Date: November 11, 2016
A biomedical promotion plan budgeted at NT$10.94 billion (US$346.32 million) for next year was
approved Nov. 10 by the Executive Yuan as part of government efforts to further advance President Tsai Ing-wen’s five-plus-two innovative industries initiative and transform Taiwan into a center of biotechnology and medical R&D in Asia.
Hsu Kuo-yung, spokesman of the Executive Yuan, said as the undertaking calls for wide-ranging cooperation among government ministries and agencies, Premier Lin Chuan has directed all related parties to jointly draft an action plan for its implementation.
Overseen by the Ministry of Science and Technology, the plan involves enhancing areas like human resources, finances and intellectual property. A key undertaking is drafting legislation on foreign investment, overseas talent recruitment, tax breaks and easing restrictions on the development and production of experimental medical devices and pharmaceuticals.
Other objectives include establishing a north-south biomedical corridor linking the main campuses of Taiwan’s three science parks in Hsinchu, Taichung and Tainan cities so as to enhance their research capabilities; tapping the international health care market, particularly in countries covered by the New Southbound Policy; and developing precision medicine, specialized clinics and health-related peripheral industries. [FULL STORY]