Pharmaceutical News
MOEA to push through a 10-year industrial transformation project

Reported by Huang Chiao-Wen from Taipei

The MOEA is to announce a 10-year project to help industries transform and upgrade.  The MOEA is to push the government to allocate NT$10 billion to fund this project on top of the MOEA’s annual budget. 

The MOEA is to hold a press conference on the 15th to announce this project, titled “the general mobilization to support industrial upgrading and transformation”.  Details of the project will be announced in the press conference.  It is said that the project has three axes: revitalizing traditional industries, strengthening key industries and developing emerging industries.  To achieve those targets, the project formulates four strategies: increasing values, covering all key factors, developing systems and cultivating emerging talents.

The project targets on the following industries: CNC controller, flat panel display, semi-conductor, the application of wireless broadband, high-value petrochemical products, high-value textile products, B4G/5G communication system, new drugs and new medical devices, 3D printing, smart automatic production, cloud data center, catering, logistics and e-commerce. 

In order to speed up the industrial upgrading and transformation, the MOEA is to implement seven measures, including a reasonable tax system, available funds, investment in innovation, a budget for industrial transformation, a friendly environment, land release, talent cultivation, etc. 

What’s worth noticing is that the MOEA is to press the government to allocate more money to fund this 10-year project of industrial upgrading and transformation.  On top of the annual budget, the MOEA is pushing through an extra fund of NT$10 billion over a period of 4 years. These additional funds will be directly used to subsidize innovators so as to promote the industrial upgrading and transformation. 

Furthermore, to help the industry to retain talents, the Executive Yuan has decided to give a 5-year tax relief on employee stock bonus plan.  And to help companies to obtain funds, the National Development Fund is to put together its resources and provide a total of NT$150 billion loan to help companies upgrade and transform. 

The MOEA mentioned that, facing the severe global competition, international companies have resort to merger or acquisition with the view to curtailing R&D process or to expanding the market.  This has become a global trend. 

Generally speaking, the MOEA hopes to push the industrial output from NT$13.93 trillion in 2013 to NT$19.46 trillion in 2020, and high-quality export value from NT$3.15 trillion to 7.21 trillion. 

【2014-10-12/ Central News Agency】