Taiwan Revamps Industrial Policy with an Eye on Tomorrow

At the opening ceremony of TaipeiPLAS 2024, Mr. David Chuang, Chairman of the Taiwan Association of Machinery Industry (TAMI), highlighted key international trends in industrial policy. He pointed out that the U.S. encourages companies to invest their year-end surpluses in new equipment by offering investment tax credits, while Japan actively provides subsidies for energy-saving and carbon-reduction initiatives. In light of this, Chuang urged the attending government officials to introduce similar subsidies to support the replacement of outdated industrial equipment in Taiwan.

In response to this, Dr. Ching-Chang Lien, Vice Minister of the Ministry of Economic Affairs (MOEA), noted that the “Statute for Industrial Innovation” is set to expire at the end of the year. He confirmed that the government is working on amendments to extend and expand the law, incorporating "Artificial Intelligence (AI)" and "Net Zero Emission" initiatives for the coming year.

At the 2024 edition of TaipeiPLAS, visitors can also see the exhibitors showcase industry innovations poised to transform various aspects of production. From new materials to advanced manufacturing processes and recycling methods, exhibitors are presenting groundbreaking solutions. The development of more durable and eco-friendly plastics and rubbers, combined with intelligent, automated processing equipment, promises greater accuracy and efficiency. Furthermore, the integration of AI is expected to reduce energy consumption and waste. Across the board, manufacturers, suppliers, consumer brands, and researchers are united in their efforts to protect the global environment and create sustainable business models.