Taiwan is exploiting its advantage in research and development (R&D) to further develop its fishery sector and create more products from certain fish species, such as tilapia (St. Peter’s fish).
Taiwan’s technique in cultivating tilapia is originally from the Philippines. While it is a known tuna-consuming nation, Taiwan has developed and put into practice various techniques in the propagation, culture and spawning of various fish species including grouper, snapper, mullet and sea bream.
The small island nation has also found better ways of producing other marine species, such as shrimps, crabs and seaweeds, oyster, mussels, abalone in its bid to meet domestic demand and that of the export market.
Inspired by the success of tilapia’s by-products, Taiwan is now looking into developing other marine species for medical purposes.
Tilapia, as the Taiwanese also call it, is a freshwater fish that abounds in the Philippines. Taiwan is also actively propagating bangus or milkfish.
Based on the research of the Fisheries Research Institute (FRI) of Taiwan’s Council of Agriculture, tilapia skin can be used as a detoxifying, antiaging and rejuvenating element. Taiwan was able to develop and sell skin-care products using tilapia skin.
FRI Director General Chen June-ru said Taiwan has developed 11 tilapia species and allowed the island nation to produce an average of 67,000 metric tons a year.
“[Tilapia] is very easy to reproduce,” said Chen, adding that it only takes four months for the fish to grow from fingerling to harvest size.
Other innovations
Taiwan is also propping up its semiconductor and information-technology industries in its bid to convince investors affected by the trade row between the United States and China to return to the island nation.
Connie Chang, director general
of the Department of Overall Planning at Taiwan’s National Development Council,
said at least 150 firms in the semiconductor business have already made plans
to put up their
offices and production unit in or transfer to Taiwan in two years.
Most, if not all, of the relocating companies are from China, and have been affected by the raging trade war between two of the biggest economies in the world, which also benefited Vietnam.
Chang said many of the companies that may return to Taiwan are concerned about China’s requirement to transfer technology and its intellectual-property violations—two of the charges hurled by the Trump administration against Beijing.
“A lot of them [companies] would come back to Taiwan,” said the Taiwanese official.
Chang added that Taipei has embarked on the long-term development of the island nation’s manufacturing sector to make Taiwan more business-friendly.
While Taiwan holds the record in chip production and in information technology, its dominance in these areas have been challenged or even surpassed not too long ago by China and South Korea.
Taiwan’s robust semiconductor production and IT development were principally behind the country’s average growth rate of 3.6 percent, its ranking as one of the top 4 “super innovators” and its listing into the top 3 countries with the biggest volume output.
It has also been categorized as one of the largest holders of foreign reserves and was among the world’s top importer and exporter of goods.
If its record is challenged in the integrated circuit production, especially by China, this is because of Beijing’s cheap labor, Chang told the BusinessMirror and other papers that visited Taiwan last week.
In October, Taiwan launched the 639,180 square feet Startup Terrace which features state-of-the-art buildings and facilities in its bid to the island nation into a leading “innovation service provider” in Asia-Pacific.
The innovation-driven village, which also hopes to develop Linkou into a smart city, offers housing, co-working space, an exhibition center and modern facilities for both domestic and international start-ups.
Apart from the Startup Terrace, aspiring entrepreneurs will also be given grants.
The Startup Terrace has already notched an occupancy rate of 91 percent and hosted 132 firms, which included next-generation retail stores.
Image credits: Rene Acosta