Taiwan's machine tool mega industry

Taiwan President Chen Shui-bian has announced that the government will develop Taiwan's machine tool industry into a "mega sector" able to generate a production value of NT$1.1 trillion per year by 2009.
Taiwan also aspires to become one of the world's three largest manufacturers and sources of advanced and high-precision machine tools by that year, said Chen in an address at the opening ceremony of the 2007 Taipei International Machine Tool Show (TIMTOS).
He also revealed that the Executive Yuan has set a goal of developing the machinery industry into a "trillion-dollar industry" in its "mega investment, mega warmth" national economic development stimulus project that Premier Su Tseng-chang initiated last October to boost investment in Taiwan, create employment, narrow the urban rural gap and narrow the wealth gap.
Taiwan is currently the world's fourth-largest source of machine tools, exporting products worth NT$96.3 billion in 2006 with an annual growth of 11.5 percent, according to Chen.