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Taiwan targets 4.8% economic growth in 2010

Taiwan targets 4.8% economic growth in 2010

Taipei, Dec. 31 (CNA) The Cabinet approved Thursday its national development plan for 2010, setting the target for economic growth at 4.8 percent.
In addition, the government aims to achieve per capita Gross Domestic Product of US$17,541, lower the unemployment rate to 4.9 percent, and keep the inflation rate at below 1 percent.
Premier Wu Den-yih instructed the relevant authorities to remove barriers to private investment, boost the development of the six industries designated as strategic, and encourage the private sector to participate in public construction projects to help the government attain its goals.
The authorities should also enhance the execution of public construction projects and implement measures to boost employment, Wu said.
According to the plan, the three main policy themes for 2010 are promoting economic prosperity, improving the quality of life and making a commitment to environmental sustainability.
In terms of promoting economic prosperity, the government will seek to stimulate private investment by measures such as regularly tracking the progress of major investment projects and setting up special task forces to push for the realization of major projects.
The government will also carry out industrial reforms by developing the six strategic industries, assisting the development of the information and communication technology industry, and encouraging the adjustment of industrial structures.
There will also be measures to strengthen Taiwan's global connections, such as promoting the signing of an economic cooperation framework agreement with China, introducing projects aimed at bridging industries on the two sides of the Taiwan Strait and exploring opportunities in emerging markets such as India, Russia, Brazil and the Middle East.
In addition, the government will improve Taiwan's business environment by promoting deregulation of the six strategic industries and the services sector, reviewing financial regulations and simplifying the processing of land development projects.
It will also step up measures to boost employment by expanding the salary subsidies program for private employers and increasing government hiring, with the goal of creating at least 100,000 jobs in 2010.
In terms of improving the quality of life, it will introduce affordable housing projects, continue to provide assistance to young people to help them buy their own homes and promote a baby-sitting subsidy program.
The government will enact a law to govern long-term care services, reform the pension system and will study a reverse mortgage program for seniors.
There will also be emergency aid for those in need, assistance for disadvantaged families, school vouchers for children attending private kindergartens, child-care and education subsidies for low- and medium-income households and kindergarten subsidies for indigenous children.
In terms of measures to ensure environmental sustainability, the government will speed up post-Typhoon Morakot reconstruction, step up the prevention and control of swine flu, continue to promote the "i-Taiwan 12 projects, " work out a strategy for homeland development, enact a law on greenhouse gas reduction and amend the energy management law.
(By Chiachen Hsieh and Y.F. Low)




Updated : 2021-05-07 03:16 GMT+08:00