NDC responds to 2016 ECCT position papers

2015/11/06

The government is sparing no efforts to strengthen Taiwan’s economic fundamentals so as to upgrade local industries and boost employment, innovation and investment, according to the National Development Council Nov. 3.

A raft of measures is being implemented to ensure regulatory transparency, foster talent and tackle Taiwan’s demographic challenges, NDC Minister Duh Tyzz-jiun said.

The government will continue collaborating with its European partners given their successful experiences in such areas as energy security, medical care implementation and tourism promotion, he added.

The minister made the remarks after receiving the 2016 European Chamber of Commerce Taiwan position papers from the group’s Chairman Bernd Barkey during a luncheon in Taipei City.

In its annual report titled “Decision Time: Taking Courageous Action in Uncertain Times,” the ECCT raised 130 new and unresolved issues spanning better living, the environment, human resources, industry, intellectual property rights and technology.

“Taiwan remains a dynamic economy and attractive place to invest that offers good business opportunities for nimble and flexible enterprises,” the report said, citing good infrastructure, a highly skilled workforce and stable government as some of the country’s strengths.

But the ECCT also highlighted medium and long-term challenges facing Taiwan related to demographic changes, energy security, globalization, health care, infrastructure development, cyber security talent and the environment.

The report proposed several policy recommendations regarding these issues, including making a final decision on the use of nuclear power, establishing a ministry of tourism and taking action to attract more foreign professionals.

“Leading Taiwan through uncertain economic times and dealing with the complex challenges require creative thinking, tough decisions and courageous action on the part of the government,” the report said.

“Authorities should also always bear in mind that Taiwan is part of the global village and must adapt to the challenges of globalization by embracing international trends, standards and the best practices.”

According to the report, EU-Taiwan trade in goods grew 4.1 percent to 40.2 billion euros last year, while trade in services rose by 5.3 percent to 7.9 billion euros in 2013.

Taiwan became the EU’s 19th largest trading partner in 2014, up two places from the previous year. The EU remains Taiwan’s leading source of foreign direct investment, with the cumulative total since 1952 passing US$33.4 billion.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=238507&ctNode=2194&mp=9)