At a breakfast meeting with the Chinese National Association of Industry and Commerce today, Premier Mao Chi-kuo pointed out that the global economy recovered its momentum in 2014, while Taiwan's exports expanded significantly and consumption grew as the government launched various policies.
It is estimated that Taiwan's economic growth rate in 2014 was 3.43 percent, which would be the highest in recent years. Looking to the future, the global economy is anticipated to continue to rise thanks to the stable growth in the United States, and therefore the Directorate-General of Budget, Accounting and Statistics has forecasted Taiwan's economic growth in 2015 will rise to 3.5 percent. However, there are several variables that could influence growth, and the government will pay close attention to those factors and respond appropriately, the premier pledged.
Mao said that his major tasks since taking office include helping young people build their careers, creating business opportunities for enterprises, providing care and support for the elderly, and establishing a supportive environment for the disadvantaged to live with dignity. The former two, he emphasized, are crucial for sustaining the nation's future economic growth.
Regarding the creation of opportunities for enterprises, the premier pointed out that creativity is required to spur progress on the transformation and reorganization needed by domestic communications and technology industries. Therefore, the Executive Yuan has integrated several ministries' strength to establish the Innovation and Entrepreneurship Policy Board. Led by Vice Premier Chang San-cheng, the board focuses on social innovation, youth startups, international connections, and creating a friendly environment for innovation and entrepreneurship so as to accelerate the forming of cluster effects and strengthen relevant incubation.
To help young people develop careers, the government will establish two platforms targeting social innovation and youth startups, the premier pointed out. The first platform will integrate Start-Up Taiwan!, a website formulated and established by the Ministry of Education and Ministry of Economic Affairs (MOEA). The new platform will specifically target small and medium-sized enterprises and serve creative young people who wish to start a business.
In addition, the government will promote a startup service flagship store, a one-stop base for startup services, to create an environment and channel for people who wish to start a business. The store will primarily target the domestic market.
The second platform is aimed at linking with the international market by implementing the HeadStart Taiwan program promoted by the National Development Council. The plan takes Taipei Expo Park as its preliminary base. Furthermore, the government is planning to set up a Taiwan innovation center in the U.S.'s Silicon Valley. It is hoped that this center will help link Taiwan with trends in the global innovation economy.
Aside from the innovation center, the government is also planning to establish a Taiwan Silicon Valley high-tech fund, to be funded jointly by the private sector and the government, the premier pointed out. It is hoped that this fund will help link Taiwan directly with Silicon Valley for knowledge and human resource exchanges, and thus establish Taiwan's investment network there.
Mao also tasked the MOEA to expedite completion of draft amendments to the Company Act so as to institute a sound investment environment for innovation and startups.
In recruiting talent, Premier Mao stated that the government will change from its past passive talent-retention measures to the implementation of proactive recruitment strategies. He reiterated that talents should be measured on the basis of the startup opportunities they would bring through innovation, not the revenue they would produce.