Taiwan Cabinet Targets Biotech for Economic Growth

A wide-ranging development plan targeting Taiwan's biotechnology-based economy is set to kick off next year. Focusing on agriculture, biomedicine, food, health care and medical instruments, the 10-year initiative will potentially expand the scale of the local bio-economy to USD 123.2 billion in 2026.

In conjunction with the Cabinet’s Productivity 4.0 promotion, the plan outlines a new economic development path spanning agricultural, health and industrial sectors as the nation readies for an aging society.

The new scheme aims to further biotech innovation, internationalization, and servitization. It will supersede the existing Diamond Action Plan for Biotech Takeoff and Action Plan for Biotech Industry.

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