The Taoyuan Aerotropolis is the nation's most important infrastructure project since the Ten Major Construction Projects in the 1970s, Premier Jiang Yi-huah said today at a founding ceremony and international summit organized by the Taiwan Intelligent Aerotropolis Association.
Over NT$500 billion (US$17 billion) will be invested in the aerotropolis to generate economic benefits exceeding NT$2.3 trillion (US$78 billion) and create over 300,000 jobs in the greater Taipei area, according to projections cited by the premier.
"This is the largest investment and the most anticipated flagship program the nation's public infrastructure development in years," he emphasized.
Jiang stated that the project will not only transform Taoyuan into Taiwan's "gateway capital" but also play a critical role in transforming Taoyuan County and the greater Taipei area. Furthermore, it can lead the nation's industries into a new phase of development through industrial adjustments and upgrades as well as the introduction of smart industries, he added.
The premier also pointed out the project is closely linked with the Free Economic Pilot Zones (FEPZs) which are being actively promoted by the Executive Yuan. "Currently the government is moving full speed ahead to formulate special statutes for the FEPZs which, after approval by the Legislature, will propel Taiwan's economy into a crucial transformative stage," he said.
"The implementation of FEPZs—which calls for liberalization, internationalization and forward-looking perspectives—is laying the groundwork for Taiwan's next phase of economic development," he continued. In terms of strategy, by deregulating the flow of talent, goods and capital, the FEPZs are expected to attract internationally competitive enterprises to invest in Taiwan. Major industries to be promoted in the FEPZs include smart logistics, value-added agriculture and international health care. Following recent reviews, it has been decided that financial services and innovative educational businesses shall be incorporated as well.
"If the new models for industrial transformation and foreign investment can usher in further development and transformation of related industries, the combination of the Taoyuan Aerotropolis and FEPZs will make the greatest contribution to Taiwan. In view of this epoch-making mission, I expect officials, the public, academia and industry to work hand-in-hand to contribute their knowledge and wisdom for this major infrastructure project, which will benefit the nation and people," Jiang concluded.