High-end manufacturing touted

NEW MODEL: The government is to make the development of artificial intelligence and 5G technologies its top priority, the National Development Council minister said

Taipei Times
Date: Jun 18, 2020
By: Crystal Hsu / Staff reporter

The government is looking to develop a new economic model that would build Taiwan into a regional high-end manufacturing hub, while low-end manufacturing activity migrates to ASEAN, National Development Council Minister Kung Ming-hsin (龔明鑫) said yesterday at a meeting of The Third Wednesday Club, a trade group whose membership is limited to the top 100 firms in each business sector.

The government is drawing up plans to help firms cope with the COVID-19 pandemic and US-China trade tensions, which are reshaping global technology supply chains, Kung said.

The undertaking, dubbed the “economic development plan version 2.0,” calls for the deployment of a forward-looking space and microsatellite industry, the creation of a digital development department, and the nation becoming Asia’s advanced manufacturing hub, he said.

Ministries are working to realize NT$6 trillion (US$202.14 billion) of investment projects and to increase funding for the development of renewable energy sources, Kung said.
[FULL  STORY]