Taipei, Sept. 3 (CNA) President Chen Shui-bian announced Friday that the government will donate an additional NT$50 billion (US$1.38 billion) to the Small and Medium Business Credit Guarantee Fund (SMBCGF) over the next five years.
Addressing the award presentation ceremony of the 12th National Awards of Small and Medium Enterprises and the fifth National Awards of Overseas Taiwanese Businesses, Chen said that small- and medium-sized enterprises (SMEs) form the main force in creating the so-called Taiwan economic miracle. They account for 97.72 percent of Taiwan enterprises in terms of numbers and offer 78 percent of the country's job opportunities, he explained.
The government will donate NT$10 billion each year in the next five years to the SMBCGF to increase the capital supply for SMEs and to further consolidate their development, Chen noted.
Chen encouraged the SMEs to join government efforts in improving the country's economy. More than one year after the government launched its six-year national development plan, "Challenge 2008," he said, more than 10 multinational enterprises have decided to establish their research and development centers in Taiwan.
It is expected that some 250 Taiwan businesses will set up their operational hubs in Taiwan by the end of this year, Chen added.