SME business climate set for transformation, upgrade in Taiwan

2018/03/21

Creating a more favorable business climate for small and medium enterprises in Taiwan is one of the government’s top policymaking priorities as it advances industrial development, according to Premier Lai Ching-te.
 
 In the digital economy era, the onus is on the government to attract investors, boost the economy, remove barriers to investment and resolve key problems, Lai said. This approach is central to SMEs becoming more competitive through the adoption of smart technology applications and pursuit of innovation, he added.
 
 To this end, the premier directed the Ministry of Economic Affairs to continue providing multilevel guidance and present an action plan within one month. No time can be wasted in devising ways of effectively assisting in the transformation and upgrade of SMEs, he said.
 
 Lai made the remarks during a March 15 interagency meeting on accelerating investment. In addition to presentations on issues pertaining to SMEs, which comprise nearly 98 percent of businesses in Taiwan, participants were brought up to speed on progress relating to railway construction and maintenance key performance indicators as well as deregulation.
 
 Regarding railway KPIs, the premier said 38 specific plans are targeted for promotion under the Forward-looking Infrastructure Development Program. Even as the government vigorously encourages railway construction, consideration is also given to matters like boosting domestic technological capabilities for operating networks, as well as developing the rail industry as a whole, he added.
 
 Running from September 2017 to August 2021, the NT$420 billion (US$14.4 billion) FIDP aims to meet Taiwan’s development needs for the next 30 years. It comprises eight categories: aquatic environments to build resilience against climate change, child care facilities to address declining birthrates, digitalization to create a connected nation, food safety to protect consumers’ health, green energy to ensure environmental sustainability, human resources to boost employment, railway development to provide convenient and safe transportation and urban-rural projects to balance regional development.
 
 According to Lai, keeping Taiwan’s rail industry moving forward is of paramount importance. The MOEA, Ministry of Transportation and Communications and Public Construction Commission will help achieve this goal by drafting policies covering the establishment of standards for related products, supply and demand, and promoting the broader participation of local firms in railway project tenders, he said.
 
 On the deregulation front, the premier said all reviews and reforms must be carried out with a view to boosting economic activity and meeting the needs of businesses and the public. Where appropriate, the regulatory framework should be relaxed to optimize the overall investment environment in Taiwan, he added.

Source: Taiwan Today (https://taiwantoday.tw/news.php?unit=6&post=131284)