Biotech in Taiwan

The outlook for Taiwan's biotechnology sector in the second half of this year is encouraging, and investment for the whole of 2004 is expected to exceed the average level in recent years, according to forecasts by a government unit.

The Industrial Technology Information Service (ITIS) under the Ministry of Economic Affairs (MOEA) estimated that investment to be channeled into the domestic industry will top NT$20 billion (US$593.5 million) -- the average level for the last three years -- for the whole of 2004. The ITIS made the estimate on the grounds that investor willingness in the industry is strong, pointing to surveys as proof.

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