TAIPEI (Taiwan News) — Four sectors of the economy will lay the foundations for Taiwan as a research and development center over the next 20 years, Vice Premier Shen Jong-chin (沈榮津) said Friday (Dec. 11).

He named high-end manufacturing, advanced semiconductor production, high-tech, and green energy as the four target sectors identified by the government for economic development, in conjunction with measures to encourage Taiwanese businesses to return and invest in their home country, the Liberty News reported.

Shen described 2020 as a year full of shocks but also of positive surprises. He said economic growth had persisted despite other countries seeing their Gross Domestic Product (GDP) shrink under the onslaught of COVID-19.

Promoting the four sectors will attract more foreign investment and boost the development of local suppliers and other related industries, the vice premier said. He added the science parks in Hsinchu, Central and South Taiwan are reaching saturation point, creating the need for more to guarantee a balance between the country’s various regions.