This year, Taiwan’s economy is expected to outstrip all of the other so-called “Four Asian Tiger” economies—Hong Kong, Singapore, and South Korea.
On Friday, President Tsai Ing-wen said that Taiwan’s economy grew by 3.33% during the third quarter, despite the ongoing COVID-19 pandemic.
Tsai said that as experts predict that Taiwan’s economy will outperform its fellow “Asian Tigers” this year, Taiwan must capitalize on its economic achievements and place itself in a vital position in the international market. She said she hopes that Taiwan will continue to distinguish itself in various industries worldwide.
The president said that she wants a renewed focus on her administration’s industrial innovation initiative. Under that program, the government places a priority on the development of artificial intelligence, technology, green energy, medicine, the defense sector, agriculture, and the circular economy.