TAIPEI, (TaiwanToday) – President Lai Ching-te said February 24 that the government is committed to stimulating Taiwan’s economic growth in technology and traditional industries and driving the country’s smart development.
Lai made the remarks while attending a Lunar New Year event organised by the Straits Exchange Foundation and attended by China-based Taiwanese businesspeople in Taichung City. He first elaborated on government work to maintain Taiwan’s economic growth since former president Tsai Ing-wen took office in 2016, and announced that the economic growth rate this year is expected to reach 7.71 percent on the strength of Taiwan’s strong technology industry and anticipated rises in traditional sectors, which will benefit from tariff negotiation results with the US.
The government will undertake further work in other sectors, the president said, citing the Ten Major AI Infrastructure Projects, which aim to cultivate 500,000 AI personnel by 2040 and generate a NT$15 trillion (US$478 billion) production value. The administration will also create an AI innovation and entrepreneurship ecosystem, introduce AI technology to small- and medium-sized enterprises and establish a smart living environment, he added.
According to Lai, the government will make good use of the capital of NT$130 trillion accumulated from the growing banking, securities and insurance industries over the past decade. Such capital will be used to shape Taiwan into an Asian asset management center, build infrastructure with an allocation of NT$1 trillion, and assist micro, small, and medium-sized businesses to upgrade by providing supportive measures including tax exemptions, personnel cultivation and technical guidance, he said.
The president went on to emphasise the importance of the defense industry as part of the Five Trusted Industry Sectors initiative, adding that the special defense budget will also help promote Taiwan’s industrial upgrading and transformation.
Following policies introduced under Tsai, the president said he is also determined to protect national security and safeguard peace across the Taiwan Strait and the Indo-Pacific, of which the key is to maintain the cross-strait status quo. He further added that he looks forward to more exchange, dialogue and cooperation between the two sides of the strait to achieve peace and mutual prosperity.
Meanwhile premier Cho Jung-tai describes course of Taiwan’s future development during a Lunar New Year gathering on February 23 in Taipei City – that the Executive Yuan (EY) will continue to work with all branches of government to ensure an open, prosperous and safe Taiwan for all.
According to Cho, Taiwan’s economy grew 8.63 percent in 2025 thanks to the collective efforts of the people. The expansion, a 15-year high, has been enjoyed across society through the ongoing development of a more equitable social system to share the benefits of such success more broadly.
Following president Lai Ching-te’s directives to prioritise policies that promote the economy, people’s livelihood, youth development and care for the disadvantaged, Cho said the government is now setting its sights on the space industry. He discussed the additional focus on further developing Taiwan’s maritime capabilities and cited progress in space technology, defense industry and marine exploration.
The premier also said it is important for the EY to engage in active dialogue with the Legislative Yuan to break down barriers, adding that the president would be meeting with him and the presidents of the LY, Control Yuan, Examination Yuan and Judicial Yuan later in the day to review the success of government policies.
Cho thanked EY staffers for their contributions and specifically recognised the hard work of the trade negotiation team headed by vice premier Cheng Li-chiun and minister without Portfolio Yang Jen-ni, especially in light of recent developments regarding US tariff policies.
