The Executive Yuan’s Council for Economic Planning and Development (CEPD) on December 21 approved the Republic of China 2010 National Development Plan to implement the second year of the four-year Third-Term Plan for National Development in the New Century (2009-2012). The 2010 National Development Plan, once it is submitted to the Cabinet and ratified, is set to take effect on January 1, 2010.
The CEPD stated that the 2010 plan focuses on creating a high-quality and stable investment environment to increase private-sector investment capacity, improving employment to raise the labor remuneration allocation rate and stimulate private consumption, promoting import/export diversification and service industry exports to boost export competitiveness and providing diversified employment and training opportunities to create jobs and lower the unemployment rate.
The CEPD indicated that, based on consideration of the global situation and domestic conditions, the 2010 National Development Plan parameters are: 4.8 percent national economic growth, per capita GDP of US$17,541, 4.9 percent unemployment (a 2.4 percent increase in employment and a 58 percent labor participation rate) and a less than 1 percent rise in the consumer price index.
The CEPD also expressed the hope that negotiating and signing a cross-strait economic cooperation framework agreement, boosting the number of inbound tourists from the Chinese mainland and increasing wage subsidies for private businesses would improve the domestic labor market and reduce unemployment. Implementation of employment stimulus measures, such as increased wage subsidies for private businesses and hiring by government agencies, will add at least 100,000 employment opportunities next year.
Talent will also be cultivated for the six key emerging industries (tourism, medicine and health care, biotechnology, green energy, culture and creation, and high-end agriculture), key service industries and the newly emerging ICT industry, and government promotion of such large-scale investment projects as Kuokuang Petrochemical Technology Co. and the fifth phase of Formosa Petrochemical Corporation’s No. 6 Naptha Cracker will boost economic development. In addition, legislation of the Greenhouse Gas Reduction Act shall be completed and the Energy Management Act shall be amended to achieve clean industries and attain the objective of sustainable development of the environment.