Taiwan has made upgrading traditional industries a top policy priority, aiming to introduce information and communications technologies, cultural and creative strengths, eco-friendliness, and innovative business models to help these industries adapt to global competition and create high added value, said Premier Mao Chi-kuo today at the Cabinet's weekly meeting following a progress report by the Ministry of Economic Affairs (MOEA) on this development.
Traditional industries are extremely important because they play a vital role in spurring economic growth, creating jobs and increasing salaries for employees in Taiwan, the premier stressed.
The MOEA has provided assistance with upgrade and transformation to select traditional industries, including casting, fasteners, shoes and cosmetic products, helping them to enjoy brisk growth, Premier Mao pointed out. He directed the MOEA to continue working with related government agencies to replicate success stories and combine this work with international marketing to build Taiwan's global brands. It is also essential to incorporate small and medium-sized enterprises and assist them with marketing, the premier said, urging all related ministries and departments to join forces.
The MOEA said that in the past traditional industries have focused on lowering costs and prices, a business model that is no longer competitive in the global market. Hence, the ministry has implemented a program to upgrade and transform industries, adding smart, green, and cultural and creative elements to create higher added value for their products, differentiating them from those of competitors. This will also shape the nation's image as a producer of high-quality goods, it added.
To further promote upgrade of traditional industries, attract more young people, and encourage more businesses to embrace transformation, the MOEA has established an advisory taskforce consisting of five regional service teams. These teams are respectively dedicated to the outlying islands and northern, central, southern and eastern Taiwan. The service taskforce is combining resources from industries, academia, and research institutes to increase added value and expedite restructuring for traditional industries.