Through targeted national key projects, the Ministry of Transportation and Communications (MOTC) announced plans to invest more than one trillion dollars in transportation technology to stimulate the development of convenient transportation and boost the local economy, while building stronger connections with citizens for a better tomorrow.
The Transportation Technology and Industry Committee was established by the MOTC to respond to changes brought about by rapid technological innovation and promote cross-boundary collaboration among the industry, government and academic research. By strongly linking technology, industry and society together, the committee aims to open up a new future for the transportation technology industry.
In a recent meeting of the Transportation Technology and Industry Committee, President praised the establishment of the said committee which will facilitate closer collaboration between government ministries. In addition to strategies and startup projects outlined in their white paper for short, mid and long-term industrial development, cross-industry infrastructures developed under the DIGI+ (digital national innovation economic development) plan and the 5+2 industrial innovation plan will facilitate industry growth and implementation. Taiwan plans to invest over one trillion dollars to launch the largest governance innovation and industry promotion project, with the greatest number of participants ever from MOTC.
Optimizing transportation with innovative technology for economic take-off
“Transportation infrastructure is an important driving force for Taiwan’s economic take-off, and our strong determination in this will soon yield tangible results,” said Taiwan President. "Looking to the future, every effort will be made to promote smart transportation, rail construction, intelligent seaports, airports and related infrastructures. Taiwan will keep up with the latest technological developments and improve the quality of life for its constituents, transforming the country into a ‘smart transportation technology island’ and garner the attention of the world.”
Over six months, MOTC supervised and gathered feedback from 22 group meetings, nine large-scale seminars and forums, and two committee meetings and conferences. The collated data was presented at the National Transportation Industry Conference and subsequently divided into seven focus areas. After a comprehensive evaluation, decided to invest approximately two trillion dollars over the next ten years, fueling four trillion dollars’ worth of economic output value.
“Taiwan has been moving closer to its vision of becoming a smart nation,” said Ministry of Economic Affairs (MOEA) Minister Shen Jong-Chin as he commented on MOTC’s current endeavors. Taiwan has regained its position as a global high-end manufacturing hub, with rising numbers of Taiwanese companies returning to the country and investments from international high-tech manufacturing firms. “This partnership between MOTC and MOEA will drive services and business opportunities to create a winning situation for the industry,” added Minister Shen.