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When technology and sports meet: smart sports on the rise
Discover how Taipei’s sports scene is embracing cutting-edge technology, from VR cycling experiences to AI-driven badminton training. Explore how the ’Sports Everywhere’ Project aims to revolutionize the sector with NT$4.6 billion investment.
2024/02/19 08:00
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TSMC’s new Japan Plant ignites local economy and nightlife
The opening of TSMC’s new plant in Kikuyo, Japan, has revitalized the local economy and nightlife, with customers spending up to 1 million yen daily. The community’s transformation has garnered international attention, boosting sales in various industries and reshaping Kumamoto’s nightlife. TSMC’s significant investment in the project is expected to increase production capacity and potentially lead to the establishment of additional factories in the area.
2024/02/17 14:33
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Tsai Ing-wen touts Taiwan’s NT$2.17T investment success
President Tsai Ing-wen highlights the success of Taiwan’s investment incentives projects, which have attracted over NT$2.17 trillion in investments and created over 140,000 jobs. Speaking at a Lunar New Year event, Tsai emphasizes the importance of Taiwanese businesses in driving economic development and emphasizes Taiwan’s global reach and reliability as an international partner. She also discusses Taiwan’s efforts to improve infrastructure and expand external relations, including trade cooperation with the U.S. and U.K. Tsai calls for the preservation of the peaceful and stable status quo in the Taiwan Strait and expresses a commitment to upholding democracy and seeking cross-strait dialogues. The event was attended by government officials and over 300 Taiwanese businessmen living and working in China.
2024/02/16 16:38
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TSMC expands in Japan with 2nd wafer plant slated for 2027
Taiwan Semiconductor Manufacturing Company (TSMC) has announced that its Japan subsidiary, JASM, will construct a second wafer fabrication plant by the end of 2024. The plant is expected to be operational by the end of 2027. With support from the Japanese government, TSMC plans to begin production at its first JASM wafer fabrication plant in 2024, with a total investment exceeding US$20 billion. The construction of the second plant is driven by increasing customer demand. The expansion aims to optimize JASM’s cost structure and supply chain efficiency, resulting in increased production. Once both plants are operational, JASM’s Kumamoto wafer fabrication plant will have a monthly capacity of over 100,000 12-inch wafers. The Japan fab will offer process technologies ranging from 40nm to 6nm, catering to automotive, industrial, consumer, and high-performance computing applications. TSMC also mentioned that capacity planning can be adjusted based on client requirements. The Kumamoto wafer plant is expected to create more than 3,400 high-tech professional jobs.
2024/02/07 14:37
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Workers anticipate year-end bonuses as Lunar New Year nears
As the Lunar New Year approaches, Taiwanese employees await their year-end bonuses, a significant indicator of corporate success and economic health. The bonuses, reflecting the highest salaries in eight years, vary across industries, with a focus on financial planning and investment.
2024/02/02 17:00
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Taiwan eyes stronger ties with UK post-Brexit
Following the United Kingdom’s departure from the European Union (EU), Taiwan’s representative to the UK, Vincent Yao, stated that Brexit has allowed the UK to establish closer economic ties with Taiwan, potentially helping Taiwan resist China’s attempts to isolate it. Taiwan is also increasingly investing in the UK, with the goal of becoming the UK’s primary trading partner in Europe. Additionally, strengthening UK-Taiwan trade relations could benefit the UK by providing access to Taiwan’s key industries, such as semiconductors. The bilateral relationship between Taiwan and the UK is reflected in the increase of UK government officials posted to Taiwan and the expansion of the UK office in Taipei. Collaboration between the two countries extends to areas such as artificial intelligence, offshore wind power, and electric vehicle batteries. However, there is still room for further development in bilateral cooperation.
