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Premier William Lai: Taiwan to become a global hub for biomedical industry

The Ministry of Science & Technology gave a report on the progress on bio-tech and bio-medicine as par of Taiwan's '5+2' industrial innovation strategy

Concept art for Taiwan's National Biotechnology Research Park (Image from Academia Sinica)

Concept art for Taiwan's National Biotechnology Research Park (Image from Academia Sinica)

TAIPEI (Taiwan News) – On March 15, Premier William Lai heard a presentation from the Ministry of Science and Technology of the Executive Yuan on the progress of the nation’s strategy to promote the biomedical industry.

Taiwan’s government plans for biomedical technology to develop into a NT$1 trillion dollar industry over the coming years, which is one of the key industries of the Tsai government’s “5 plus 2” strategy for innovative industrial development.

Taiwan hopes that cooperation between various agencies and private industries in Taiwan will lead to Taiwan becoming a major hub for creating cutting edge medicines and medical technologies.

Taiwan’s Academia Sinica, in cooperation with several government agencies, is preparing to build a National Biotechnology Research Park (國家生技研究園區). After it is completed it will drastically increase the pace of innovation and research in the areas of biomedical science and technology.

Premier Lai was quoted by Liberty Times as saying that developing specialty medicines, and integrating the biomedical industry with other industries, especially smart technology and the "internet of things," will be crucial for Taiwan’s healthcare system moving into the future.

Universities in Taiwan are also being encouraged to expand their programs and investment in fields of medicine and healthcare.

According to Liberty Times, the total growth of the biomedical technology industry in Taiwan was estimated at 3.4 percent last year, which is a promising start for the development of the industry in the first full calendar year of the “5 plus 2” innovation strategy was introduced.