NDC responds to AmCham 2016 business survey

2016/01/21

Improving Taiwan’s business environment through administrative reform remains a key policy priority of the ROC government, according to the National Development Council Jan. 19.

“All agencies are addressing concerns raised by local and foreign business associations in their annual policy suggestions,” an official from the NDC said.

“Greater effort will be put into bringing local procedures in line with international standards, easing restrictions on recruiting talents from abroad and providing ample notice of relevant changes to foreign firms in country.”

The NDC response followed the release of the 2016 Business Climate Survey by the American Chamber of Commerce in Taipei earlier the same day.

AmCham Taipei Chairman Dan Silver said the results confirm Taiwan is a good place to do business, with 67 percent of the 208 companies surveyed reporting corporate profits and 51 percent expanding employment.

The executives are similarly positive about the quality of life in Taiwan, Silver added, citing the easy lifestyle, friendliness of the people and safe environment as the top three attractions.

According to the poll, 47 percent of respondents expressed optimism about the five-year business outlook, down 13 percentage points from the year before to the lowest on record since the business organization began conducting the annual survey in 2010.

Inadequate or outdated laws were identified as the leading factor impacting business operations, followed by inconsistent regulatory interpretations, fluctuating local demand, bureaucratic red tape and insufficient notice before changes to laws are introduced, among others.

With a view toward preparing Taiwan’s prospective bid for participation in the Trans-Pacific Partnership, Silver said the “current government has already been seeking to bring Taiwan’s regulatory procedures more fully in line with standard international practices.”

A total of 60 percent of respondents believe Taiwan is capable of meeting the high standards for joining the trade bloc, with 87 percent backing Taiwan’s bid and calling for U.S. government support in order to avoid economic marginalization.

AmCham also highlighted its concern about the state of Taiwan’s domestic demand, urging the government to introduce programs and policies boosting consumption.

While most of the respondents are impressed by Taiwan’s dedicated and trustworthy work force, “deficiencies in the quantity and quality of available human resources continue to be one of the higher risk factors confronting Taiwan-based businesses,” the survey said.

Concerning the ROC presidential election, Silver said AmCham hopes the transition period will not slow process of reform, and that the new government will keep its shoulder to the grindstone in this regard.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=241456&ctNode=2194&mp=9)