President Tsai Ing-wen said Feb. 25 that the government is continuing to strengthen Taiwan's indigenous defense industry and assist local firms grow their global footprint.
The national defense industry is the bedrock upon which Taiwan's security is founded, Tsai said. It is also a strategic sector providing significant growth for the economy and spurring talent cultivation in related disciplines, she added.
According to Tsai, the government is leaving no stone unturned in promoting technology cooperation and transfers so Taiwan companies can sharpen their innovation and manufacturing capabilities.
Tsai made the remarks during a meeting with homegrown contractors taking part in government-initiated indigenous naval shipbuilding projects in Kaohsiung City, southern Taiwan.
Under the national defense component of the government's five-plus-two innovative industries initiative, Tsai said equipment procurements, refurbishments and upgrades are creating tremendous business opportunities for the country's firms in areas spanning electrical engineering, machinery and materials.
A key plank in the government's national development strategy, the initiative also targets the high-growth sectors of biotechnology, green energy, smart machinery and Internet of Things, as well as two core concepts: the circular economy and a new paradigm for agricultural development.
Tsai said at a time when the global shipbuilding industry is under pressure, the government's tendered naval construction projects are expected to stimulate output of NT$40.5 billion (US$1.32 billion) in related sectors.
Additional bids set for release by the coast guard and navy will maintain this momentum, Tsai said, adding that these should generate even more high-quality jobs and cross-industry opportunities while keeping Taiwan moving along the road to greater prosperity.
Source: Taiwan Today