Key Takeaways from President Lai's Economic Vision
Transworld Steel was honored to be invited to the Entrepreneurs Association gathering, where we had the privilege of hearing President Lai Ching-te deliver an inspiring keynote on “Taiwan’s Economic Strategy in a Changing World.”
President Lai emphasized the pressing need for Taiwan to develop a low-carbon economy and transform into an AI-driven island through digital transformation. To support this vision, the government is amending the Industrial Innovation Act to include AI and net-zero equipment as part of investment tax credits, while actively assisting small and medium-sized enterprises (SMEs) through three strategic pillars: digitalization, decarbonization, and market expansion.
President Lai also highlighted Taiwan’s strong global performance:
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In the 2024 IMD World Competitiveness Ranking, Taiwan ranks 8th out of 67 economies, and for the fourth consecutive year, 1st among economies with populations over 20 million.
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2024 GDP growth reached 4.59%, the highest in three years—surpassing Singapore (4.4%), Hong Kong (2.5%), South Korea (2.2%), and the global average (2.8%).
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Taiwan’s GDP has grown from NT$17.5 trillion in 2016 to 25.47 trillion in 2024, making it the 21st largest economy in the world.
Looking ahead, President Lai outlined two key government directions in environmental policy:
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The government will continue to expand green energy development to address climate change and meet the requirements of the EU Carbon Border Adjustment Mechanism (CBAM).
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The National Climate Change Response Committee has been established, alongside efforts to enhance Taiwan’s carbon pricing system, laying the foundation for a robust policy framework on the path to net-zero emissions.
As part of Taiwan’s manufacturing sector, Transworld Steel remains committed to a business strategy that balances economic growth, environmental responsibility, and social impact—contributing to the island’s long-term competitiveness and sustainability.
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