2024/01/30 12:41
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TSMC plans second Japan plant: A tech giant’s expansion
Taiwan Semiconductor Manufacturing Company (TSMC) is considering constructing a second facility in Japan’s Kumamoto Prefecture, with an announcement expected in February. The new facility is projected to attract an investment of around two trillion Yen, roughly NT$421.6 billion. TSMC’s first plant in Kumamoto is nearing completion, indicating a significant expansion of the Taiwanese company’s operations in Japan. Industry analysts speculate that this development, along with the completion of TSMC’s first plant, could attract more semiconductor-related industries, including those from Taiwan, to Kumamoto. The new plant is expected to produce semiconductor products ranging from 7 to 16 nanometers. TSMC currently holds the tenth position in the list of 2023’s top global companies by market value, with a valuation of $53.498 billion, or about NT$1.67 trillion, according to UK-based financial services provider City Index.
2024/01/29 11:38
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Taiwan announces budget surplus for 7th straight year
Taipei’s Executive Yuan Spokesperson, Lin Tze-luen, announced a budget surplus for the 2023 fiscal year, attributing the achievement to the combined efforts of civil society and the government. The surplus will be allocated responsibly to maintain fiscal discipline, primarily focusing on debt reduction and infrastructure investment. Taiwan’s economy has experienced consistent growth, resulting in a budget surplus for seven consecutive years. In 2022, the surplus reached an impressive NT$500 billion, leading to a proposed special budget of NT$380 billion. This special budget aims to enhance economic and social resilience, with provisions such as a cash payment of NT$6,000 per citizen, support for labor and health insurance programs, and assistance for Taiwan Power Company. Additionally, the special budget includes programs to aid residential loan holders from the middle class and below. Lin emphasized the government’s commitment to considering public opinion and promoting national affairs to facilitate Taiwan’s sustainable development.
2024/01/25 16:34
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Natixis: Taiwan’s economy set for growth amid 2024 election
The upcoming Taiwan presidential election is expected to have a significant impact on the country’s economic growth, according to a research report by France’s Natixis Corporate and Investment Banking company. The report suggests that regardless of the election outcome, Taiwan is poised for economic growth, with the consumer and tech industries leading the way. The research predicts that economic growth could increase from 1.2% in 2023 to 2.9% in 2024. While candidates share similar social and labor policies, the report highlights the major differences in their positions on industrial and energy areas, as well as Taiwan’s economic relationship with China. The report also mentions the potential role of Taiwan People’s Party (TPP) candidate Ko Wen-je in triggering legislative instability. The incumbent Democratic Progressive Party (DPP), leading in polls, is expected to continue pushing for diversified trade and investment policies, shifting focus from China to the U.S. and other Asian regions. However, achieving these targets may be challenging as Taiwan has missed out on regional trade and economic agreements such as RCEP, CPTTP, and the U.S.-led IPEF. If the Kuomintang (KMT) wins the election, they might seek closer trade and investment links with China by expanding the Economic Cooperation Framework Agreement (ECFA), according to Natixis.
2024/01/06 17:16
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Cynthia Wu sheds ’Princess’ label, eyes Taiwan’s work reform
Taiwan People’s Party (TPP) vice-presidential candidate Cynthia Wu aims to tackle societal issues and improve Taiwan’s working environment. In an interview with Deutsche Welle, Wu characterizes the cooperation between Kuomintang (KMT) and China as too close, while the Democratic Progressive Party (DPP) is overly confrontational. She believes the "1992 consensus" needs updating and suggests that China propose a new treaty to foster dialogue. Wu acknowledges her privileged background and welcomes the nickname "Princess" given by the media. She emphasizes her attention to economically vulnerable populations, drawing on her work experience in London and business travels in Asia, Brazil, India, and Kenya. Wu was chosen as the primary election partner by party chairperson Ko Wen-je for her business background and international investment experience.
