Taiwan unveils plan to train 25,000 int'l professionals annually

Taipei, Sept. 11 (CNA) Taiwan's Ministry of Economic Affairs (MOEA) has announced plans to implement targeted strategies to attract 25,000 foreign students to study and eventually to stay and work in Taiwan annually.

A key component of these efforts is the launch of a program, which will recruit mainly students from countries such as the Philippines, Malaysia, and Thailand, according to a press release by the ministry on Wednesday.

The MOEA projects that Taiwan's labor market will face a workforce shortfall of around 480,000 by 2030, with a gap of 350,000 anticipated by 2028.

An MOEA survey of 24,000 companies in August revealed that over 1,000 firms urgently need foreign talent, requiring about 5,000 workers.

However, only 19,000 international students come to Taiwan annually, and with a retention rate of just 47 percent, around 8,900 graduates do not stay for employment, the MOEA said.

To address this talent gap, the MOEA, in collaboration with the Ministry of Education and the Cabinet-level National Development Council (NDC), has developed a two-pronged approach.

In the first phase, industry-specific talent-matching initiatives will assist businesses in retaining international graduates, the MOEA said.

The government will help students gain workplace experience and provide targeted training to meet industry demands, increasing post-graduation retention in Taiwan, it added.

In the medium and long term, the program will focus on attracting top students from Southeast Asia, offering tailored courses to develop the skills required by local industries.

Under the program, the government will cover tuition costs, while companies will provide a stipend. After two years of training, participants can choose to work in Taiwan for an additional two to four years.

The MOEA aims to train 25,000 international professionals annually in the hope of them staying and working in Taiwan, and is seeking close interagency cooperation and funding from the NDC to ensure the program's success, according to the ministry.