Taiwan's Cabinet Sees Biotech As Key to Economic Growth
August 26, 2015| |
A wide-ranging development plan that will target Taiwan's biotechnology-based economy is set to kick off in 2016, according to Premier Mao Chi-kuo. At a briefing hosted by the Office of Science and Technology on August 19, 2015, he said that the new 10-year initiative will help expand the local bioeconomy to NT$4 trillion (US$123.2 billion) in 2026.
The new plan outlines a new economic development path that spans agricultural, health, and industrial sectors as the nation readies for an aging society. It will be a collaboration among the Council of Agriculture and Ministries of Economic Affairs, Health and Welfare, and Science and Technology, and aims to further biotech innovation, internationalization, and servitization. It supersedes the existing Diamond Action Plan for Biotech Takeoff and Action Plan for Biotech Industry.
The Premier added, "We have high hopes for the initiative and are confident it will strengthen the biotechnology sector while assisting local businesses and bolster competitiveness in the global marketplace."
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