NDC unveils policies aimed at bolstering private sector investments

Taipei, July 4 (CNA) The National Development Council (NDC) on Thursday proposed a slate of policies that it said would bolster private sector investments in Taiwan.

In a report presented to the Legislature's Economics Committee, the NDC forwarded a raft of initiatives focused on three areas: stimulating industrial investment opportunities, ensuring an abundant supply of industrial talents and promoting investments in national infrastructure and various key industries.

The report comes after the Directorate General of Budget, Accounting and Statistics (DGBAS) forecast that Taiwan's private investment growth could reach 1.52 percent this year as domestic semiconductor businesses expand their research and development and production processes.

The DGBAS's forecast was also based on businesses continuing to invest in renewable energy and carbon-reducing equipment as they move toward net zero goals, the NDC said.

In the report, the Cabinet-level council said the policy on stimulating investment opportunities would include promoting the development of Taiwan's major industries, small and medium enterprises (SMEs), as well as creating an ecosystem for innovation and entrepreneurship.

Also, consultation services and guidance for new startups would be provided, while a NT$10 billion (US$307.17 million) fund is to be allocated together with the Ministry of Digital Affairs to support projects related to the local digital industry, the NDC said.

Meanwhile, besides recruiting international talent, the NDC said continuing efforts are being made to relax the rules on work permits, residency, taxation, and social security to attract and retain international talent working in Taiwan.

To entice private businesses to invest in national infrastructure and key industries, the council said the measures would include providing financing assistance and issuing real estate investment trusts (REITs) to enhance the effective use of national resources.

The government will continue to enhance the domestic investment environment while building upon existing strengths in semiconductors and information technology to promote Taiwan's innovation-driven economy, the NDC said in the report.