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Mao urges MOEA to provide policies for economic growth

Mao urges MOEA to provide policies for economic growth

Premier Mao Chi-kuo urged the Ministry of Economic Affairs (MOEA) on Thursday to come up with new policies and strategies as Taiwan’s economy is being faced with new challenges.

After following the reports on “the current economic status” presented by the National Development Council (NDC) and “new export transformation strategy” by the MOEA, Mao said Taiwan’s overall economic monitoring indicator has been yellow-blue since April, indicating that the economy shifted down to a relatively modest growth track.

The NDC uses five colors to measure domestic economic health: red indicates serious overheating; yellow-red, slight overheating; green, steady growth; yellow-blue, slowdown; and blue, recession.

The MOEA urged the need for Taiwan to attract more direct foreign investment in order to help transform its export structure, whose output would also help fuel the domestic product and services. Mao has since asked the ministry to carry out plans for action.

In its report, the ministry said it already has plans to help businesses in several key sectors, notably the Internet-of-Things (IoT), Cloud services, smart city, and big data.

Updated : 2021-09-26 23:06 GMT+08:00