Premier Wu forecasts 2010 economic growth of 4.9%

In his policy address to the Legislative Yuan, Wu highlighted the government's plans to achieve economic development.

Citing the latest forecast by Global Insight, Wu said Taiwan's economic recovery will be steady and economic growth of 4.9 percent will be achieved this year, which will be higher than the projected average 2.9 percent globally. Taiwan will also surpass the economic growth rate of the United States, Japan, the European Union, Hong Kong, and South Korea this year, he predicted.

He said his Cabinet's economic goals for 2010 include lifting Taiwan's ranking in the World Business Environment Survey 10 notches higher than its 46th place in 2009.

The Cabinet also aims to improve the country's business and investment environment and has set a private investment target of NT$1 trillion (US$31.22 billion) this year, he said.

He further expressed hopes that the production value of the country's six main emerging sectors — biotech, green energy, tourism, health care, quality agriculture and cultural innovation — will increase from the projected NT$2.1 trillion for this year to NT$2.8trillionin 2012 and will provide 152,000 new job opportunities.

Speaking of the government's efforts to sign an economic cooperation framework agreement (ECFA) with China, Wu predicted that the pact will help boost Taiwan's GDP by 1.65 percent to 1.72 percent and produce 257,000 to 263,000 jobs.

The ECFA will “help people do business, and boost Taiwan's competitiveness,” the premier said.

Other government initiatives will include building housing units for low-income and less-privilege families and providing low-interest loans for the young people to lease or purchase homes, he said.

On the issue of global warming, Wu promised that all governmental institutions and public schools around the country will adopt measures to save energy and reduce carbon dioxide emissions.

He also mentioned plans to formulate criteria for the development of low-carbon cities and to promote low-carbon sightseeing tours in Taiwan.

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