Taipei:Taiwan's President Lai Ching-te emphasized the need for a robust network of industries to strengthen the country's economic foundation during his National Day address. He urged leading companies expanding abroad to help their supply chains establish deeper roots within Taiwan, forming a "chain of guardian mountains."
According to Focus Taiwan, Lai's remarks seemingly referenced Taiwan Semiconductor Manufacturing Co., a key player in Taiwan's economy, which has been encouraged by countries like the United States and Japan to expand overseas to enhance supply security.
Lai detailed government strategies to bolster this development, citing Taiwan's impressive economic performance alongside challenges from tariffs, energy issues, and competition from Chinese supply chains. Taiwan's economy saw a 14.15 percent growth in the first half of 2026, with full-year growth potentially surpassing 11 percent, the highest in 39 years. The per capita GDP is projected to reach nearly double its 2016 level at US$45,332.
The President highlighted the Executive Yuan's efforts to accelerate strategic industries and emerging technologies, focusing on semiconductors, AI, defense, security, and next-gen communications. He also mentioned initiatives in silicon photonics, quantum computing, and robotics, aiming to benefit traditional industries.
Additional priorities include critical minerals, biotechnology, an Asian asset management hub, public infrastructure, cultural industries, and a significant boost for tourism. A NT$100 billion program is set to support micro-, small-, and medium-sized enterprises in financing, training, digital transformation, and international distribution.
Addressing labor shortages, Lai announced measures to maintain Taiwanese workers as the primary workforce, supplemented by overseas recruits. This includes linking local wages to migrant worker quotas and easing retention restrictions for skilled roles.
On energy, Lai committed to ensuring stable electricity supply and a net-zero transition through renewable energy and grid upgrades. He stressed decisions would be based on science and safety, avoiding ideological biases.
Economic improvements aim to enhance living standards, with 11 consecutive years of minimum wage hikes and increased welfare benefits. Lai also proposed a universal NT$10,000 cash payment to ensure prosperity benefits families through better pay and reduced burdens.