Taipei, Oct. 15 (CNA) Vice President Annette Lu said Wednesday that Taiwan's economy was gaining strength and encouraged businesses to remold the saying "made in Taiwan" to "invented in Taiwan."
Lu made the remarks while giving a speech at the inauguration of the Taiwan Optical Information Storage Technology Association (TOISTA) , comprised of over 80 information industry-related companies, including leading firms such as CMC Magnetics and RITEK.
Lu said Taiwan will regain its economic footing internationally, citing figures that she said indicate that Taiwan's economic recovery is already underway. Taiwan posted an economic growth rate of 3.6 percent for 2002, ahead of the United States' 2.4 percent, Singapore's 2.2 percent and the world's average of 2 percent.
Taiwan also sits on the world's third-largest foreign exchange reserves and enjoys a strong competitiveness in terms of technological development potential, its macro-economy, investment climate and export growth, she added.
The vice president said she had high hopes for the association, encouraging it to pool the wisdom of the government, academic and research sectors to help transform Taiwan into an innovation-oriented country capable of creating its own brands, instead of just being a contractor. She stressed that the logo "made in Taiwan" should be upgraded to "invented in Taiwan."