotechnology would be developed across southern Taiwan, including Yunlin, Chiayi and Pingtung, Greater Tainan and Greater Kaohsiung, it said.