Source: Taiwantrade | Updated: 23 November 2015
According to Taiwan Premier Mao Chi-kuo, the cabinet is currently implementing a strategy aimed at promoting Taiwan’s engineering expertise in overseas markets.
Under the cabinet scheme, the Public Construction Commission will raise US$14.4 million over four years to fund the overseas expansion of local engineering firms in the areas of power generation, natural resources, transportation and construction, among others.
“We expect to establish five flagship teams through this government-led initiative to export cutting-edge engineering solutions and technologies originating in Taiwan,” Mao said.
Mao made the remarks at the PCC-organized Engineering Industry Globalization Conference in Taipei City. Due to fierce global competition, he added, Taiwan is in need of structural upgrades in the engineering sector, and should seek to provide solutions integrating upstream and downstream services throughout the industry value chain.
The Cabinet plans to help facilitate the transformation via a four-pronged scheme, according to the premier. The first step will be to help the industry export its expertise in whole plants and total solutions.
“The Ministry of Finance will establish a syndicated loan platform led by the ROC Export-Import Bank to back the overseas endeavors, with capital funding capped at US$17.3 billion.
Chia Yi Lin (email@example.com)