Taipei City Industrial Development Subsidies and Financing Loans Both Surpass 1 Billion

The total amount of Taipei City's industrial development incentive subsidies and financing loans has, since Taipei Mayor Ko Wen-je took office, each surpassed the 1 billion yuan mark. On the morning of the 18th, Mayor Ko Wen-je specially attended the press conference held by the Department of Economic Development. He particularly emphasized that entrepreneurship is the simplest way to solve unemployment, and innovation is Taiwan's only way out. He hopes this 2 billion yuan can serve as seed money to create even more output value.

Mayor Ko Wen-je pointed out that Taiwan's economic development over the past 20 years has not been very smooth. He believes the reason is the failure of industrial upgrading, because Taiwan has always adopted the OEM/contract manufacturing approach and refused to abandon its past successful model. So when land costs, wage costs and even environmental protection requirements rose, Taiwanese businessmen were forced to relocate. But whether they moved to the Pearl River Delta, the Yangtze River Delta, the Great Southwest or even to Vietnam, they never thought about upgrading. So as soon as costs rise, the entire industry just keeps moving outward.

Mayor Ko Wen-je stated that under the current model of Taiwan taking orders and producing abroad, GDP appears to grow on the surface, but why do people not feel it when the basic wage is recently raised? Because we only get a number for economic growth, while the real wage income is all outside Taiwan, so the people of Taiwan do not feel it.

Mayor Ko Wen-je believes that Taiwan itself must have its own industries, but Taiwan has no oil, no gold mines, and its natural resources are not very abundant. The only thing left is human power. But our education has long taught students how to be employees, and rarely taught students how to start a business. So innovation has never been part of our education. Therefore we only know how to be employees, and entrepreneurship is very difficult.

Mayor Ko Wen-je emphasized that in fact, entrepreneurship is the simplest way to solve unemployment, and Taiwan has many opportunities. The first step is to make it convenient for young people to start businesses, so on the first floor of the city government there is a one-stop innovation service station to help solve problems related to innovation and entrepreneurship.

Mayor Ko Wen-je stated that in addition to providing administrative convenience and innovation bases, the last piece is funding. Over the past 3 and a half years, the Taipei City Government's incentive subsidies have reached 1 billion yuan, and he also thanked the financial institutions present for providing 1 billion yuan in loans. So over the past 3 and a half years, subsidies and loans for startup industries have exceeded 2 billion yuan. He hopes this 2 billion yuan can serve as seed money and create even more output value.