The National Development Council (NDC) is to draw up a road map to guide the nation’s search for a new growth engine in the next four years based on technology, green energy and other core strategic industries, new NDC Minister Kung Ming-hsin (龔明鑫) said yesterday.
The world would see continued US-China trade tensions and supply chain realignment characterized by less concern over production costs and more for risk control and the assurance of critical technology and materials, Kung said.
“The shifting trends pose both challenges and opportunities, and Taiwan should carve out a niche position on the global stage,” Kung said.
Taiwan’s information technology sector commands global leadership, enabling the nation to emerge unscathed from a US-China trade war and remain resilient amid the ongoing COVID-19 pandemic, he said.
The nation’s economy would grow by more than 1 percent this year, while major trading partners suffer contractions induced by lockdown measures to contain the novel coronavirus, he added.
Local tech firms have benefited from a surge in demand for laptops, tablets and devices used in teleworking and distance learning, which has helped offset a decline in smartphone sales, Kung said.
Technology is to gain more importance in the post-pandemic era, when Taiwan can seize on growing demand for 5G, artificial intelligence and the Internet of Things, he said.
The future technology supply chain would assign more weight to the pursuit of quality instead of quantity, which contributed to the rise of China and ASEAN states as the world’s factories, Kung said.
The council would press ahead with efforts to build Taiwan into the “Asian Silicon Valley,” he said.
In the meantime, the government is to deepen the development of renewable energy sources, particularly offshore wind farms that would grow into another trillion-dollar business and create well-paid jobs for young people, Kung said.
Wind farms last for only two decades, creating a need for new workers for decades to come, he said.
The council would also create a list of critical technologies and materials, and make sure that the government builds up a healthy supply for national security, Kung said, citing face masks and related materials as examples.
The government would assume a more active role in the nation’s economic development, as seen in a so-called national team for the production of masks, stabilization of the local bourse and financial relief efforts amid the pandemic, Kung said, adding that the change is consistent with the global trend toward deglobalization.
The council would wrap up the road map as soon as possible, he said.
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