October 10, 2018
Transforming Taiwan: Innovative industries and new partnerships
The government aims to drive growth through five major advanced industries — green energy, smart machinery, biotechnology and pharmaceuticals, defense and the development of an Asian Silicon Valley.
The latter involves the development of solutions driven by the “internet of things” and artificial intelligence, and will support technology start-ups.
Initially described as the five pillar industries, Tsai has gone on to include two more industries — high-value agriculture and the circular economy (a regenerative system based on closing and reducing energy and material loops) to create Taiwan’s pioneering 5+2 Major Innovative Industries policy.