Taiwan’s Investment Environment. Taiwanese President Ma Ying-jeou recently announced government plans to increase investment in the nation’s biotech industry by more than 25% over the next three years, positioning Taiwan as a global leader in the bio pharmaceutical industry. This, along with a number of other key factors, has led to Taiwan’s gaining status as one of the top investment countries. According to a 2013 report by BERI, a leading business environment risk assessment firm, Taiwan ranks second for the best investment environment in Asia and third in the world after Singapore and Switzerland.
R&D Training & Funding. During the second phase, the Taiwanese government plans to fund $10.26 million toward the development of a three-year training program in order to help establish a stronger talent pool. According to a recent report in Taiwan Today, the government plans to do this by subsidizing both academic and state-funded organizations to create one hundred post-doctoral positions annually, while also promoting investment from biotech venture capital firms.
PIC/S Membership. Taiwan’s membership into the Pharmaceutical Inspection Convention and Pharmaceutical Inspection Cooperation Scheme (PIC/S) as of this past January has helped to boost local drug manufacturing and R&D industries. PIC/S is an informal arrangement between health regulatory authorities which promotes information exchange and quality pharmaceuticals. Together with greater government investment, training of research scientists and increased adherence to international standards through PIC/S membership, Taiwan has a stronger environment for biotech investment and innovation.
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