Making the services industry more tech-savvy and internationalized will increase added value, create jobs and provide better service to consumers, Premier Sean Chen said today after hearing a report from the Ministry of Economic Affairs (MOEA).
According to the MOEA, the services industry has made impressive gains in recent years. Output value generated by core service industries (including wholesale, retail, food and logistics) accounted for 22.31 percent of the gross domestic product in 2011. The nation's trade in services improved from a deficit to surplus for the first time ever in 2008. And, tourism services overseen by the Ministry of Transportation and Communications saw a surplus in 2011 and the first half of 2012.
The premier said the internationalization efforts have produced early results, but more groundwork is needed to help services go high-tech. In parallel with this initiative, the government is also developing a service-oriented manufacturing industry as well as a specialty-oriented traditional industry—part of the Three Industries, Four Reforms program to improve Taiwan's industrial structure. Strategic collaboration across sectors will create a synergy that expands the market scale and multiplies benefits for the services industry.
Premier Chen also noted that the broader Economic Power-Up Plan has already shown benefits and asked the MOEA to publicize success stories as examples for other agencies to follow.
Additionally, the MOEA has formulated the "Industrial Development Strategy 2020" plan to revitalize Taiwan's economy and create a better living environment for citizens amid rapid global changes and growing competition from emerging countries.