Taiwan needs to push for a comprehensive industrial upgrade to maintain its competitiveness and deal with economic challenges from other Asian countries. That’s the word from National Development Council Minister Kuan Chung-ming in a media interview on Friday.
Kuan said the economy is moving forward amid a better global market outlook. But he said despite his personal optimism, Taiwan’s current industrial structure remains worrisome.
Kuan noted that the government’s economic indicator shows stable growth. But he said that Taiwan’s lack of an industrial upgrade could dull its competitive edge. He said more innovation is needed for the manufacturing sector, especially in the wake of increasing demand for mobile devices.
Kuan said consumers want better and smarter electronic devices, and Taiwan cannot depend solely on high productivity to meet their needs and beat the competition.
Kuan urged the Cabinet and the legislature to work together for higher government efficiency, calling also for transparency in policymaking so that the public can participate.