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Smart machine production hits another record high

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At Thursday's weekly Cabinet meeting, Premier Su Tseng-chang said that the Smart Machinery Development Program has produced encouraging results since its launch, powering a 7.3-percent increase in the industry's production value, from a record of over NT$1 trillion (US$32.4 billion) in 2017 to a new record high of NT$1.18 trillion (US$38.3 billion) in 2018.

The premier's remarks came following a briefing by the Ministry of Economic Affairs on the program's progress and results.

The program aims to upgrade Taiwan's precision machinery production into an intelligent machinery industry, with an eye toward creating jobs, expanding exports of turnkey solutions, and building Taiwan into a global hub for the research, development and manufacture of smart machinery and key components for high-end equipment, said Premier Su.

To spur investor interest in the sector and accelerate the upgrade to smart manufacturing, the Executive Yuan approved a draft amendment to the Statute for Industrial Innovation on December 20 of last year offering tax credits on purchases of smart machinery, the premier noted.

Pledging full government support for local companies seeking to expand overseas, Premier Su directed the Ministry of Foreign Affairs to proactively assist Taiwanese businesses in boosting exports, making inroads into global supply chains, and fostering industrial cooperation with countries targeted by the New Southbound Policy.

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