Taipei, Aug. 13 (CNA) The Taiwan Association of Machinery Industry (TAMI) issued a white paper Monday, envisioning the local industry with annual output worth NT$2 trillion (US$64.9 billion) by 2025.
Taiwan's machinery and telecommunication industries are competitive and must not be left behind as part of industry 4.0, TAMI Chairman Alex Ko ((柯拔希) said, adding that the white paper is being issued as a blueprint for government, academia and industry.
With projected growth of 8 percent each year, TAMI aims to guide Taiwan's value-added machinery industry in the direction of intelligent machinery and manufacturing, according to Ko.
The industry's output topped NT$1.1 trillion in 2017, Ko said.
About 230,000 employees currently work in Taiwan's machinery industry, which is made up of 13,300 companies that have increasingly shifted focus to produce hi-tech precision machinery, he added.
In terms of value, Taiwan is the fourth largest exporter of machine tools in the world, according to Ko. It is also the sixth largest exporter of rubber/plastic machinery and textile machines and the second largest exporter of shoe-making equipment.
The local machinery industry does not consume as much water or power as other sectors and as such is in the perfect position to develop in Taiwan. The land acquisition and talent training are keys to its sustainable growth, Ko said.