The 2019 BioTaiwan Committee (BTC) Meeting finished on the 5th. Dr Chang Hong-Jen, on behalf of the panel, drew up four conclusions, including cross-sector collaboration, regulatory planning, loose monetary policies and international links. Chen Chi-Mai, Vice Premier of the Executive Yuan, immediately gave instructions to relevant government departments and agencies to formulate concrete proposals in one month.
During the three-day meeting, committee members and a panel of scholars and experts discussed various issues. Dr Chang Hong-Jen made the conclusions on behalf of the participants, offering four suggestions which include “cross-sector collaboration to lead innovation”, “regulatory planning to guide the industry development”, “loose monetary policies to build up the momentum of the industry” and “international links to increase Taiwan’s global visibility”.
In the aspect of cross-sector collaboration, Dr Chang suggested that the MOE should strengthen the cross-disciplinary approach to new technology and keep up with the industry’s demand on human resources. The MOE should also cultivate talents in clinical trials and cross-disciplinary management. Also, funding and grants should not be allocated in a manner of prize-for-everyone.
Regarding the regulatory planning, Dr Chang suggested that the competent regulatory authority should select the areas to Taiwan’s advantage and formulate forward-looking legislation for next 5-10 years. The authority should closely communicate with domestic and international experts and the industry during the legislation process. The integration of the healthcare system and the IT industry will provide new opportunities. Dr Chang suggested that the competent authority should establish a national bio bank and consider lowering the regulatory barrier to allow the industry to access the databank for researches.
As for capital, Dr Chang suggested that the government should adopt a loose monetary policy and increase information transparency. The National Development Council should use the National Development Fund to guide private investment to help the stock market gain momentum. The government should also relax the regulations to attract foreign investment into Taiwan, speed up investment assessment and lift the ban on money transfer.
Dr Chang pointed out that as the “Biotech and New Pharmaceutical Development Act” is to expire in 2021, the government should consider not only an extension, but also a revision to take a forward-looking approach to address the issues concerning talent cultivation, capital needs, personal investment allowance, foreigner tax rates and the trend of emerging health technology.
【2019-09-06 / Economic Daily News】
