xperts discuss the latest developments and trends in the industry, opened yesterday in Taipei under the theme of “connecting the global value chain.” “Biotechnology is undoubtedly one of the most promising industries in the knowledge-based economy,” said Chang Jin-fu, minister of state of Science and Technology, in his opening address at the Grand Hyatt Hotel.
Chang pointed that the government has set its sights on becoming a global hub for the biomedical research and clinical studies in recent years by “emphasizing intellectual property rights (IPR) protection and regulatory reforms of pharmaceuticals management.”
“[Establishing] a new drug critical path regulatory environment is an important example of the measures being taken to enhance the development of the biotech industry,” he added.
Also, he stressed that the government has set forth the “Biotech and New Pharmaceutical Development Act” to enhance development of Taiwan’s biotech industry and establish “a competitive niche for industry participants.”
“Biotechnology is no doubt one of the fastest growing industries in the world today,” said Legislative Speaker Wang Jin-pyng, who noted that biotech applications cover a wide range of products, including pharmaceuticals and fuels.
“The transformation of Taiwan’s economy has often been described as the best example of sound governmental planning combined with solid private-sector efforts,” he added.
In June 2007, Wang successfully proposed the draft bill for the “Biotech and Pharmaceutical Industry Development Statute” to the legislature. The statute offered numerous incentives and tax breaks to encourage research and investment in biotechnology industry.
“Taiwan’s biotech industry is already in motion,” he went on.
