NDC responds to AmCham Taipei business climate survey

2018/03/09

The government is working to amend relevant labor laws, maintain a stable supply of power and strengthen communication with overseas-based firms so as to bring Taiwan’s regulatory and business environment more in line with international standards, according to the Cabinet-level National Development Council March 7.
 
 Examples in this regard are the promulgation last month of the Act for the Recruitment and Employment of Foreign Professionals and recent amendments to the Labor Standards Act, the NDC said, adding that others include fast-tracking safety and system improvements at power stations and promoting renewable energy.
 
 The NDC’s remarks follow the release of the 2018 Business Climate Survey earlier the same day by the American Chamber of Commerce in Taipei. Conducted between Jan. 10 and Feb. 23, the survey involves 198 AmCham members and serves as reference for the Taiwan government in setting economic policy directions.
 
 According to the survey, AmCham Taipei members have deep roots in Taiwan, with two-thirds of respondents working for firms that have been operating in the country for more than two decades. About 55 percent are confident about Taiwan’s economic outlook for the year.
 
 AmCham Taipei Chairman Albert Chang said the “executives are eager to strengthen their partnership with the government and local businesses to secure Taiwan’s stability and profitability.”
 
The survey found that more than 80 percent expressed optimism about revenue growth for 2018, with nearly 40 percent intending to increase employee headcount.
 
 AmCham Taipei President William Foreman said another key finding is that the objectives of the membership are aligned with the government’s vision in many ways. A majority regard the five-plus-two innovative industries initiative and Forward-looking Infrastructure Development Program as likely to benefit Taiwan’s economic development, he added.
 
 At the vanguard of government efforts to revitalize the economy, the five-plus-two innovative industries initiative targets the five emerging and high-growth sectors of biotech and pharmaceuticals, green energy, national defense, smart machinery and Internet of Things, as well as focuses on promotion of two core concepts: circular economy and a new paradigm for agricultural development. The FIDP is a far-reaching program designed to address the nation’s key infrastructure needs over the next 30 years.
 
 Founded in 1957, AmCham Taipei is a nonprofit business organization comprising more than 1,000 members representing over 500 companies.

Source: Taiwan Today (https://taiwantoday.tw/news.php?unit=6&post=130594)