Taiwan Passes 'Economic Stimulus Package', Plans to Add NT$2 Billion to Support LED in 2012

　　Taiwan's Executive Yuan passed the 'Economic Stimulus Package' on December 1. Its Deputy Minister of Economic Affairs Lin Sheng-zhong held a press conference in the afternoon to explain the four major measures: promoting investment, supporting industries, boosting consumption, and striving for exports.

　　In response to the economic downturn, the Ministry of Economic Affairs has allocated nearly NT$9 billion to stimulate domestic demand and exports. Through the four major measures of promoting investment, supporting industries, boosting consumption, and striving for exports, the goal is to shore up Taiwan's economic growth in 2012 and pursue an economic growth rate above 4%.

　Regarding LED, the Ministry of Economic Affairs has also expanded the budget for installing LED streetlights in 2012. Originally, only NT$180 million was allocated in 2012 for installing LED streetlights in Keelung City, Hsinchu City, and Chiayi City. To expand domestic demand and boost the LED industry, the Bureau of Energy will additionally allocate NT$2 billion in 2012 to install LED streetlights in the five special municipalities of Taipei City, New Taipei City, Taichung City, Tainan City, and Kaohsiung City, as well as in 14 counties and cities. Next year, 40% of mercury streetlights are expected to be replaced.

　　In addition, regarding investment promotion, the Ministry of Economic Affairs will divide efforts into two parts: "Taiwan Capital Strengthening Taiwan" and "Japanese Capital Invested into Taiwan." Meanwhile, the Executive Yuan has set the policy direction for 2012, with boosting domestic demand as the primary task for driving economic growth, maintaining a growth pattern of "cool externally, warm internally," and "boosting consumption" is the key focus for the Ministry of Economic Affairs in the coming year.