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Despite economy gloom, good signs emerging: VP

TAIPEI--Some good news has been emerging recently, even though Taiwan is still under economic pressure amid the gloomy global economy, Vice President Wu Den-yih said yesterday.

Taiwan has been experiencing “tough economic challenges” both domestically and from overseas over the past year, Wu said at the opening ceremony for five exhibitions in Taipei on electronics and green industry.

The European debt crisis, China's slowing economic growth, rising global prices of wheat, soybeans and corn, and insufficient domestic investment, as well as inflation issues, have all influenced the economy, he added.

However, Wu said there has been some good news recently, such as the ground breaking of the NT$7.26 billion (US$243 million) Taipei Nangang Exhibition Center Hall 2 in July.

The new structure will help make Taiwan a key global center for international trade fairs, meetings and conferences, according to Wu.

The nine-floor building, which is expected to be completed by the end of 2015, will be able to accommodate 2,362 exhibition booths and conference space for 2,400 people, according to the Ministry of Economic Affairs.

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