The European Chamber of Commerce Taiwan (ECCT) yesterday urged the government to speed up energy transformation, attract and retain talent, and enhance conditions for developing innovative technologies.
Taiwan has navigated the COVID-19 pandemic well, and the economy has benefited from the acceleration of digitalization and a shift to remote working, but the nation needs a different strategy now, said the chamber, which released its annual position yesterday.
“While other countries are opening up, Taiwan’s continued isolation risks leaving it behind in the contest for international talent, trade and investment,” ECCT chairman Henry Chang (張瀚書) said.
Photo courtesy of Taoyuan International Airport Corp
Border restrictions should be phased out gradually, starting with a pathway for business-critical positions rather than a case-by-case review process, the chamber said.
The government should establish clear entry criteria to allow businesses to sustain their operations and facilitate talent flow, it said.
Taiwan was seen as a relatively safe haven during the pandemic, which helped attract overseas Taiwanese and foreign talent to Taiwan, it said, adding that this advantage would soon be gone.
Changes in Taiwan’s labor laws could help by exempting remote workers from the requirement to record working hours and attendance records, and create a new category of workers that is neither an employee nor an independent contractor, the paper said.
Authorities should also lower thresholds for the Employment Gold Card scheme, grant three-year work permits to all qualified foreign professionals and introduce 90-day business visas for foreign professionals, rather than requiring them to go through the lengthy process of applying for a work permit, it said.
In addition, the ECCT welcomed the government’s commitment to a net-zero target by 2050 and advised it to develop a roadmap for energy transformation in collaboration with all stakeholders.
Currently, government agencies operate in silos without due consideration of the big picture and how their actions might hamper those of others, the chamber said.
“Cross-ministerial leadership and coordination are essential to ensure a smooth energy transformation,” it said.
The roadmap should adopt concrete annual targets for the power sector, industry, mobility and buildings, the chamber said.
Taiwan also boasts some of the world’s best conditions for developing wind and solar energy, but progress toward tapping both sources has been slow, owing to local content requirements and red tape, it said.
Authorities should stop adding to already tough-to-meet local content requirements, and instead streamline procedures for renewable energy projects, it said.
JPMorgan Chase & Co chief executive officer Jamie Dimon on Tuesday quipped that his company is likely to outlast the Chinese Communist Party (CCP), while reiterating the bank’s commitment to the country in wide-ranging comments that also touched on Taiwan, free speech and former US president Donald Trump. “We hope to be there [in China] for a long time,” Dimon told a panel discussion at the Boston College Chief Executives Club. Relaying a “joke” he made during a recent visit to Hong Kong, he said “The communist party is celebrating its 100th year. So is JPMorgan. And I’ll make you a
PharmaEssentia Corp (藥華醫藥) shares have jumped 80.56 percent since the company obtained a US polycythemia vera (PV) drug license for its new interferon drug Besremi (ropeginterferon alfa-2b-njft) on Nov. 12. Shares on Friday closed at NT$195 in Taipei trading, up from the stock’s closing price of NT$108 on Nov. 12. PV is a rare, chronic and life-threatening blood cancer linked to a stem cell mutation in the bone marrow that results in an overproduction of blood cells and places sufferers at risk of having a blood clot, stroke or heart attack. PharmaEssentia is preparing to make Besremi available in the US in the
The Kaohsiung City Government yesterday said it would impose a property hoarding tax as it is seeking to contain speculation in the real-estate market, calling recent price increases “abnormal.” The announcement came in support of the Ministry of Finance’s call for local governments to levy a high tax rate on people with more than one property. Ministry officials on Tuesday discussed strategies to rein in speculation with the nation’s six special municipalities, as well as the Hsinchu city and county governments. About 84,000 out of 1.06 million housing units in Kaohsiung are not residential property, the city government said in a
BOOST EXPECTED: Higher market prices would offset effects of the industry’s transition to more climate-friendly production methods, a company official said China Steel Corp (CSC, 中鋼) expects steel demand to increase on the back of governments around the world subsidizing infrastructure construction amid a stabilizing COVID-19 pandemic, CSC chairman Wong Chao-tung (翁朝棟) told an investors’ meeting yesterday. “After getting through the hard times, I foresee at least one year, very possibly two years, of strong steel market,” Wong said. Calling a dip in steel prices a “short respite for the market,” Wong said that it would likely bounce back early next year on the back of mild winter temperatures around the world allowing construction activity. Despite COVID-19 spikes in some regions and increased