Taiwan to highlight security industry in 2005

Jan 26, 2005 Ι Industry In-Focus Ι Furniture Ι By Ken LPM, CENS
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Taipei, Jan. 26, 2005 (CENS)--Ministry of Economic Affairs (MOEA) will make development of security industry a prior agenda and has planned to conclude at least two major investments in the industry this year.

Security industry has become prominent in most countries after the September 11 terrorist attacks in the United States territory. At least nine industrially advanced countries including the United States, Germany and Israel have put the development of the industry on the top of their agendas.

Industrial Development Bureau (IDB) of MOEA hoped Taiwan's security industry to have a revenue totaling NT$130 billion (US$4 billion at US$1:NT$32) in 2008, growing an estimated 1.6 folds from 2007.

Worldwide, the industry posted a revenue of US$80.2 billion in 2000 and annual growth rate of 8.3%.

The Executive Yuan, Taiwan's Cabinet, also listed security industry a topic at an industry strategy conference last year and planned to set up the island's security-industry framework by integrating all government organizations, as well as industrial and academic resources. Based on the idea, IDB recently coordinate local academic and industrial sectors to set up an alliance to push the industry.

IDB officials pointed out that Taiwan's security industry would continuously focus on information-communications security, security monitoring, industrial security and fire security as well as system integration and service segments since the definition of the industry is ambitious.

They said the four industrial segments had a total revenue of NT$51 billion (US$1.6 billion) in 2003, rising 13% year-on-year. Of the four, information-communications security and monitoring security segments posted a 26% and 14.5% growth, respectively, making them the most potential security business in Taiwan.

The top priority of IDB's security-industry development plan for this year is setting up an office to push the industry, studying industry information, cultivating talents and setting up a mechanism to verify industry products.
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