Thu, Dec 23, 2004 - Page 4 News List

Executive releases development plan

CNA , TAIPEI

The Executive Yuan has announced a second national development plan yesterday aimed at doubling GDP in 10 years, officials from the Council for Economic Planning and Development said.

The plan hopes to transform Taiwan into "an environmentally friendly `silicon island' with humanistic characteristics," the Cabinet spokesman, Chen Chi-mai (陳其邁), quoted Premier Yu Shyi-kun as saying after a meeting with council officials.

According to the council, the New Century Second National Development Plan will feature two parts.

The first is a four-year development project between next year and 2008; the second is a series of longer-term projects stretching through to 2015.

During the first part of the plan, GDP is expected to grow at an average annual rate of 4.9 percent, raising per capita income to NT$570,000 (US$17,800) by 2008, council officials said.

In the 10 years to 2015, they added, GDP is forecast to advance by an average annual rate of 4.6 percent, raising per capita income to NT$875,000, double this year's figure.

Council officials did not elaborate on whether the plan will overlap with the "Ten New National Development Projects" plan mapped out by the Executive Yuan a couple of years ago.

Some key programs within that initiative have yet to commence.

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