The Executive Yuan yesterday agreed to earmark NT$50 billion to develop Taiwan into an international research and development center, and to raise NT$100 billion as a venture capital fund to help local businesses develop high value-added products.
The two projects are part of the Cabinet's six-year national development project.
The Cabinet yesterday held the first of a series of ministry-level meetings to discuss the national project.
According to Ho Mei-yueh (何美玥), vice chairwoman of the Council for Economic Planning and Development, yesterday's meeting concluded that the economic part of the national development project will have four major tasks.
"These are: to build Taiwan into the best research and development base in Asia, to develop high value-added products, to construct Taiwan as the most digitalized nation in Asia, and to build Taiwan into the best operations center in Asia for both local businesses and international enterprises," Ho said.
In a bid to build Taiwan into the best research and development base in Asia, Ho said, the Cabinet plans to recruit international research and development talent from abroad.
In addition, it would offer NT$50 billion in loans to help the corporate sector establish research and development centers and training academies.
To help local businesses develop high value-added products, the Cabinet plans to raise NT$100 billion in venture capital to encourage local businesses to invest in the development of such products.
To make Taiwan a digitalized nation, the Cabinet plans to popularize the home and commercial use of the Internet and broadband and to digitalize industries, government and transportation.
To build Taiwan into an operation center, the Cabinet plans to encourage the industrial sector to establish operation headquarters and to construct barrier-free customs.
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