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Taiwan Initiates Fund to Boost 7 Major Innovative Industries

In what it is calling the 5+2 Major Innovative Industries policy, the administration aims to shift Taiwan’s industrial base away from its traditional concentration on contract manufacturing and gear it towards high-value-added, service- and solutions-oriented business models.
 
The initial five “pillar industries” were the Internet of Things (also referred to as Asia·Silicon Valley), Biomedical, Green Energy, Smart Machinery, and Defense. Added later were high-value agriculture and the circular economy.
 
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