By: Ku Chuan and Evelyn Kao
Premier Su Tseng-chang (蘇貞昌), who gave the nod to the Ministry of Economic Affairs (MOEA)-proposed project during a Cabinet meeting, said that the U.S.-China trade war and COVID-19 pandemic are triggering a major restructuring of global supply chains. As a result, more Taiwanese businesses abroad are considering moving high-end product manufacturing back to Taiwan.
The government is looking to take advantage of the opportunities this presents to accelerate the transformation of Taiwan's economy and upgrade domestic industries over the next four years, Su added.
The MOEA plan seeks to build Taiwan into a high-end manufacturing center in Asia by collaborating with industrial associations to introduce artificial intelligence (AI), 5G and smart technologies for businesses. [FULL STORY]