2024/01/04 14:57
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MOEA counters Jaw’s remarks amidst Taiwan’s investment surge
KMT vice-presidential candidate Jaw Shaw-kong claimed that he invited Taylor Swift to perform in Taiwan in 2023, but she declined due to concerns over the island’s geopolitical risks. Jaw warned that without a peaceful environment, investors would be discouraged from investing in Taiwan, potentially hindering the modernization and progress of businesses. He criticized the DPP for escalating tensions across the Taiwan Strait and believed that the U.S.’s harsh rhetoric and threats could deter potential investors. However, Taiwan’s Ministry of Economic Affairs disputed these claims, stating that foreign investment in Taiwan reached US$10.7 billion by November 2023, the second-highest rate in 15 years. The MOEA emphasized that "war risk" did not deter foreign capital, citing major semiconductor companies and AI companies that have recently invested significantly in Taiwan. With the general elections approaching, the MOEA urged Jaw not to damage Taiwan’s reputation for political gain.
2024/01/02 12:32
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President Tsai touts Taiwan’s indispensable global role
President Tsai Ing-wen highlights Taiwan’s growing global relevance and indispensability, as she reflects on the substantial changes during her seven-year presidency. Taiwan’s GDP has risen from NT$17.5 trillion to an impressive NT$23 trillion under her administration, thanks to initiatives aimed at investment and infrastructure development. Advanced semiconductor chip production has thrived, contributing to Taiwan’s economic stability and rapid advancement, surpassing the progress of the Four Asian Tigers. Tsai attributes this success to the unity and resilience of the Taiwanese people. She hopes that her administration’s efforts will have a lasting impact, sustaining Taiwan’s forward momentum for future leaders.
2023/12/30 21:04
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President Tsai stresses Taiwan’s economic significance
President Tsai Ing-wen asserts that Taiwan is globally significant economically and does not rely on China as a conduit to the world. Tsai emphasizes the importance of Taichung in the upcoming elections, stating that over 50 percent of presidential and vice presidential votes will come from the city. She acknowledges that inadequate infrastructure has hindered economic growth during her presidency, leading to an investment of NT$4 trillion in public infrastructure. Tsai also highlights her significant investments in social welfare, including elderly care aids, subsidies for children, and income tax exemptions for 47 percent of the Taiwanese population. She urges support for Democratic Progressive Party (DPP) presidential candidate Lai Ching-te in the 2024 election to continue her approach of incorporating economics, defense, and democracy to protect Taiwan.
2023/12/30 20:50
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Taiwan shifts investment focus from China to U.S., Germany
Taiwan’s investment in China has reached its lowest point in a decade, making up just over 10% of the island’s total overseas direct investment, according to a report by Nikkei Asia. Recent official data from Taiwan reveals that foreign direct investments surged by 87% to reach $257 billion through November this year. However, investments in China plummeted by 34% to only $29 billion, representing a mere 12% of the total. Since 2010, Taiwanese investments in China have been steadily declining and are projected to drop below the lowest point recorded since 1999. In contrast, investments in the United States have increased ninefold to $96 billion, accounting for around 37% of the total outbound direct investment. Additionally, Taiwan’s direct investment in Germany has soared 25-fold to $39 billion, largely driven by the operations of Taiwan Semiconductor Manufacturing Company. Sun Ming-te, Director of the Business Development and Research Center at the Taiwan Institute of Economic Research (TIER), predicts that if tensions between the United States and China persist, Taiwan’s investment in China will continue to decline.
2023/12/30 20:15
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President Tsai Ing-wen defends political approach
President Tsai Ing-wen, at Zhonghe’s Haishan Palace, praised the adoption of her political approach by opposition parties and emphasized the suitability of DPP candidates Lai Ching-te and Hsiao Bi-khim for implementing her policies. She highlighted Taiwan’s significant export growth and infrastructure investment, and responded to opposition criticism on spending, ahead of the Jan. 13 elections.
2023/12/28 19:56
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New agency to speed up drug review process in Taiwan
Taiwan’s health ministry has announced the establishment of the Center for Health Policy and Technology Assessment (CHPTA) with an investment of nearly NT$200 million from the National Health Insurance Administration (NHIA). The CHPTA aims to expedite the review process for newly insured drugs by implementing parallel reviews. Starting from New Year’s Day in 2024, the new system is expected to significantly shorten the time required for reviewing newly insured drugs from an average of 13 months to 6 months. Health Minister Hsueh Jui-yuan emphasized that national health insurance plays a stabilizing role in Taiwanese society and disapproved of major amendments, ruling out the possibility of a "third generation health insurance." He also expressed the belief that drug pricing policies under the health insurance system need reform, making the launch of CHPTA a significant reform effort.
