Taiwan’s Cabinet has announced the launch of the “Productivity 4.0 Plan”, with the goal of boosting industrial output. The plan focuses on reforming Taiwan’s manufacturing, agricultural, and service industries. It’s set to run through 2024 with a budget of NT$3.6 billion.
Premier Mao Chi-kuo said on Thursday that Taiwan needs to work to innovate and transform its industries. He said that in order to maintain a competitive edge in the international community, what’s needed is a good command of key technologies.
Meanwhile, Economics Minister John Deng said Taiwan will take advantage of its strengths in information and communication technology. He said that includes implementing tools such as the Internet of Things, big data, and automation, to boost productivity. Deng said the hope is that the plan can help cultivate new types of industry.