The government should extend relief programs by another three months for all businesses other than urban hotels and travel agencies that continue to struggle due to the nation’s border controls, the General Chamber of Commerce (全國商業總會) said yesterday.
Chamber chairman Lai Cheng-yi (賴正鎰), who owns Taichung-based Shining Group (鄉林集團) and the luxury hotel brand The Lalu (涵碧樓), said that gift shops, pet boarding facilities, tour bus companies, movie theaters and trade show organizers have failed to benefit from an ongoing boom in dining and domestic travel.
“They would have no choice but to shut down if the government keeps border controls and ends wage subsidies,” Lai told a news conference in Taipei.
Photo: Lee Ya-wen, Taipei Times
Those companies depend heavily on international tourist arrivals and authorities should not cut them off while planning to shore up urban hotels and travel agencies, he said.
Revenue has dried up for trade show organizers, while movie theaters have seen their income plunge by 90 percent due to a lack of supply of new films from abroad, Lai said.
The chamber thanked the government for its assistance in the previous three months through low-interest loans and wage subsidies that expired at the end of last month.
However, it is too early to pull the plug, as the government continues to ban foreign tourist arrivals and locals from traveling abroad, Lai said.
The unemployment rate is very likely to spike if authorities slam the brakes on the relief program without introducing supporting measures, the chamber said.
Service providers hire more workers in Taiwan than manufacturing companies, which appear to command more attention from policymakers, Lai said.
It is time the government adopts a balanced economic development approach that would take care of all, he added.
“A balanced approach is urgent and critical as the virus outbreak is reshaping people’s behavior... Some jobs might be lost forever and policy directions are badly needed to help companies transform and survive,” Lai said.
All government agencies should be involved in this mission, instead of being limited to transportation and economic officials, the chamber said.
Taiwan should raise its tolerance level and ease restrictions on inbound travelers on the condition that it would not strain the public health system, Lai said.
South Korea and China have granted business travelers speedy passes on a reciprocal basis and Taiwan should seek a similar arrangement given its close economic links with China, he added.
TECH BOOST: New TSMC wafer fabs in Arizona are to dramatically improve US advanced chip production, a report by market research firm TrendForce said With Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) pouring large funds into Arizona, the US is expected to see an improvement in its status to become the second-largest maker of advanced semiconductors in 2027, Taipei-based market researcher TrendForce Corp (集邦科技) said in a report last week. TrendForce estimates the US would account for a 21 percent share in the global advanced integrated circuit (IC) production market by 2027, sharply up from the current 9 percent, as TSMC is investing US$65 billion to build three wafer fabs in Arizona, the report said. TrendForce defined the advanced chipmaking processes as the 7-nanometer process or more
China’s Huawei Technologies Co (華為) plans to start mass-producing its most advanced artificial intelligence (AI) chip in the first quarter of next year, even as it struggles to make enough chips due to US restrictions, two people familiar with the matter said. The telecoms conglomerate has sent samples of the Ascend 910C — its newest chip, meant to rival those made by US chipmaker Nvidia Corp — to some technology firms and started taking orders, the sources told Reuters. The 910C is being made by top Chinese contract chipmaker Semiconductor Manufacturing International Corp (SMIC, 中芯) on its N+2 process, but a lack
Who would not want a social media audience that grows without new content? During the three years she paused production of her short do-it-yourself (DIY) farmer’s lifestyle videos, Chinese vlogger Li Ziqi (李子柒), 34, has seen her YouTube subscribers increase to 20.2 million from about 14 million. While YouTube is banned in China, her fan base there — although not the size of YouTube’s MrBeast, who has 330 million subscribers — is close to 100 million across the country’s social media platforms Douyin (抖音), Sina Weibo (新浪微博) and Xiaohongshu (小紅書). When Li finally released new videos last week — ending what has
OPEN SCIENCE: International collaboration on math and science will persevere even if the incoming Trump administration imposes strict controls, Nvidia’s CEO said Nvidia Corp CEO Jensen Huang (黃仁勳) said on Saturday that global cooperation in technology would continue even if the incoming US administration imposes stricter export controls on advanced computing products. US president-elect Donald Trump, in his first term in office, imposed restrictions on the sale of US technology to China citing national security — a policy continued under US President Joe Biden. The curbs forced Nvidia, the world’s leading maker of chips used for artificial intelligence (AI) applications, to change its product lineup in China. The US chipmaking giant last week reported record-high quarterly revenue on the back of strong AI chip