Taiwan sights a nanotech future

MUMBAI: Biotechnology and nanotechnology are tomorrow's star industries in Taiwan, said Paul Wang, director, Bilateral Trade Division, Bureau of Foreign Trade, Ministry of Economic Affairs, Taiwan.

Speaking on the topic "Taiwan - your partner for globalization" at the Nasscom event, he said, Taiwan is known for its technical skills. Taiwan has high number of patents filed with US. It has so far 6545 patents of which 3003 are in high tech areas. For approved patents in the US in the year 2000, Taiwan ranked fourth in the world, behind US, Japan and Germany. The economy of Taiwan has increased from 3.2 percent to 5 percent. Capital goods market too has increased in Taiwan from 14 - 23 percent.

The government initiatives, de-regulations and liberalization, professional human resources, innovation and R&D competitive industrial clusters, advanced infrastructure, greater capital availability are making it a gateway to Asia-Pacific and beyond.

Briefing about advantages of Taiwan in human resources Paul Wang said, "Taiwan has an abundance of well educated and highly skilled people. This kind of human resource investment has generated new energy to constantly spur the development of Taiwanese industries. More than 20,000 people in the country receive either a master's degree or PhD every year and this provides a wealth of managerial and R&D talents for multinational corporations."

Cyber Media News Service