Minister of Science and Technology Wu Tsung-tsong on June 10 said that despite COVID-19 impacts, the Ministry will work towards maintaining its planned NT$120 billion budget. The Ministry is optimistic about Taiwan’s ability to integrate information communication technologies with the health care industry to develop a precision medicine ecosystem.
Minister Wu said that due to the pandemic, it would be challenging to increase the budget for the Ministry of Science and Technology beyond the planned NT$120 billion, while emphasizing that the Ministry will be prudent with its spending, focusing on bolstering cross departmental collaboration in forming Taiwan’s industry development plan for the next decade.
Regarding industry development, Minister Wu said that precision medicine is a future trend, while expressing optimism about Taiwan’s ability in fostering collaborations between the information communication technology and medical care industries. In addition to medical treatments, the upcoming collaborations aim to create solutions to tap into commercial opportunities in the markets for preventative care and long-term care. Taiwan has a comprehensive National Health Insurance database, which if combined with information communication technology and other categories including new drug and medical device development and health supplements, could help reinforce Taiwan’s potential in precision medicine.
On whether Taiwan’s precision medicine ambitions will require regulatory amendments, Minister Wu said that the ministry last year requested the Ministry of Economic Affairs to assist with amending the 2007 Act for the Development of Biotech and New Pharmaceuticals Industry, adding that work is underway to draft an amendment to promote precision medicine development.
Separately, regarding the required data access for the development of precision medicine, Minister Wu said that data economy and data governance are large undertakings, and that an independent regulatory agency should be established to ensure information security and address privacy concerns of human rights organizations.
[2020-06-10/ CNA]
