The National Development Council (NDC), the top economic planning body in Taiwan, said on Tuesday that a total of NT$180 billion (US$6.47 billion) has been proposed by government agencies for the fourth phase of the country’s forward-looking infrastructure development plan.
The NDC said the NT$180 billion will be spent from 2023-2024 after the third phase in which the government plans to spend about NT$229.8 billion from 2021-2022.
According to the NDC, the new NT$180 billion budget will be reviewed by the council in the middle of 2022 before appropriate allocations are made.
The NDC said the government is set to allocate the fourth phase budget to a wide range of infrastructure projects such as green energy, angstrom semiconductors, the Internet of Things, artificial intelligence and cybersecurity.
The funds will also be used to narrow the gap between urban and rural areas around Taiwan, helping the country achieve more balanced development, the NDC said.
The fourth phase will follow the third phase in which the government assigned NT$124.06 billion for 2021 with more than 90 percent of the budget used as of December on various projects, including a move to install air conditioners in most classrooms, improve water supplies and subsidize 5G connectivity, the NDC said.
In 2022, the government will spend an additional NT$105.78 billion to boost economic growth amid COVID-19, the NDC said.
The Legislative Yuan passed the Special Budget Statute for Forward-Looking Infrastructure in July 2017 to allow the Cabinet to spend up to NT$840 billion on national infrastructure over the next eight years.
Between 2017 and 2022, the government will inject NT$559.8 billion into the forward-looking infrastructure plan.
The plan covers a diversity of projects, including rail transport construction, water improvement, green energy development, digital development, urban and rural development, child care environment improvement, and food safety improvements.
The program aims to build the infrastructure the country needs to facilitate development over the next 30 years.
Source: Focus Taiwan News Channel