Taipei, The production value of Taiwan's machinery industry is expected to grow by 5 percent to 10 percent this year, according to Chairman Alex Ko (???) of the Taiwan Association of Machinery Industry, who said Wednesday that the industry is aiming for an annual production value of NT$2 trillion (US$66.79 billion) in 10 years.
Wednesday marked the start of the 2018 Taipei Intelligent Machinery and Manufacturing Technology Show (iMTduo), an annual four-day expo that this year has brought together over 230 busineses showcasing the newest innovations in industry 4.0 applications in nearly 1,000 booths.
Ko said that Taiwan's machinery industry broke the NT$1 trillion mark last year, with an output value of NT$1.1 trillion, and that this year's value is expected to approach or breach the NT$1.2 trillion mark.
The growth of the industry is evident in the export figures, which totaled US$25.6 billion last year, up 21.1 percent from the year before, and up US$8.7 billion for the first four months of this year, up 15 percent from the same period of last year.
Ko expressed hope that the industry can add an additional output value of NT$100 billion every year, which will result in total production value of NT$2 trillion within 10 years.
President Tsai Ing-wen (???), who gave a speech at the opening ceremony of the show, outlined three ways in which the government will continue to promote the growth of the smart machinery industry as the industry transforms from traditional to smart.
First, the government will consolidate more resources for the industry, under the framework of an industry, government and academia platform that was established last year, to help local businesses find their footing in the field of industry 4.0, Tsai said.
Furthermore, there will be an even larger focus on developing talent for smart design and manufacturing, as well as facilitating a smoother tradition from the classroom to the workforce, she continued.
Tsai finally emphasized the importance of domestic development and production, expressing hope that as the machinery industry transitions, it will bring about a greater percentage of made in Taiwan products.
Under the administration's "five plus two Industrial Innovation Program," the president has put emphasis on smart machinery development, and after inspecting plants in Taichung a day earlier, called it the industry that has advanced the fastest and has shown the best results of the seven projects.
Source: Focus Taiwan News Channel