Use of idle state-owned land boosted by MOF

2014-09-18

More of Taiwan’s idle land is being utilized under a Ministry of Finance program aimed at boosting the national economy and enhancing government finances, according to the MOF Sept. 15.

“The initiative is paying handsome dividends,” said Pien Tyzz-shuh, deputy director-general of the MOF’s National Property Administration. “So far, project contract signings between the central and local governments are expected to generate NT$13.37 billion (US$445 million) in rents and revenues.”

According to Pien, the MOF has completed contracts with local governments on 27 joint development projects nationwide. These partnerships will spur private investment of more than NT$41.3 billion and create 15,000-plus jobs.

One example is a project recently implemented with Taichung City to develop the site of former government dormitory Shen Chi New Village built 45 years ago in the west of the central Taiwan metropolis. A total of 12 buildings on a 2,574-square-meter plot will be leased to cultural and creative businesses. The project is estimated to attract investment of around NT$21 million, with commercial value estimated at NT$500 million.

Pien said a plan to develop the remainder of the site in conjunction with Taichung City Government and National Chung Hsing University is close to finalization.

“Part of the undertaking involves encouraging youth microbusinesses and eventually incorporating them into the rest of the development. We are confident these efforts will give the local and national economies a welcome shot in the arm.”

With four development projects scheduled to for contract signing by year-end, Pien said the program is on the right track. “Another 24 projects are in an advanced stage of review, further underscoring the potential of the initiative.”

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=221738&CtNode=413)