Biomedical industry development project approved in Taiwan
11-Nov-16, Taipei Times
Taiwan's government has approved a multibillion-dollar project to develop the biomedical industry through a tax incentive scheme to increase innovation and export medical services to the world.
%20CNA.jpg "Biomedical industry development project approved in Taiwa (c) CNA")
Image: CNA
The project aims to relax investment and recruitment regulations to lure and retain foreign capital and talent, and to encourage local businesses to acquire international companies and develop foreign markets.
The government is to invest NT$10.94 billion (US$346.32 million) in the next year to develop 10 large-scale healthcare firms, 20 new drugs and 80 new medical devices to be marketed internationally by 2025 in a bid to boost the annual value of the biomedical industry to NT$1 trillion, Ministry of Science and Technology Department of Life Sciences Director-General Tsai Shaw-jenq (蔡少正) said.