The National Development Council yesterday proposed a slate of policies that it said would bolster private sector investments in Taiwan.
A raft of initiatives focused on three areas — stimulating industrial investment opportunities, ensuring an abundant supply of industrial talent, and promoting investment in national infrastructure and several key industries — were included in the report the council presented to the legislature’s Economics Committee.
The report comes after a forecast from the Directorate-General of Budget, Accounting and Statistics (DGBAS) saying that Taiwan’s private investment growth could reach 1.52 percent this year, as domestic semiconductor businesses expand their research and development, and production processes.
Photo: Wu Hsin-tien, Taipei Times
The DGBAS’ forecast was also based on businesses continuing to invest in renewable energy and carbon-reducing equipment as they move toward net zero goals, the council said.
The policy on stimulating investment opportunities would include promoting the development of major industries, and small and medium-sized enterprises, as well as creating an ecosystem for innovation and entrepreneurship, the council said.
Consultation services and guidance for new start-ups would also be provided, while a NT$10 billion (US$307.17 million) fund is to be allocated by the Ministry of Digital Affairs to support projects related to the local digital industry, it said.
Meanwhile, ongoing efforts are being made to relax the rules on work permits, residency, taxation and social security to attract and retain international talent working in Taiwan, the council said.
To entice private businesses to invest in national infrastructure and key industries, the measures would include providing financial assistance and issuing real-estate investment trusts to enhance the effective use of national resources, the council said.
In addition, the government would continue to enhance the domestic investment environment while building upon existing strengths in semiconductors and information technology to promote Taiwan’s economy, it said.
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