“Invest in Taiwan, Gain Global Reach,” said Premier Wu Den-yih, because “it is the best choice for investors at home or abroad.”
A significant aspect of Taiwan’s economic scenario is the fact that both the government and the private sectors act as parallel bars for the smooth functioning of government-related operations, with none of the bureaucratic hurdles that investors normally face in other countries. High productivity and global competitiveness are not just confined to Taiwan’s private sector but percolate down the rungs of the government ladder as acknowledged by World Competitiveness Scoreboard 2010.
Pointing out that “We welcome investment in Taiwan by those with foresight and the capability to integrate innovation,” the premier said every effort is being made to tap investment based on President Ma Ying-jeou’s economic strategy to “grow Taiwan, link with the Asia-Pacific, and go global.”
Speaking at an investor solicitation conference on Aug. 23, he said the thrust of their effort is to create an investor-friendly climate to promote growth with peace and stability. The ultimate goal, which is part of the government’s economic strategy, envisages Taiwan as a magnet for investors with a vision and a mission.
The premier stated that while Taiwan has suffered a string of natural disasters during the past few years, the government and the public have jointly exercised wisdom to weather these challenges and create miracles of economic and political development.
Many important policies have been adopted and investment barriers eliminated in pursuit of economic breakthroughs and planned development for the public and industrial sector. These include laying a more stable foundation for peaceful cross-strait relations and transforming the relationship from one based on conflict and confrontation in the past to one that can assure a future of stable and peaceful development.
“This gives investors confidence,” he said.
Premier Wu continued: “We have revamped our tax regime, transportation network and living environment so that investors keen to invest in Taiwan make it their developmental base.”
He referred to the adoption of the Industrial Innovation Act, the commencement of direct flights and shipping between Taiwan and mainland China, and a reduction in the business income tax from 25 percent to 17 percent among the measures in this regard.
Regarding the effort to boost government efficiency, Premier Wu pointed out that Taiwan jumped to eighth place in Switzerland-based IMD’s World Competitiveness Scoreboard 2010 rankings. The competitiveness of Taiwan’s government agencies rose to sixth place, even higher than Taiwan’s overall competitiveness ranking.
“This indicates that the government, rather than being a drag on national competitiveness, is actually one of its drivers,” he declared.
