President Tsai Ing-wen (fifth, right) attends a Lunar New Year reception hosted by the National Association of Small and Medium Enterprises ROC (Taiwan) Feb. 20 in Taipei City. (Courtesy of Presidential Office)
 

President Tsai Ing-wen vowed to continue collaboration with small and medium enterprises in Taiwan to create a promising future for all.

Tsai made the remarks while participating in a Lunar New Year reception organized by the National Association of Small and Medium Enterprises ROC (Taiwan) Feb. 20 in Taipei City.

According to the president, SMEs are a cornerstone of Taiwan’s economy, accounting for 98 percent of its companies and employing nearly 80 percent of its work force. Tsai thanked NASME for its support of governmental policies as it assists and counsels businesses to facilitate their development and innovation.

Tsai said that in recent years, faced with the lofty goal of net-zero emissions and the challenges of the pandemic and the concomitant restructuring of global supply chains, the government remained dedicated to promoting the investment climate through a focus on six core strategic industries and the implementation of the five-plus-two innovative industries plan.

The president added that the government has integrated cross-ministerial resources to advance SMEs, and a five-year budget of NT$95 billion (US$3 billion) has been allocated for enhancing overall competitiveness.

Taiwan has also been expanding trade relations with other economies, Tsai said. In addition to signing trade initiatives or agreements with Canada, the U.K. and the U.S., the country has also continued to implement its New Southbound Policy, enabling domestic corporations to get involved more directly in the global market.

Tsai emphasized that the nation’s economic power has been widely recognized, as evidenced by the fact that major multinational firms have chosen to set up branches and invested in the country. The  president concluded by voicing her full confidence in the people of Taiwan to persistently pursue economic growth and innovation. (POC-E)