President Ma Ying-jeou touted the strong performance of Taiwan's biotech industry Thursday, saying that the government will continue to invest in the industry and push for an integrated R&D system. 'The biotech industry is the star industry of the 21st century and is one of the government's priorities in its efforts to lure foreign investment, ' Ma said at the opening of the Taipei International Medical and Healthcare Exhibition at the Taipei World Trade Center. The signing of an economic cooperation framework agreement (ECFA) between Taiwan and China in June helped create a positive investment environment in Taiwan, making it better connected with the global economic players, the president added. He cited government figures showing that the production value of Taiwan's biotech industry in 2009 was NT$210 billion (US$700 million), up 5 percent from 2008. He said the government aims to increase its annual biotech R&D spending to at least 3 percent of the gross domestic product within two years, and hopefully to increase the annual output value of the local biotech sector to more than NT$1 trillion within four years through the creation of biotechnology venture capital funds and incubation centers. The integrated R&D system will be established as early as 2011, Ma said. Wang Chih-kang, chairman of the Taiwan External Trade Development Council (TAITRA), who also attended the opening of the exhibition, said the output value of Taiwan-made hospital equipment and health care products is expected to reach NT$64 billion this year, a jump of 13.1 percent compared with 2009. The total export value of biotech products will also rise by 21.8 percent to NT$39.1 billion in 2010, indicating a strong comeback for the industry amid slow global economic recovery, he predicted. There are 272 exhibitors participating in this year's exhibition, with buyers from 63 countries engaging in talks during the four-day fair that is expected to draw 30,000 local and international visitors, according to TAITRA, the event's co-organizer. 