President Tsai's remarks at 2017 Autumn Forum of Asia Business Council
Chairman Nobuyoshi John Ehara of the Asia Business Council;
Mrs. Kayoko Ehara;
Honored guests;
Ladies and gentlemen:
Good evening!
I would like to start by extending a sincere welcome to you all. It has been eight years since the Asia Business Council has held its forum in Taiwan. Quite frankly – and I'm sure you would agree with me – there is no better place to hold this event.
This is because you are not going to find better hospitality. That's why. The venue we are in tonight, the Taipei Guest House, has a storied history. It's normally used for receiving state guests. I guess tonight you're considered our state guests. This is indicative of just how important your visit is to us.
In a sense, this building is representative of Taiwan today. It has a mixture of local, Japanese, and western influences, reflecting both tradition and modernity. Over the years, it is these characteristics that have given rise to Taiwan's dynamism and willingness to adopt new ideas. I'm sure, as business leaders in your respective fields, you know Taiwan well.
For past decades, Taiwan has been known for its economic miracle. It has been a major player in shaping the growth of the Asia Pacific region. Entering the 21st century, Taiwan will continue to play an important role, particularly in the ICT industry.
But we are also conscious of a regional environment that is growing increasingly competitive. Both markets and supply chains in the region are changing rapidly. Taiwan must stay on top of these trends in order to maintain its competitive edge.
Following my inauguration, we have worked to build a new model of economic development for Taiwan. This includes far-reaching domestic reform, as well as increased trade and economic cooperation with our neighbors.
These efforts will help Taiwan become a regional model for next-stage economic development.
Domestic Innovation Initiatives
Domestically, we have an ambitious plan to strengthen our long-term competitiveness. We are working to structurally reform the economy and upgrade our industries.
This is reflected in the "5+2 Industrial Innovation Plan." Our plan is to build up ecosystems for the Internet of Things, smart machinery, green energy, biomedicine, defense, as well as high-value agriculture and a circular economy.
Within this framework, we are bringing in new technologies and innovative ideas that have the potential to change the future of these industries.
For example, we are moving to incorporate new software innovations into our strengths in hardware. This will enable us to better compete in areas such as the Internet of Things and Industry 4.0.
Artificial intelligence is another area of focus. We are looking to establish up to four new AI innovation centers across Taiwan. These centers will train thousands of personnel in AI technologies, while building linkages with the ICT industries.
All of this will create new economic value and inject new momentum into the economy.
At the same time, the passage of the Forward-looking Infrastructure Development Plan by the Legislature is another driving force for economic growth, while providing for the long-term infrastructure needs of Taiwan.
Trade & New Southbound Policy
As we build a new economic model for Taiwan, we are also willing to share our experiences with different countries in the region. This is because as a trading country, we know that Taiwan cannot work alone.
With trade accounting for over 50% of our GDP, it is important for us to find and develop new markets. We see particular promise in South and Southeast Asia.
This is why one of the foremost priorities of my government is the New Southbound Policy. The objective is to work together with our neighbors as long-term partners for growth. We have identified three areas that hold enormous potential for this.
The first is the development of human resources. Technicians, engineers, and R&D personnel are perhaps the most needed in Asia's rapidly growing economies. Taiwan has high-quality vocational and higher education institutions. We are willing to provide more opportunities for students in such fields to be trained here in Taiwan. We believe that these people will be bridges between Taiwan and the New Southbound countries in the future.
We also want to share our industrial expertise with our neighbors. Sharing Taiwan's know-how in the manufacturing, service, and agriculture industries will be of crucial benefit for expanding economies in the New Southbound countries. By forging long-term industrial partnerships in these countries, we will also create further opportunities for cooperation down the road.
The third is Taiwan's SME culture. SMEs are inherently agile, nimble, and flexible. These are the qualities that are of great benefit in today's economy. SMEs can create a large number of jobs and are a way to ensure more even distribution. We are willing to share Taiwan's experiences in the development of SMEs.
In the middle of October this year, we will also hold the Yu Shan forum, inviting experts and scholars from around the world. The objective is to build a platform for broader, substantive exchanges and discussions on our New Southbound Policy.
However, our focus on the New Southbound Policy does not come at the cost of our relations with the world.
In fact, since May 2016, we have worked with many major trading partners to deepen our trade and investment ties. We are also working to make Taiwan a more viable candidate for bilateral and multilateral trade regimes, such as the TPP and the RCEP.
Conclusion
To close, what I want to say is this: Taiwan is reinventing itself. In business terms, we are restructuring ourselves so that we can be better prepared for the future. We are laying stronger foundations for long-term growth.
We invite you, leaders of some of the most prominent companies in the world, to join us along this journey and ensure that Taiwan plays a part in your future investment plans.
The government of Taiwan will give your investments all the help necessary. You have a personal guarantee from the president. I'm confident you won't find a better partner here in Asia.
So again, I would like to welcome all of you to Taiwan. I invite you to experience our dynamic society, robust economy, and noisy politics, as well. And sample some of our local delicacies. I hope that this visit will factor into your decision to choose Taiwan in the future.
Thank you!