萬國法律事務所

In order to ensure and preserve the benefits of Taiwan's economy and trade, President Tsai Ing-Wen has announced four economic directives, namely pushing for more local research and manufacturing, accelerating investment aimed at domestic demand, enhancing the power of Taiwan's innovation, and encouraging local firms to target a wider array of countries.

The Taiwan Government will also continue to promote the development and transformation of Taiwan's economy, Premier Lai Ching-Te said.

The Premier further stated that Taiwanese businesses should adopt measures to protect their interests in the face of a looming trade war between the US and China, and added that the Ministry of Economic Affairs and related departments will provide assistance to local Taiwanese firms, assist with shifting supply chains, and encourage Taiwanese companies to redirect overseas investment back to Taiwan.

In connection with these responsive strategies, the Premier advised that the Government will continue to aid domestic enterprises with the upgrade of technology, promotion of the production of critical components, expansion of innovation capabilities, enhancement of technology development, and protection for intellectual property, while carrying out the implementation of the "five plus two" innovative industries plan.

Meanwhile, in order to create more business opportunities related to domestic demand, the Government will expedite the promotion of development initiatives, including the infrastructure development program, energy transformation projects, urban renewal, and social housing construction. Moreover, the Government will strongly promote the New Southbound Policy.