President Tsai addresses BIO Asia-Taiwan 2022
On the morning of July 28, President Tsai Ing-wen addressed the opening of the 2022 BIO Asia-Taiwan International Conference and Exhibition via video. Noting that biotechnology is key to public health and our national development, President Tsai stated that the government has introduced medical tech and precision health as one of six core strategic industries for long-term growth, with the aim of making Taiwan a leader in precision medicine and digital public health solutions. The president expressed hope that by continuing to develop Taiwanese talent, and driving greater international collaboration and investment, we can help the biotech industry reach new heights and improve lives everywhere.
A transcript of President Tsai's remarks follows:
First, let me welcome you all to this year's BIO Asia-Taiwan International Conference and Exhibition. I also want to thank the organizers for their hard work putting together this event.
Since 2019, BIO Asia-Taiwan has given Taiwan an important platform for in-depth international exchange, encouraging innovation while highlighting Taiwan's biotech excellence. With attendees from around the world, it has grown into one of BIO's biggest exhibitions. I want to take this opportunity to congratulate all involved on this tremendous achievement.
The theme of this year's conference is "Connecting the Asian Value Chain." This theme speaks to the growing international competitiveness of Taiwan's biotech sector, as we leverage our ICT expertise to break new ground and take up a critical role in this value chain.
Biotechnology is key to public health and our national development. In 2020, our government introduced medical tech and precision health as one of six core strategic industries for long-term growth. Under this program, we aim to make Taiwan a leader in precision medicine and digital public health solutions. Combined with our world-class medical services and technological expertise, the biotech sector will only rise in importance for Taiwan.
Recent growth suggests a strong outlook. Total annual revenue across Taiwan's biotech firms exceeded NT$700 billion in 2021, growing nearly 10 percent year-on-year. Indeed, during more than two years of this pandemic, the agility and R&D capacity of our biotech sector have been key drivers of our social and economic resilience. From equipment manufacturing, to disease control through AI and big data, to vaccine development, Taiwan has demonstrated our capacity for biotech innovation, and contributed to the global public health response to COVID-19.
With the pandemic highlighting biotech's strategic importance, our government is stepping up measures for industry development. We are building a national database for biomedical big data analysis, and encouraging biopharmaceutical manufacturing. We are revising our laws to promote cell therapy and telemedicine, drawing up new laws to guide the development of regenerative medicine, and setting up a fund to sponsor related research. We are also encouraging the development of biotech talent, while helping domestic firms seize opportunities in emerging fields like digital therapeutics and smart medical devices.
Through cross-sector cooperation in precision medicine and diagnostic services, we are building Taiwan's reputation as a leader in the field. Especially since the outbreak of the pandemic, I have seen firsthand the work being done in our hospitals and clinics, where ICT and healthcare integration is helping us provide better care and saving lives. By continuing to develop Taiwanese talent, and driving greater international collaboration and investment, we can help the biotech industry reach new heights and improve lives everywhere.
Lastly, I want to once again welcome you all to BIO Asia-Taiwan, and wish you a productive conference and exhibition. Thank you very much.