Taiwan moves to spur both Government and private sector investment

TAIPEI – Taiwan must adopt more aggressive measures to address a decline in domestic investment in recent years, according to Premier Lin Chuan, outlining plans to attract additional private capital for public works projects and State-run enterprises.

His comments follow a briefing on an investment expansion programme by Taiwan’s National Development Council. Chuan instructed the NDC to draw up plans without delay for submission to Cabinet.
In the briefing, the NDC attributed Taiwan’s sluggish economy to the global economic cycle and domestic socio-economic restructuring.
As part of efforts to improve the investment environment, the Government is to make land available for lease rather than sale in Taiwan’s industrial and science parks, and to offer qualified companies rent-free periods of two years. Land lease prices in science parks are expected to be lowered by 8.99 per cent on average.
Measures to attract additional private sector investment involve the NDC establishing an NT$100 billion (US$3.1 billion) industrial innovation and transformation fund, as well as the creation of a national investment company focussing on innovative industries.
The national investment company will source its funding and resources from the Cabinet-administered National Development Fund, State-run enterprises and the private sector.
The NDC is also eyeing investment of NT$340 billion by wholly- or partly-owned Government enterprises in public infrastructure and emerging industries. www.taiwantoday.tw (ATI).