A four-year, NT$15.72 billion (US$500.62 million) urban renewal program aimed at enhancing the quality of life Taiwanwide was unveiled March 25 by the Ministry of the Interior.
“The plan will ensure sustainable development for Taiwan given the country’s limited land resources and changing demographics,” an MOI official said. “By tackling problems stemming from urbanization, it is set to deliver housing justice, promote smart city development and spur regional growth.”
Greenlighted by the Cabinet Feb. 26 and overseen by the MOI’s Construction and Planning Agency, the initiative comprises 24 major public projects. These include three in Taipei City on land owned by state-run Taiwan Power Co., three near Taiwan Railways Administration stations in Keelung, Hsinchu and Taichung cities, and one located south of Taipei Municipal Zhongshan Girls’ High School.
In addition, the government will assist in organizing 100 major private projects benefitting 10,000 households through repair and reconstruction programs, as well as subsidize earthquake strengthening, exterior makeovers and elevator installations for 380 properties. The latter caters to special needs of senior citizens, while enhancing public safety and reducing carbon emissions through replacement of outdated facilities.
During implementation, the program is forecast to spur public and private investment of US$205.42 billion, create 35,299 jobs and contribute 0.09 of a percentage point to the nation’s annual economic growth.
The MOI said it will also continue reviewing current regulations to enhance transparency of relevant policymaking and promote public involvement in the overall process.
