President Lai Ching-te (賴清德) spoke at the Taipei International Machine Tool Show (TIMTOS) this Monday, highlighting three steps that need to be taken to prepare in the face of a changing political climate.
Lai pointed out that in the past two years, the machine tool and machinery industries have been challenged by the pandemic and geopolitical changes. He likened the situation to a saying that the colder the weather, the more flowers bloom as over 1,000 companies were participating in the exhibition despite such setbacks.
The President outlined three goals to be prepared in the face of the ever-changing international political climate, the first of which is to jointly respond to digital and net-zero challenges. He said this includes introducing AI to optimize processes and reduce costs.
The second of Lai’s goals involves aiming for high value-added industries, of which he said drone development, smart manufacturing, electric vehicles, aerospace, semiconductors, AI, the military, the security industry, low-orbit satellites, and robotics play an important role. He said all developments will need the cooperation of Taiwan’s machine tool and machinery industries to succeed, further elevating Taiwan’s economy and industry.
President Lai’s third goal includes establishing a strong presence in Taiwan and then expanding and marketing worldwide. Through innovation, integration, and international engagement, he said Taiwan can build industrial and global supply chains that contribute to the country’s industrial development, international collaboration, and the promotion of global economic prosperity.
Lai noted that tax breaks, investment deductions, and inclusive finance will assist industries, including the Economic Ministry’s Small and Medium Enterprise Credit Guarantee Fund (SMEG) expansion and project subsidies.