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Biotech industry key to Taiwan's future: VP

TAIPEI, Taiwan -- Vice President Vincent Siew said yesterday that the biotech and medical care industries will play a critical role in Taiwan's economic development.

He noted that the government has listed the two sectors among the six potential industries subject to a series of government stimulus measures in the hope that they will succeed the IT sector as the next generation of the country's “star” industries.

Siew said the government's economic and financial advisory group, which he chairs, is working out post-financial crisis economic strategies that will include industrial transformation and upgrading, as well as ways to nurture the biotech and medical industries.

The vice president was speaking at an award presentation ceremony in which newly emerging companies in these sectors were cited for their excellent performances over the past year.

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