TAIPEI (Taiwan News) — Vice President Hsiao Bi-khim (蕭美琴) on Wednesday said the government will work with businesses to help them expand overseas and ensure economic growth benefits more people across Taiwan.
Speaking while meeting winners of the 8th Golden Ship Awards, Hsiao said the government is promoting its “Balanced Taiwan” policy through regional development, support for a wider range of industries, and more opportunities for businesses of different sizes. She said the policy aims to make economic growth more evenly distributed.
The first goal is to reduce regional imbalances, Hsiao said. She said much business activity is concentrated in Taipei, while high-tech industries are centered in places such as Hsinchu, and the government wants infrastructure projects to support growth in more parts of the country.
The second goal is to support a broader range of industries. Hsiao said the country’s economy includes not only high-tech companies but also traditional industries, tourism, services, and food and beverage businesses, all of which should have more opportunities to enter overseas markets.
The third goal is to help smaller companies grow and gain more international exposure. Hsiao said the Ministry of Economic Affairs has introduced programs to support businesses facing challenges.
President Lai Ching-te (賴清德) has also proposed spending NT$100 billion (US$3.1 billion) over eight years to help small and medium-sized businesses strengthen their operations and expand abroad, Hsiao said. She said the funding is intended to improve their competitiveness and help more Taiwanese companies reach international markets.
Hsiao also said the government is promoting artificial intelligence through its “Ten AI Initiatives Promotion Plan,” which focuses on AI infrastructure, technology development, talent cultivation, and wider industry adoption. She said the program is intended to help businesses across different sectors use AI and become more competitive.
Hsiao said strong economic growth should lead to better lives for people. She noted that the economy grew by more than 14% in the first quarter and said the government is also expanding long-term care and support for children and young people so that more people can benefit from economic progress.
Hsiao said stronger businesses would help build a more resilient economy. She added that the government will continue working with business groups to help companies of all sizes reach overseas markets and raise Taiwan’s international profile.
