Taipei, April 7 (CNA) President Chen Shui-bian encouraged Taiwan industrialists Monday to create new economic advantages, throwing firm support behind the government's economic development policies.
Addressing the Taipei-based Chinese National Federation of Industries Congress, Chen said that Taiwan's industrial sector has performed very well over the past year with an annual output growth of 6.3 percent registered for 2002 and 9.3 percent recorded for the first two months of this year, compared with a negative growth of 7.3 percent for 2001.
Following Taiwan's entry into the World Trade Organization in 2002, Chen said, Taiwan industry's competitiveness can no longer rely on low prices for its products, but must produce creative and quality products.
He encouraged domestic industrialists to continuously introduce new ideas in enterprise operation, manufacturing, marketing and stricter quality control, while applying new technologies to meet the increasing international competition.
The government will offer a series of tax incentives to lure more domestic and international enterprises to set up their research and development centers and operation centers in Taiwan as part of his administration's national economic development plan.
In addition, he said, the government will also organize large-scale trade shows and speed up the revision of related laws and regulations to create a better investment environment to woo more foreign investment.