President Tsai Ing-wen said Monday that the national defense budget will increase once again in the upcoming year in order to facilitate the R&D of indigenous weapons. Tsai was speaking at the unveiling ceremony of a new monument at the ROC Navy headquarters.
The ROC or Republic of China is Taiwan’s official name.
Accompanied by ROC Navy officials, President Tsai Ing-wen unveiled a new monument on Monday. The engravings on the monument represent key warships in the fleet.
Tsai said the country will continue to press forward with building its own warships in spite of the many challenges involved. She said breakthroughs have been made by integrating domestic military know-how and collaborating with international experts.
Tsai also said that the defense budget for next year will see an increase of NT$18.3 billion (US$ 600 million) to a total of NT$346 billion (US$ 11.3 billion), accounting for 2.16% of Taiwan’s total GDP. She said that the increase will help boost the military’s combat capability and accelerate the process of building an indigenous military.
Tsai also said that the navy’s capability is crucial for an island like Taiwan, and that she will stand with the navy to defend Taiwan’s maritime rights.