Thursday, July 21, 2016

Taiwan is accelerating its shift to new technologies – Les Echos

Two months after his inauguration, Tsai Ing-wen, the new president of Taiwan, is determined to transform the island’s economy by placing it more in the world of new technologies. For this, it has set a roadmap in five points. Starting with the strengthening of defense. This sector benefits from “great potential for development” says Cheng Wen-tsan, mayor of Taoyuan, Taiwan’s fourth largest city. In addition to R & amp centers; D already installed, the island “looking to buy overseas technology and is open to cooperation that should benefit the economy. It is essentially IT, telecom and aerospace “, says the elected official who is also a leader of the Democratic Progressive Party, the ruling party.

The new president also wants to focus on biotechnology and medicine, particularly by encouraging the citizens to return to Taiwan parties create their structures abroad. “We want to become a biotechnology center” says Cheng Wen-tsan. A place is also reserved for energy and clean vehicles. Finally, a major project of high-tech industrial park, the “Asian Silicon Valley”, should be born in Taoyuan, near the international airport of Taipei and Hsinchu Industrial Park. This proposed “Asian Silicon Valley” will extend over 21 hectares and will be devoted primarily to the connected objects. It “will change the fate of Taiwan” , said recently Prime Minister Lin Chuan, visit the future site. This new industrial park “will be a catalyst for the transformation of Taiwan ‘, he said.

Booster economic growth

The park, which should accelerate the shift to high-tech, must equally boost economic growth to less anemic. The Asian Development Bank has, once again, to revise downwards its forecast for 2016 GDP growth would be only 1.1% instead of 1.6% expected previously, a level should be achieved by 2017. For this year, Taiwan is behind other former tigers: South Korea is expected to reach 2.6%, Singapore 2.2% and Hong Kong 1.5%.

This amid heightened tension with mainland China. The first effects are felt with mainland Chinese tourists, according to the Ministry of Relations with the mainland in May and June, the number of travelers from Taiwan decreased by about 15%. A slowdown that will delight Taiwanese citizens, somewhat tired of the hordes of mainland China. Moreover, the government itself is about to reduce reached 50,000 per month, instead of the 150,000 previously authorized.

Michel De Grandi, Les Echos

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