Taiwan: President to unveil 'golden decade' blueprint in New Year message

Taiwan: President to unveil 'golden decade' blueprint in New Year message

President Ma Ying-jeou will unveil the economic development blueprint for Taiwan's coming "golden decade" in his 2011 New Year Day message, Vice President Vincent Siew said today.

The Council for Economic Planning and Development and the Chung-Hua Institution for Economic Research have been working on the project since April, when Ma first put forth the vision of creating a "golden decade" for Taiwan should the economic cooperation framework agreement with China be signed, Siew said while giving a lecture on the issue as part of a high-level leadership course for civil servants. The landmark trade pact was signed in June.

"The dish is ready with all the ingredients cooked. What is left is how to package it before it is served on the table," Siew said.

According to the vice president, the economic development plan for the coming decade should address issues such as Taiwan's recent economic status, the international economic situation, domestic concerns and the national vision for 2020.

He said Taiwan's economy has come to a bottleneck where adjustment is needed in the country's industrial structure and human resource development strategy. Other problems faced by Taiwan also include the greying population and the widening gap between the rich and poor, he added.

Contract manufacturing now forms the mainstay of Taiwan's industrial sector, which lacks its own brands and core technologies, he noted. Furthermore, Taiwan's export sector over-relies on machinery and intermediate products such as electric parts and components, and the service sector is plagued by a lack of international competitiveness, according to Siew.

The vice president proposed the government inject more resources into development of the service sector, which can generate three times as much added value as the manufacturing sector.

Updated : 2021-02-25 13:39 GMT+08:00