On the morning of October 30, President Tsai Ing-wen addressed the opening of the Taiwan International Assembly of Space Science, Technology, and Industry (TASTI). President Tsai said that our government is making concerted efforts to create a favorable environment for the development of space industry in Taiwan, and that the budget, legal frameworks, and infrastructure for the development of this industry have gradually fallen into place. She also stated that Taiwan will play its part in the development of the space industry, and that we welcome businesses and experts from all over the world to come to Taiwan and work with us to build a more complete space industry chain.
A transcript of President Tsai's remarks follows:
This month, Taiwan's first domestically produced weather satellite, it's called Triton, was successfully launched. This represents a significant step for Taiwan's aerospace industry and a very valuable contribution to global meteorological observation and scientific research.
And today marks the opening of the first Taiwan International Assembly of Space Science, Technology, and Industry, the most comprehensive international event in this field held in Taiwan. This gathering has brought together experts and scholars from more than 15 countries, as well as industry representatives, reflecting the importance that the space industry holds for people from all walks of life.
The space industry requires the most cutting-edge technology. The launch of Triton has proven that not only does Taiwan possess strengths in semiconductors and precision manufacturing, but it also has what it takes to make a mark on the global space industry.
Our government is making concerted efforts to create a favorable environment for the development of this industry in Taiwan. We have enacted the Space Development Act and upgraded the National Space Organization to the Taiwan Space Agency, an independent administrative corporation.
The third phase of our National Space Program began in 2019 with an investment of approximate NT$25 billion over 10 years. Now, we are committing over NT$40 billion more, to fund low-orbit communication satellite research, and to plan a national launch facility, as well as nurture talent for the space industry.
The space technology industry has been included in our government's Six Core Strategic Industries policy. Through the establishment of national research institutes in key fields, we are attracting the talent the industry needs. We are also continually strengthening the partnership between the government and the private sector, to bring Taiwan in line with the most advanced international research and technology.
In 2017, Formosat-5 was launched, showcasing Taiwan's ability to develop space satellites domestically. In 2019, the constellation of six Formosat-7 satellites was deployed, further demonstrating Taiwan's space technology. And now, the launch and orbit of the Triton satellite have shown the world that Taiwan can operate a large-scale research system.
The budget, legal frameworks, and infrastructure for the development of Taiwan's space industry have gradually fallen into place, resulting in a total industry output of over NT$200 billion to date. By 2025, we anticipate an increase of at least NT$80 billion, taking this output to nearly NT$300 billion, which is close to US$10 billion.
I also want to take this opportunity to say to our friends from around the world that, Taiwan will play its part in the development of the space industry. We welcome businesses and experts from all over the world to come to Taiwan and work with us to build a more complete space industry chain.
I believe this conference will foster greater cooperation and more exchanges. I want to thank all the distinguished guests for being here today, and wish you all a successful conference.