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The digital New Southbound Policy is a national strategic plan based on Taiwan’s economic development needs and the principle of diversified development, combining the nation’s strengths in industry, government, academia and research to increase its influence in the Indo-Pacific region. The information and communications technology (ICT) industry is also one of Taiwan’s strengths, as is healthcare. On Sept. 9 last year, the Executive Yuan proposed a set of amendments to the 2017 Act for the Development of Biotech and New Pharmaceuticals Industry (生技新藥產業發展條例). As well as deleting the word “new” from the act’s title, it added clauses concerning digital medical treatment, ....
The legislature on Dec. 21 passed an amendment to extend tax breaks for investing in biomedical research and development (R&D), while providing tax benefits to promote the development of Taiwan’s biomedical industry. The amendment to the Act for the Development of Biotech and New Pharmaceuticals Industry (生技新藥產業發展條例), which cleared its third reading in the legislature, extends the law until the end of 2031. The amendment expands the law starting this year to cover emerging fields such as regenerative medicine, digital health and precision medicine, including contract development and manufacturing organizations. New tax reductions are also provided to further promote the development of emerging ....
Taipei, Dec. 21 (CNA) Taiwan's Legislature on Tuesday passed an amendment that extends existing tax breaks for investment in biomedical research and development (R&D) while providing new tax benefits as part of an effort to promote the development of the biomedicine industry in the country. ....
The government has been focused on the biotechnology industry since 1984, when it set up a biotechnology and pharmaceutical industry development promotion task force. In 2007, it passed the Act for the Development of Biotech and New Pharmaceuticals Industry (生技新藥產業發展條例), and following the outbreak of the COVID-19 pandemic last year, the biotech industry has garnered even more attention. <strong>FAILED PROGRAMS</strong> However, a look at the “two trillion, twin star” program in 2002, the “six key emerging industries” program in 2009, the “5+2 industrial innovation” program in 2016 and last year’s “six core strategic industries” program shows that there has been progress in ....