Cabinet approves NT$500 million plan to support local speciality industries

Taipei, Nov. 21 (CNA) The Executive Yuan on Thursday approved a plan to invest NT$500 million (US$15.36 million) over four years to help upgrade, transform and market local speciality industries.

The plan will see the Ministry of Economic Affairs (MOEA) select speciality industries nominated by Taiwan's 369 townships, cities and districts, the Cabinet said in a statement.

In addition, nationwide competitions among industries will be held to help create distinctive regional brands, according to the statement.

The MOEA will then invest in promoting some of the highlight characteristics by providing guidance and helping connect domestic and foreign channels for marketing these industries to balance the development of urban and rural industries in Taiwan and attract international tourists, the statement added.

The government plans to invest NT$500 million from 2025 to 2028 to enhance local industrial operation capacity, drive local economic and social prosperity, and achieve the common good of urban and rural areas through joint promotional efforts of the central and local governments, the Cabinet said.