The Executive Yuan yesterday proposed eight policies, dubbed the “Strengthen Taiwan Policies,” to counter the effects of 31 incentives for Taiwanese unveiled by China’s Taiwan Affairs Office.
The eight policies aim to increase benefits for researchers; lend more momentum to innovative industries; boost employee rewards and benefits; improve the work environment of medical professionals; enhance protection against corporate espionage; ramp up industrial innovation and transformation; boost the momentum of Taiwanese stocks; and deepen investment in the development of the film industry, Vice Premier Shih Jun-ji (施俊吉) told a news conference at the Executive Yuan.
The policies are to be geared toward four main goals: encouraging quality education and corporate jobs while intensifying efforts to keep talented individuals, as well as recruiting from abroad; maintaining Taiwan’s advantage in the global supply chain; promoting the expansion of the capital market; and strengthening the cultural and film industries, he said.
Photo: Peter Lo, Taipei Times.
Taiwan will become a top nation that will be attractive to talented individuals worldwide, will have a healthy economy and become strong, all based on liberty, democracy and the rule of law, he added.
China’s policies are aimed at siphoning off Taiwan’s capital and locally educated talent, which shows an evident political motive, Shih said, adding that the government must handle this issue practically and seriously.
“With a strong Taiwan, we will fear no challenge,” Shih said.
At least 15 items of the eight policies are to be implemented by the Cabinet and its various agencies this year.
To improve local stocks’ global visibility, the Cabinet said it would increase reviews for initial public offerings and cut down the review time from eight weeks to six.
Overseas subsidiaries of listed local companies would be encouraged to base themselves and list in Taiwan, the Cabinet said, adding that it would also promote the inclusion of 30 companies in an MSCI index to attract more international investment.
Measures to prevent corporate secrets from being leaked to China would include amendments to the Trade Secrets Act (營業秘密法) to establish a “retention of corporate secrets” system and punishments for related criminal activity for breaking such laws, it added.
To accelerate industrial innovation and transformation, the Cabinet said it would subsidize corporations’ purchases of “smart” machinery and software that would help them maintain a competitive edge.
It added that it would provide assistance to facilitate strategic alliances between Taiwanese industries and international corporations to further bolster the nation’s edge in the global supply chain.
Separately yesterday, Premier William Lai (賴清德) said the Cabinet would refer to China’s new policies — which Beijing has termed “incentives for Taiwan” — as simply “measures” to avoid playing along with China’s rhetoric.
As long as Taiwanese can demonstrate solidarity and bolster the nation’s economy on the foundation they have built, the nation will attract more talent and increase its global presence, Lai said.
Additional reporting by Sean Lin and Chen Mei-ying
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source