Taiwan ups social enterprise support efforts

2014-08-18

An interministerial program is set to kick off at year-end further bolstering the development of Taiwan social enterprises, Premier Jiang Yi-huah said Aug. 13 in Taipei City.

“The initiative, the first of its kind in the nation, is testament to the government’s commitment to providing comprehensive support for social enterprises,” he said. “The government will extend these entities loans, advisory support and other forms of assistance.”

According to Jiang, the program is expected to be greenlighted by the Cabinet by the end of this month. It draws upon the expertise and resources of the Ministry of Economic Affairs, Ministry of Finance and other related agencies.

A key measure under the initiative is exempting one-third of an enterprise’s profits from employee sharing schemes or stockholder dividends. “We expect this measure to free up funds for these enterprises so they can implement more projects and tackle a wider range of social issues, he said.

The program also offers government property at affordable rents; organizes public banking institutions to provide loans; arranges assistance in cultivating human resources; and encourages socially responsible firms to purchase products and offer other kinds of support.

“After three years of preparation and planning, we expect the initiative to solve many social problems and spur domestic employment,” Jiang said.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=220694&CtNode=413)