TAIPEI: Wu Den-yih, who heads the Executive Yuan, said yesterday that Taiwan's gross domestic product for 2010 will rise to 4.9 percent, higher than the estimate by the government's bureau of statistics.

In his policy address to the Legislative Yuan, Wu highlighted the government's plans to achieve economic development.

Citing the latest forecast by Global Insight, Wu said Taiwan economic recovery will be steady and economic growth of 4.9 percent will be achieved this year, higher than the projected average 2.9 percent globally. Taiwan will also surpass the economic growth rates of the United States, Japan, the European Union, Hong Kong, and South Korea this year, he predicted.

He said the Executive Yuan's economic goals for 2010 include lifting Taiwan's ranking in the World Business Environment Survey 10 notches higher than its 46th place standing in 2009.

The Executive Yuan also aims to improve Taiwan's business and investment environment and has set a private investment target of NT$1 trillion ($31.22 billion) this year, he said.

He further expressed hopes that the production value of Taiwan's six main emerging sectors - biotech, green energy, tourism, health care, quality agriculture and cultural innovation - will increase from the projected NT$2.1 trillion for this year to NT$2.8 trillion in 2012 and will provide 152,000 new job opportunities.

Speaking of the government's efforts to sign an economic cooperation framework agreement (ECFA) with the mainland, Wu predicted that the pact will help boost Taiwan's GDP by 1.65 percent to 1.72 percent and produce 257,000 to 263,000 jobs.

The ECFA will "help people do business, and boost Taiwan's competitiveness," Wu said.

China Daily/CNA

(HK Edition 02/24/2010 page4)