The 2019 National Development Plan was approved by the Cabinet Dec. 20, charting the course for Taiwan’s continued prosperity amid global trade uncertainties and rapid expansion of the digital economy.
 
Proposed by the National Development Council, the plan is built on four main pillars: creating a secure and prosperous living and working environment; promoting sustainable population growth; ensuring balanced regional development; and safeguarding national security and expanding international engagement.
 
According to the NDC, rising global concerns such as fallout from the U.S.-China trade dispute are causing the downward revision of forecasts for major economies around the world.
 
The plan is aimed at helping the country weather potential negative impacts by boosting domestic demand and innovation capabilities, the NDC said. This will be achieved through strengthening employment, inbound investment and infrastructure development, as well as facilitating industrial R&D and structural reform.
 
Several new policy priorities are outlined for next year. These include encouraging more homebound investment from Taiwan firms operating overseas; proposing a national place-making strategy to foster community-level transformation and rejuvenation; turning Taiwan into a Chinese-English bilingual country by 2030; as well as fast-tracking amendments to and enactment of legislation covering economic immigration, innovation and urban renewal.
 
The plan also details measures to advance the implementation of existing initiatives such as the Forward-looking Infrastructure Development Program, sustainable tourism and tax reform, as well as the compilation of a national evaluation report required for EU General Data Protection Regulation adequacy.
 
According to the NDC, the strategy sets key performance indexes to gauge the effectiveness of related efforts. Particular attention will be paid to those in areas with a direct bearing on public welfare such as air pollution controls, food safety, and daycare and long-term care services, the council said.
 
It is expected that the plan will boost Taiwan’s per capita gross domestic product by between 2.4 and 2.6 percent, with the unemployment rate hovering at around 3.6 percent and the consumer price index capped at 2 percent, the NDC added.
 
Passed by the Legislature in July 2017, the eight-year FIDP includes projects spanning railway development, digital infrastructure, aquatic environment, food safety, green energy, boosting birth rates and child care facilities, and fostering talent and employment. (SFC-E)