Seeking to advance the transformation and upgrade of Taiwan’s industry and add new momentum to economic growth, the Executive Yuan—in line with President Tsai Ing-wen’s core principles of innovation, employment, and equitable distribution—has made a number of policy adjustments concerning overall national development. This includes the “five plus two” innovative industries plan, which will serve as the central driver of Taiwan’s industrial growth in the next era, and forge a new model for sustainable development.
The plan covers seven industries and projects: intelligent machinery, Asia Silicon Valley, green energy, biomedicine, national defense and aerospace, new agriculture and the circular economy. The focus on these areas is expected to move Taiwan forward from contract manufacturing to a new commercial model centered on high-value-added business, services and solutioning. This shift will stimulate innovation, boost the competitiveness of industry and increase corporate profitability, all the while raising wages, creating jobs and bringing more balanced development to all regions of Taiwan.