Vice President William Lai says Taiwan must diversify its economy, investments, and renewable energy sources to thrive in a post-pandemic world. Lai was speaking during an international summit on Wednesday.
Lai said that the COVID-19 pandemic has altered people's lives and consumption patterns, and Taiwan needs to embrace this. He said that there are already plans in place to develop the high-tech and semiconductor manufacturing fields, as well as green energy.
Lai said that Taiwan must also strengthen trade links with the United States and Europe, fight for recognition in international organizations, and promote investment programs. These programs have already accumulated over NT$1.2 trillion, which could lead to over 100,000 job opportunities.
In addition, Lai said that Taiwan must get on board the global movement to reduce carbon emissions and nuclear energy or risk being left behind. He said that this could be promoted by encouraging the development of zero-emission business models, which fit with Taiwan's goal for carbon neutrality by 2050.
With rising international tensions, many foreign companies are choosing to build their research and development centers in Taiwan instead of China. Lai is encouraging Taiwanese entrepreneurs abroad to return home and collaborate with these international companies.