The Council for Economic Planning and Development (CEPD) yesterday announced that it will spend NT$10 billion (US$341.43 million) on boosting the nation’s traditional industries.
The plan will be differentiated into five two-year terms, to help upgrade traditional industrial sectors, Council for Economic Planning and Development Deputy Minister Wu Ming-chi (吳明機) told a press conference.
The plan is expected to help raise exports and private investment by NT$200 billion and NT$50 billion respectively, the council said in a report.
The council predicts that the plan will create 25,000 jobs and hopes that traditional industries can create five international brands, according to the report.
In the initial stage the council will select 12 areas; one in the agricultural sector, three in the service sector and eight in the industrial sector, Wu said.
The plan came after government statistics showed exports increased 10.4 percent last month from a year earlier, ending six consecutive months of declines.
However, exports for the first nine months of the year were still down 3.9 percent year-on-year at US$223.56 billion, government figures showed.
The Directorate-General of Budget, Accounting and Statistics forecast in August that exports for the year would contract 1.72 percent, the first contraction since the global financial crisis, and predicted private investment would post an annual decline of 1.03 percent this year.