New Economic Affairs Minister Kung Ming-Hsin Charts Path Toward an "Everlasting Economy"

The Ministry of Economic Affairs (MOEA) held a handover ceremony this morning, officially appointing Ming-Hsin Kung as the new Minister of Economic Affairs. In his inaugural remarks, Minister Kung emphasized that, building upon the existing foundation, he will prioritize three core policy directions: strengthening the nation's economic infrastructure, advancing the diversified development of micro-, small and medium-sized enterprises (MSMEs), and further promoting forward-looking technology industries. He pledged to work hand in hand with all colleagues to address global economic and trade challenges and to open a new chapter for Taiwan's economic development.

In the remarks at the ceremony, Minister without Portfolio Yung-Cheng Ma, who served as the officer chairing the handover process, noted that the MOEA is one of the largest and most important agencies under the Executive Yuan. On behalf of the Executive Yuan, he expressed appreciation to outgoing Minister Kuo for leading the MOEA in helping Taiwan maintain its global leadership in sectors such as semiconductors, thereby demonstrating strong economic resilience. Speaking of the new Minister, Ma highlighted that Minister Kung previously served in the MOEA and is deeply familiar with its operations. With his professional expertise and extensive experience, Ma expressed confidence that under Minister Kung's leadership, the MOEA will build on past achievements to advance critical policies. He further called on all MOEA colleagues to fully support the new Minister in working together toward Taiwan's continued economic prosperity.

In his address, newly appointed Minister Kung began by describing his return to the MOEA as "coming home," and expressed his heartfelt gratitude and respect to former Minister Kuo for his dedicated service. He noted that during the past fifteen months, Minister Kuo successfully led the MOEA in overcoming both international and domestic challenges. Building on this strong foundation, Minister Kung pledged to further deepen and expand policy initiatives to ensure stability and continuity in the MOEA's governance.

Looking ahead, the MOEA will focus on three major policy directions. First, it will strengthen the nation's economic development infrastructure, advancing carbon reduction initiatives and ensuring stable water and power supply. In response to the challenges of extreme climate events, the MOEA will also prioritize the effective implementation of flood control policies. Minister Kung highlighted that Premier Cho Jung-tai has already allocated increased funding for flood prevention in the coming fiscal year to enhance national resilience as swiftly as possible.

Secondly, the MOEA will promote a diversified development program for MSMEs. These enterprises, together with traditional industries, form the foundation of Taiwan's economic development, and the MOEA will remain a steadfast partner to them. Despite the challenges of the U.S.-China trade tensions and the pandemic in recent years, these industries have demonstrated remarkable resilience in overcoming difficulties. The MOEA will continue to support MSMEs in adopting upgrades and transformation initiatives, including the integration of AI, to enhance the global competitiveness of Taiwan's industries.

Third, the MOEA will continue to advance the forward-looking development of Taiwan's technology industries. Over the past nine years, through the "Three Major Programs for Investing in Taiwan" and strategic technology initiatives, Taiwan has become an indispensable link in the global supply chain. Looking ahead, we aim to strengthen the international positioning of high-tech industries, extending Taiwan's economic vitality worldwide and building an "everlasting economy" In addition, the MOEA's affiliated research institutions will be encouraged to play a more proactive role in R&D planning. While certain projects, such as the development of unmanned aerial vehicles, may not be immediately profit-driven, they are closely tied to national security and hold the potential to generate significant commercial opportunities in the future.

Finally, Minister Kung shared a gift he received from Premier Cho, inscribed with the words "Economy First, A Long Road Ahead." He emphasized that this message represents not only the Premier's personal expectations of him but also clear guidance for the entire MOEA. Echoing the President's "Four Priorities," of which economic development is a central pillar, Minister Kung underscored that the MOEA bears an unshirkable responsibility for any initiative that advances Taiwan's economy. He called on all colleagues to work together to write a new and distinguished chapter for Taiwan's economic development.