Taiwan has plans to transform and upgrade its small to medium size enterprises. That’s the word from President Tsai Ing-wen on Tuesday.
Tsai said 97 percent of Taiwan’s businesses are small to medium size companies and about 80 percent of Taiwan’s working population have jobs at these companies. Those firms are the main pillar of Taiwan’s economy. She said as long as Taiwan takes care of the SMEs, they will in turn take care of Taiwan.
The president said Taiwan was able to stabilize its economy for the last year despite the COVID-19 pandemic. Taiwan has seen positive growth in its export orders in the last 11 months up to January. Tsai said the economy is likely to grow at more than 4% this year. However, with the pandemic still ongoing and with changes in the international environment, Taiwan still faces many challenges but the government will use all its efforts to help SMEs transform and upgrade to overcome the challenges.
Tsai said she hopes to combine the efforts of the government, industries, academics and research teams to digitize the SMEs using AI and smart production. The aim is to help the enterprises move towards digital marketing and sustainable operation.