2023/12/28 13:27
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Lai Ching-te defends ’2025 Non-Nuclear Homeland’
Democratic Progressive Party (DPP) presidential candidate Lai Ching-te defended his party’s energy policy against criticisms from the Kuomintang (KMT) and Taiwan People’s Party (TPP) on Tuesday (Dec. 26), reiterating that the ’2025 Non-Nuclear Homeland’ is not forcible termination. The plan, launched by President Tsai Ing-wen, is not meant to abruptly end the operation of existing nuclear power plants. The Maanshan Nuclear Power Plant’s No. 2 Reactor will cease operations by 2025 in accordance with the law. Lai praised Tsai’s initiative in developing the renewable energy industry and questioned the stance of KMT’s presidential candidate Hou Yu-ih and TPP’s presidential candidate Ko Wen-je on nuclear power. Lai also cast doubts on the candidates’ proposals to resurrect the Fourth Nuclear Power Plant, questioning the disregard of the referendum’s legal effects. He announced plans to invest NT$900 billion by 2030 in motivating corporate investment for the goal of ’carbon neutrality by 2050.’ Lai emphasized the importance of aligning with international standards, establishing carbon trading systems, promoting green electricity, reducing carbon emissions from the Taiwan Power Company, and addressing climate change’s impact on industrial development. He dismissed concerns about future green energy supply sufficiency, citing the Taiwan Power Company’s prediction of an electricity demand increase to 7 million kilowatts by 2030, with supply surpassing 9 million kilowatts. Lai predicted an end to power shortages and the advent of a diverse green energy era.
2023/12/26 19:35
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China’s TAO announces resumption of Taiwan grouper imports
China’s Taiwan Affairs Office (TAO) spokesperson, Zhu Fenglian, announced that the General Administration of Customs of the People’s Republic of China will resume imports of Taiwan groupers from certified and registered fish farms. This comes after China halted imports of the fish on June 13, 2022, due to the detection of banned substances. Zhu praised the Taiwanese grouper industry for taking effective measures to improve the safety of groupers during this period. She specifically highlighted the guidance provided by Su Ching-chuan, the policy committee vice chair of the Kuomintang (KMT), and Huang Yi-cheng, head of the Taiwan Cross-Strait Agricultural and Fishery Exchange Development Investment Association. The TAO emphasized that as long as Taiwan adheres to the 1992 Consensus and opposes independence, mainland China and Taiwan will be considered one family.
2023/12/22 16:15
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Taiwan’s new southbound investment tops China’s in 2023
Taiwan’s investments in New Southbound countries in the first 11 months of 2023 have surpassed investments in Mainland China, according to the Ministry of Economic Affairs (MOEA). Investments in the New Southbound countries reached US$5.13 billion, a 7.26% year-on-year increase, outstripping investments in Mainland China, which stood at US$2.96 billion. This trend is driven by the supply chain diversification, accelerated by the U.S.-China trade war and major manufacturers’ strategies to decentralize operations. Investments in New Southbound countries now account for around 20% of Taiwan’s total overseas investments, whereas China accounts for approximately 11.5%. From January to November 2023, there were 2,102 approved cases of overseas-focused investments by Taiwanese and foreign entities, a decrease of 8.89% compared to last year. The amount invested reached about US$10.8 billion (approximately NT$323.7 billion), the second-highest for the period in the last 15 years but still representing a 13.04% decline from the previous year. Investments from New Southbound countries into Taiwan saw 609 approved cases within the same timeframe, an annual increase of 41.30%. The investment totaled approximately US$2.5 billion (about NT$75.7 billion), up 25.20% from the previous year, with the most significant inflows originating from Singapore, Thailand, and Malaysia. On a broader scale, the 504 approved cases of outbound investments from Taiwan marked a 2.44% annual increase, surging by 145.61% financially to roughly US$22.8 billion (approximately NT$684.4 billion). Investments in New Southbound countries revealed 195 approved cases, rising by 35.42% year-on-year, totaling around US$5.1 billion (approximately NT$ 154.1 billion) and constituting 20% of Taiwan’s total foreign investments. Singapore, Vietnam, and Thailand were the leading recipients. Conversely, approved investments in Mainland China amounted to 305 cases, down by 7.58%, with the approved investment sum decreasing by 33.91% to approximately US$2.96 billion (about NT$88.9 billion). Mainland Chinese investments in Taiwan experienced a 45.45% decline in approved cases to 24, with the investment figure falling 21.65% to about US$27.4 million (approximately NT$821.6 million).
