- President Lai Ching-te pledges to enhance Taiwan’s investment environment
TAIPEI, (TaiwanToday) – The Ministry of Economic Affairs (MOEA) launched a series of measures to help Taiwan businesses operating overseas in response to the increased tariffs imposed by the US on countries such as Canada and Mexico, spotlighting government work to ensure steady growth of the country’s enterprises.
Task forces will be established by Taiwan External Trade Development Council’s (TAITRA) overseas offices in Canada, Mexico, the US, South Asia and Southeast Asia to offer consultations and services, the MOEA said, adding that a hotline has also been set up by TAITRA headquarters. In addition, the MOEA will provide customized services for Taiwan enterprises who are interested in relocation, such as moving to the US to establish factories or moving some of their manufacturing processes to countries like India or in Southeast Asia.
The ministry will provide information on target markets, including local laws and regulations and market opportunities while offering assistance for enterprises to find local partners to cooperate with.
The ministry will also establish an investment and trade service center in the US, the MOEA said, adding that the center will help Taiwan businesses assess the investment environment of various US states, evaluate supply chain shift plans and facilitate matches with local partners.
The Industrial Technology Research Institute International Inc., will promote R&D and manufacturing cooperation between Taiwan and the US, assist Taiwan businesses in carrying out technical cooperation and joint investment plans to enhance competitiveness.
The MOEA will continue to carefully monitor international trade and maintain communication with industries, it said, adding that the ministry will provide timely support to ensure Taiwan enterprises find the best strategies amid global changes.
Meanwhile, president Lai Ching-te said that the government is committed to promoting the Three Major Programs for Investing in Taiwan while sparing no effort to enhance the country’s investment environment.
The president made the remarks while attending a Lunar New Year event in Taipei City for Taiwanese businesses operating in China.
President Lai first praised Taiwan’s impressive economic growth rate of 4.2 percent last year, which surpassed those of the US and EU countries. He said that the government’s three investment programs—the action plan for welcoming overseas Taiwan businesses to return to invest, the action plan for accelerated investment by domestic corporations and the action plan for accelerated investment by small- and medium-sized enterprises—will be extended to 2027.
The government is also promoting investment deduction measures to help more SMEs and startups, Lai said, adding that it is equally important to examine elements such as utilities, land, workforce and talent cultivation. The president also noted that the government is working hard to maintain the stability of the country’s interest rates, exchange rate and inflation rate.
President Lai said he has three main missions, the first of which is to safeguard Taiwan’s sovereignty, and vowed to uphold the Four Commitments proposed by former president Tsai Ing-wen. (The people of #Taiwan are committed to upholding our nation’s sovereignty, democracy, security & prosperity.)
Second, the president bears the responsibility of protecting the lives and property of Taiwan’s 23 million people, Lai said, stressing the importance of global peace. To this end, he cited the Four Pillars of Peace action plan, which involves strengthening national defense, building economic security, deepening partnerships with democratic countries, and maintaining stable and principled cross-strait leadership.
The third mission is to improve the standard of living across the board, Lai said. He outlined a raft of measures spanning minimum wage increases, tax reductions, the national childcare policy for aged 0-6 and the Youth Overseas Dream Fund program, adding that the government will continue to care for the well-being of all segments of society while working with the private sector to bolster Taiwan’s economic growth.
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