Premier encourages industry leaders to advance social prosperity

Social prosperity requires the support of businesses, and businesses have a responsibility to promote social prosperity, Premier Lin Chuan said today during a conference of leaders of local industry groups.

With Taiwan's economic growth lagging expectations and investments declining to worrisome levels, the government must improve the investment and business environment to encourage continued operations by companies, the premier said. However, authorities must first address the shortage of local resources, particularly in land, water, electricity, talent and labor.

On the topic of industrial transformation, Premier Lin said the government will invest in five key innovative industries�biomedicine, an Asian Silicon Valley, intelligent machinery, green energy technology and national defense.

To create an Asian Silicon Valley, the government will grow a new industry by linking the internet of things and big data with mechanized production. To provide new startups and talents with more room for development, the government will adjust market mechanisms and change business laws such as the Company Act, which is expected to be amended by the Ministry of Economic Affairs (MOEA) by May 2017 to relax regulations and encourage industrial development.

As for precision machinery and national defense, Premier Lin said Taiwan's machinery and materials industries must achieve more technological breakthroughs and join hands with the defense industry. The government will sponsor the domestic manufacture of aircraft and vessels with the aims of obtaining international certification, commercializing and exporting related products, and eventually bringing the industry on par with Japanese and German standards.

On pharmaceutical biotechnology, the premier said Taiwan can use its many achievements in this area to improve the standards of generic drug manufacturing and turn drug development into another promising field for Taiwan. The pharmaceutical biotech industry can also help develop medical supplies by integrating with machinery and other basic material industries.

Turning to recent labor-management issues, Premier Lin said employers and employees should help each other and pursue dialogue for mutual benefit and harmony. By communicating their expectations and needs, the two sides can negotiate ways to overcome problems together. Businesses are a driving force for social progress, and they are expected to fulfill social responsibilities and make their best contributions. The government will work with businesses to advance national prosperity, allowing all of society to share in the profits of businesses.

Today's industry representatives made a broad range of recommendations including domestic manufacturing of aircraft and vessels, amendments of outdated environmental protection laws, awarding of construction bids, recycling of steelmaking slag, and disposal of sewage sludge cake. On hand to respond were officials from the National Development Council, the MOEA, the Environmental Protection Administration, the Ministry of Labor, and the Public Construction Commission.

Source: Executive Yuan