2023/12/20 20:45
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Kaohsiung first in Taiwan to issue NT$2B green bonds
Kaohsiung City Government’s Finance Bureau has become the first in Taiwan to be granted the qualification to issue green bonds, with a total amount of NT$2 billion. This move is expected to save on interest payments and enact sustainable environmental practices without increasing the city’s debt. The green bonds will fund green investment projects, encompassing renewable energy development, enhanced energy efficiency, and reduction of greenhouse gas emissions. These bonds, totaling NT$2 billion, will utilize their low, fixed interest rates to replace existing higher-interest bank loans, ensuring resources are invested in low-carbon construction. Under Mayor Chen Chi-mai’s leadership, the city has reduced its debt by NT$10.6 billion by the end of 2022, surpassing the goal of a NT$10 billion reduction. Kaohsiung aims to continue strengthening its financial and environmental sustainability and implement comprehensive net-zero policies as it works toward a 2050 net-zero goal.
2023/12/20 19:38
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C.C. Wei to maintain course after Liu’s 2024 exit: analyst
TSMC chairman Mark Liu’s upcoming retirement in 2024 has led investment experts to suggest that the semiconductor giant should slow down the progress of its new manufacturing facility in the United States. Industry analyst Jonah Cheng believes that TSMC’s policy direction will remain unchanged under the leadership of chief executive C.C. Wei, who is expected to succeed Liu as chairman. Cheng also proposes maintaining a dual leadership structure to cultivate successors from various backgrounds. Speculation suggests that Liu’s retirement may be linked to potential investment challenges in the company’s U.S. expansion. In response to these challenges, Cheng recommends a deceleration in the construction of TSMC’s second U.S. plant. He also highlights the need to assess the current downturn in the car market and economic outlook before proceeding with the German plant focused on automotive applications. Cheng suggests that the Japanese facility could be an optimal choice due to labor and power shortages in Taiwan, as well as cultural similarities and strong government support from Japan. TSMC’s primary obstacle, according to Cheng, is maintaining its leadership position in the semiconductor industry, especially after surpassing Intel. Additionally, the cyclical nature of the industry and the potential opportunities presented by the rise of artificial intelligence (AI) applications pose further challenges for the company.
2023/12/20 18:45
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Foreign investment in Taiwan hits 15-year high despite drop
The number of approved overseas Chinese and foreign investments in Taiwan decreased by 8.89% to 2,102 cases in the first 11 months of 2023 compared to the same period last year. However, the investment amount from these sources reached US$10.79 billion (NT$323.7 billion), the second-highest in the past 15 years, with significant contributions from the offshore wind power sector. French company TotalEnergies Renewables SAS and British firm OSW Investments Taiwan JVCO 2 Limited increased their capital in Haiding Two International Investment Co., Ltd. by NT$5.03 billion. New companies established during this period amounted to 1,124 cases, with an investment value of US$680 million (NT$20.37 billion). Investments from Southeast Asian countries increased notably, with 609 cases, a 41.3% year-on-year increase, and a monetary surge of 25.2% to US$2.52 billion (NT$75.68 billion), mainly from Singapore, Thailand, and Malaysia. However, Chinese investments in Taiwan declined, with only 24 approved cases, a 45.45% decrease from the previous year, and investment figures dropping by 21.65% to US$27.38 million (NT$820 million). On the other hand, overseas investments from Taiwan increased, with a moderate rise in approved cases by 2.44% to 504 and a substantial annual increase of 145.61% in investment total to US$22.81 billion (NT$684.42 billion). Key overseas investments included TSMC’s US$8 billion capital injection into its Arizona subsidiary and a €3.5 billion investment in Germany’s ESMC GmbH. Foxconn Technology Group also made a significant investment of US$8 billion in its Singapore subsidiary, and Yang Ming Marine Transport Corp. invested a similar amount in Singapore-based Yang Ming (Singapore) Pte. Ltd.
