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TAIPEI : Taiwan's cabinet on Thursday approved infrastructure projects worth nearly four trillion Taiwan dollars (125 billion US), to be rolled out over eight years in a bid to boost its economy.
The government is expected to finance 2.70 trillion and raise another 1.2 trillion from the private sector, a cabinet statement said.
Projects include the expansion of Taoyuan international airport in the north, Kaohsiung harbour in the south and one of the island's largest science parks, located in the centre.
Urban and rural renewal as well as flood prevention are also among the items in the spending plan.
The projects are aimed at upgrading industrial sectors, promoting regional development and boosting job opportunities to invigorate Taiwan's economy, the statement quoted Premier Wu Den-yih as saying.
Taiwan plunged into recession late last year amid the global financial crisis, although its economy has shown signs of improvement in recent months with easing jobless rates and growing export orders.
Taiwan reported a contraction in its gross domestic product of 7.54 percent for the second quarter, following a record 10.13 percent fall in the previous three months. Third-quarter data will be released later Thursday.
- AFP/vm
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