TAIPEI (Taiwan News) — President Lai Ching-te (賴清德) said in a speech on Sunday that he plans to raise the minimum wage in 2026 to NT$30,000 (US$955). 

Lai was speaking before the Junior Chamber International at the organization’s 74th annual inauguration ceremony for its president and board of directors. He outlined his plans to support private businesses and entrepreneurs to ensure a stable and vibrant economic outlook for the country, reported UDN.

In his New Year's address, the president emphasized that promoting economic growth and innovation is a major policy priority for the coming year. His promise to further increase wages this year comes days after the minimum wage was increased to NT$29,500 (US$940) on Jan. 1, marking 10 years of consecutive increases. 

The central government has allocated a budget of NT$ 93 billion (US$2.9 billion) to assist small and medium-sized enterprises in recovering from the pandemic and ensuring financial and employment stability amid global market uncertainty. Lai said that negotiations with the US to reduce Trump’s tariffs are in their final stage, with many positive developments.

The president also promised to work hard to stabilize the currency against the US dollar while also adopting a loose interest rate, per UDN. Lai said the government will provide strong support for businesses as Taiwan navigates a digital transformation and works toward a net-zero future.

The government is preparing to meet the challenges of the AI era with a talent cultivation plan involving a national computing and data center. The goal is to develop a robust talent pool of 500,000 workers skilled in AI technology and applications by 2040, per UDN.

Lai envisions Taiwan as a global powerhouse for producing AI-driven software and related technologies, which will also benefit Taiwan’s small and medium enterprises at home and abroad.