To promote employment growth and balanced regional development, the government plans to implement five major R&D projects in the areas of Green Energy Technology Innovation, Asian Silicon Valley, Asia-Pacific Biotech Pharmaceutical R&D, Smart Machinery Innovation, and Defense Industry, and seeks to establish innovation hotspots and industry clusters.
To fostering an attractive environment for innovation and entrepreneurship, the MOEA assists with creating links and matchmaking, acquisition of international resources, and creation of a capital market that can support entrepreneurship.
To achieve a nuclear-free Taiwan by 2025, the MOEA will actively develop new green energy, with the target of renewable energy accounting for 20% of Taiwan's total power by 2025, and is providing the market structure and legal basis needed for energy structure transition.
Taiwan is highly dependent on external trade.
In order to enhance Taiwan's external trading position and diversity, the MOEA broadly promotes Taiwan's trading relationships and strengthens trade with emerging markets,
actively participates in bilateral and multilateral economic cooperation as well as free trade negotiations,
strives to join regional trade initiatives, promotes a “New Southbound Policy”.
To encourage multinational firms to invest in Taiwan, the MOEA creates a fair environment for industry development,
integrates and upgrades management of water, electricity, land, manpower and talent resources, establishes a solid framework for investment promotion, and simplifies investment procedures to increase investors' confidence.
To strengthen demand, the MOEA will take exports and domestic demand as dual engines of growth, promote manufacturing and the improvement of people's lives, encourage linkage between trade and the local economy.
The MOEA will take innovation, employment, and distribution as the key elements of its new economic development model,
shift from "efficiency-driven" economics to "innovation-driven" economics, and use innovation to strengthen Taiwan's global competitiveness. Promoting the transformation and upgrading of the country's industrial structure, with future industries, green energy industry, and the lifestyle industry as key areas. The MOEA will strive to realize balanced economic, environmental and social development, while ensuring the benefits are shared by all citizens.