October 17, 2005
The Industrial Development Bureau has selected seven traditional industries for which it will provide special assistance in exploiting high technology techniques and materials to bring greater value to their products. The bureau predicts that the combined production value of these seven sectors will surpass
NTD 1 trillion in 2006.
With so much attention focused on Taiwan's high technology companies, it might be easy to overlook the nation's traditional industries. However, taken as a whole this sector continues to play a vital role in Taiwan's economic development.
The seven sectors chosen by the IDB are the high-tech textiles industry, health and performance foods and body care products industry, high-tech materials industry, optoelectronics and electronics chemical products industry, light metals industry, high-efficiency electric vehicles industry, and sporting and recreational goods industry.
The combined production value of these seven industries hit
NTD 846 billion in 2004. This value is expected to rise to
NTD 954 billion in 2005, surpass the trillion NT dollar mark in 2006 and reach
NTD 1.2 trillion in 2007.
The cosmetics and body care products sector has invested hundreds of thousands of NT dollars over the last two years to conduct research in such high-tech areas as nanotechnology, biotechnology and basic materials. This sector is forecast to achieve an annual production value of
NTD 40 billion by 2008.
The production value of the high-tech textiles industry hit
NTD 150 billion in 2004 and is expected to reach
NTD 250 billion in 2007.
In addition to developing electric scooters and electric carts and wheelchairs, the electric vehicles industry has been pursuing
R&D on electric recreational vehicles such as electric off-road vehicles. This sector posted a combined production value of
NTD 151 billion in 2004 and is forecast to achieve a value of
NTD 252 billion by 2007.
(United Daily News)
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