Technology, innovation to be industrial growth engines: premier

Premier Lin Chuan (林全) said Wednesday that Taiwan is striving to stay on top of the latest trends in industrial development and is aiming to achieve industrial growth through the use of technology and innovation.

Speaking at the closing ceremony of the National Science and Technology Conference in Taipei, Lin said Taiwan’s industrial development is faced with many challenges, including an exodus of companies, wage stagnation and a growing income gap.

Job opportunities are also shrinking, due mostly to a drop in domestic investment, which in turn can be attributed to a dearth of value-added industries, he said.

These are challenges that have existed in Taiwan for the past 20 years, Lin told the government officials, scholars and industry representatives who attended the three-day conference.

However, if Taiwan can stay on top of the latest trends, namely e-commerce, online banking, Internet of Things, smart machinery and biotechnology, it will be poised for strong industrial growth as these are “the industries of the future,” Lin said.

By using technology and innovation to add value to its industries, Taiwan will achieve industrial growth, he said.

This approach includes pushing for industrial innovation, advancing digital economic development, cultivating talent in digital economy and other related fields, and creating an environment conducive to technology research and development, he said.

Lin said the input of the participants at the conference and the conclusions reached will serve as reference for the government in drafting a plan for the country’s technological development over the next four years.

After the closing ceremony, Minister of Science and Technology Yang Hung-duen (楊弘敦) told reporters that his ministry will compile a report, based on the conclusions of the conference, and will submit it to the Cabinet for approval, after which it will be used as reference for the ministry’s budget planning in the next few years.

The conference, held every four years, discussed topics that included innovation as the momentum for economic development, smart life technology industries, talent cultivation and an innovative ecosystem of science and research.

Source: Focus Taiwan News Channel

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