Economy

Flagship industries selected for inbound investment

CEPD Minister Christina Y. Liu explains how the government's 10 flagship industries will attract NT$317 billion in foreign investment. (CNA)

• Publication Date：07/29/2010
• Source： Taiwan Today
• By  Audrey Wang

The government has nominated 10 of Taiwan’s key industries as bellwethers for its drive to attract increased foreign investment, said Christina Y. Liu, minister of the Council for Economic Planning and Development, July 28.

“This is just the beginning,” Liu said. “The CEPD is now seeking proposals from local governments for a second set of measures focusing on infrastructure projects.”

According to Liu, all related ministries submitted preliminary plans in support of the government’s campaign to lure investment from abroad. The 10 flagship industries were selected by the Cabinet on the basis of development levels, market potential and the number of job opportunities expected to be created.

Under the initiative, the CEPD expects to attract NT$317 billion (US$9.9 billion) of investment to Taiwan in a number of areas. These include biotechnology and medical care; cloud computing and WiMax; cultural, creative and digital content; high-tech industrial clusters, intelligent electric vehicles; internationalization of local food; green energy and buildings; smart handheld devices; Taoyuan Aerotropolis and urban renewal.

Liu said the government also adopted ideas from the private sector during the selection process.

“Internationalizing the local food industry and developing smart handheld devices are both private sector concepts,” she said. “The government has high hopes for these industries.”

Concerning smart handheld devices, such as mobile phones and e-readers, the CEPD minister said the government will focus on strengthening and integrating the production supply chain. This includes chip and smart cell phone design and manufacturing, software applications and distribution channel development.

“We have some domestic suppliers who are leaders on the international stage,” Liu said. “If we can capitalize on this advantage by seeking further cooperation with some well-known companies abroad, we will be able to close some of the gaps in the local industry chain.” (THN-JSM)

Write to Audrey Wang at audrey@mail.gio.gov.tw