2023/12/20 17:20
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Taiwan boosts pediatrician subsidies to NT$1,000 in 2024
Taiwan’s Minister of Health and Welfare, Hsueh Jui-yuan, has announced significant increases in subsidies for dedicated pediatricians starting in 2024. The "2023 Plan to Optimize Pediatric Medical Care" aims to improve the quality of pediatric care and attract more young practitioners to the field. The subsidy for physicians specializing in the care of each young child will double from NT$500 to NT$1,000. The optimization plan, with a total budget of NT$2.8 billion, will run from 2021 to 2024, with NT$2 billion allocated for 2024 alone. The implementation of the dedicated pediatrician system across the nation underscores the investment made in this critical healthcare sector. Currently, 22 counties and municipalities have implemented the dedicated pediatrician system for children aged 0 to 3, and since November, it has expanded to include newborns. There are currently 1,882 dedicated pediatricians serving over 184,000 young children across 1,048 medical institutions, bringing the national coverage rate to 40.5%.
2023/12/19 16:51
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NMEA urges focus on funding, talent for Taiwan’s media hub
The newly appointed Chairperson of the New Media Entertainment Association (NMEA), Daphne Lee, emphasizes the importance of funding, talent, and global integration for Taiwan’s content industry to succeed. At the 2023 Asiahub New Media Summit in Taipei, Lee highlights the need for cross-sector collaboration and industry chain integration in the AI era. The summit features six main themes, 19 keynote speeches, panel discussions, and 7 workshops with 60 speakers. Participants, such as LINE Taiwan Managing Director Roger Chen, discuss Taiwan’s soft power, industry upgrade, transformation, and global outreach. Videoland Television Network Chairman Lee Chung-pei suggests creating quality content to ensure profitability and establish funding recovery mechanisms. Lin Chien-han, Chairman of Taiwan Secom, shares the company’s dual strategy of investment and production, moving from DVD rental services to investing in Taiwanese films. Lin also discusses how Taiwanese creative content is breaking into the international market by integrating local culture and socio-political issues, citing successful films like "The Candidate" and "The Bridge Curse."
2023/12/19 15:38
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Tsai endorses DPP duo Lai and Hsiao for Taiwan’s stability
President Tsai Ing-wen endorses DPP presidential and vice presidential candidates Lai Ching-te and Hsiao Bi-khim as implementers of her diplomatic and defense policy, known as the "Tsai Ing-wen approach," emphasizing stability, robustness, and trustworthiness. During a campaign event in Hsinchu County, Tsai also supports DPP Legislative Yuan candidates Chan Chi-ti and Tseng Sheng-kai, while hinting at a potential return to teaching after her presidency. Tsai highlights past projects in Hsinchu, such as the NT$2.9 billion investment in a pipeline connecting Shihmen Reservoir to Hsinchu, ensuring the high-tech industry’s resilience during droughts. She played a key role in the infrastructure upgrades, including the groundbreaking ceremony for the pipeline project. Despite opposition obstruction, the "Forward-looking Infrastructure Development Program," with a budget of NT$840 billion, was passed with DPP’s majority support. The Executive Yuan is expected to approve over NT$100 billion in funding for infrastructure projects, including extending the Wugu-Yangmei Elevated Road to Hsinchu and Toufen, and creating underground railways in Taoyuan. Tsai emphasizes the need for a parliamentary majority and urges public support for DPP’s legislative nominees.
2023/12/19 10:04