Vice President Lai Ching-te praises contributions of Taiwan’s biotechnology and medical care industries during the IBMI annual assembly Jan. 4 in Taipei City. (Courtesy of Presidential Office)

Vice President La Ching-te praised Taiwan’s biotechnology and medical care industries Jan. 4 for playing a critical role in safeguarding public well-being and spurring Taiwan’s economic development.

During the annual assembly of Taipei City-based Institute for Biotechnology and Medicine Industry held in the capital, the vice president said IBMI has served as a bridge connecting the public and private sectors.

According to Lai, IBMI has been working closely with the government from the onset of COVID-19, providing key policy suggestions and charting development strategies for Taiwan’s health-related industries in the post-pandemic era.

Among the organization’s outstanding contributions is a recently patented humanized COVID-19 decoy antibody with great potential to prevent infection, Lai said. The advancement, discovered by a team headed by IBMI Vice President Dr. Yang Pan-chyr, reflects the strength of Taiwan’s R&D capabilities, he added.

As the government ramps up efforts under the six core strategic industries initiative, the vice president said he looks forward to further public-private cooperation promoting health-related developments in Taiwan.

Unveiled by President Tsai Ing-wen during her 2020 inauguration, the six core strategic industries comprise information and digital technology; cybersecurity; biotech and medical technology; national defense; green and renewable energy; and strategic stockpile industries.

Founded in 2002 by former Legislative Yuan President Wang Jin-pyng and currently headed by former Academia Sinica President Wong Chi-huey, IBMI comprises leaders of health institutions and research organizations, as well as representatives from key Taiwan industries such as biotechnology, information and communication technology and pharmaceuticals. (SFC-E)