The Executive Yuan on Wednesday approved the Forward-looking Infrastructure Development Program (2017-2024) to address Taiwan's future development needs.
The eight-year program will expand investments in major infrastructure (including railways, aquatic environments, green energy, digital technology, and urban and rural facilities) in a way that maintains fiscal stability. It is expected to accelerate Taiwan's economic transformation while balancing and integrating the development of different regions.
To ensure that the program is launched in August, Premier Lin Chuan directed government agencies to quickly draw up budgets for their parts of the program, and instructed the Directorate General of Budget, Accounting and Statistics to compile and submit a special budget proposal by late May for the Legislature's review.
For railway infrastructure, the program contains plans to strengthen the entire national rail system in line with green traffic and transportation trends. Plans for aquatic environments include integrating the tasks of water supply, water discharge, flood prevention and water pollution treatment; strengthening land and water resources; and addressing climate change and homeland security needs.
Regarding green energy, the government must increase investments in wind, solar and other renewable energy sources, create a smart power grid, and ensure the reliability of electricity supplies to make Taiwan a nuclear-free country. To make the most of the new digital economy, digital development will focus on bridging the urban-rural digital divide, content development and creating a digital learning environment.
For urban and rural facilities, forward-looking infrastructure projects are intended to provide a foundation for national development for the next three decades, therefore the projects must include basic public infrastructure such as public roads, renewal of old urban areas, community service centers, and culture and lifestyle circles, bringing benefits throughout the nation.
The Forward-looking Infrastructure Development Program will also drive investment of NT$1.78 trillion (US$57.98 billion) by public and private enterprises. Over the program's eight-year term, cumulative investment should thus raise gross domestic product by NT$975.90 billion (US$31.83 billion) while creating 40,000 to 50,000 job opportunities. The program will also provide citizens with comfortable and convenient transport services, a safe environment with strong disaster-prevention and response capabilities, and effective and sustainable utilization of water resources, raising overall quality of life and making Taiwan more competitive.