In line with last year’s investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic petrochemical industry, Council for Economic Planning and Development (CEPD) has said.
In line with last year's investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic#
Of the total sum, NT$ 15 billion would be invested in high-value petrochemical sectors this year, around 13 percent more than NT$ 13.3 billion invested last year, according to Focus Taiwan.
In line with last year's investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic#
Increased allocation for investment in high-value sectors is mainly attributable to a program that the Cabinet approved last year to fasten development of high value-added petrochemical industries, the CEPD said.
In line with last year's investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic#
The program focuses on supporting downstream petrochemical firms to get more competitive and innovative, and gain higher integration in the industry’s supply chain by creating a liking and demand for higher value items, the Council said.
In line with last year's investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic#
To this end, the Government each year invests around NT$ 600 million to persuade petrochemical businesses to spend more on research and development.
In line with last year's investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic#
Likewise, the Ministry of Economic Affairs has constituted a promotion office, which works in association with research institutions to back development of high value-added petrochemical businesses and enable producers to escalate the value chain.
In line with last year's investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic#
The program has already started delivering results, and the state-run CPC Corp., Taiwan has invested NT$ 285 million to set up an eco-friendly energy research institute and test centre for bulk production and testing of new materials on a pilot basis. The company foresees its investment in the sector reaching NT$ 2.3 billion by 2016, it added.
In line with last year's investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic#
Meanwhile, private firms are also eagerly surveying the prospects of establishing R&D centres, the Council said.
In line with last year's investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic#
The Government intends to continue employing more resources to upgrade the R&D abilities of the industry, skills of the technicians and for enabling cooperation amongst operators, it added.
In line with last year's investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic#
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