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President Ma touts NT$36 billion economic stimulus plan

President Ma touts NT$36 billion economic stimulus plan

Taipei, Nov. 11 (CNA) President Ma Ying-jeou (???) said Wednesday that the government is planning to spend NT$36 billion (US$1.1 billion) over the next nine years under the Productivity 4.0 Project that was introduced in July to improve Taiwan's economy. The new economic development project is aimed mainly at transforming Taiwan's economy from the current efficiency-driven model into an innovation-driven model and encouraging domestic industries to be more competitive terms of product quality rather than price, the president said. Taiwan's industries have a competitive edge in the areas of automation, use of internet combined with electronization, big data, and smart manufacturing technologies, Ma said in a meeting at the Presidential Office with Dr. Christian Ketels, a member of the Harvard Business School faculty at the Institute for Strategy and Competitiveness. These advantages can be integrated into the Productivity 4.0 Project, which is focused on the development of Taiwan's eight main industries, including the information and communication technology, machinery, food and textile sectors, the president said. It is hoped the productivity project will help Taiwan's manufacturing industries record per capita productivity growth of 60 percent over a nine-year period from 2014, to reach NT$10 million by 2024, Ma said. The 2024 per capita productivity target for the service sector is NT$2.3 million, and for the agricultural sector NT$2.5 million, he said. (By Hsieh Chia-chen and Romulo Huang)


Updated : 2021-09-26 17:37 GMT+08:00