Cabinet launches new task force to tackle economic issues

Taipei, July 17 (CNA) Premier Cho Jung-tai (卓榮泰) on Wednesday announced the establishment of a task force under the Executive Yuan responsible for formulating policies to tackle various economic issues.

The Economic Development Commission under the Executive Yuan will convene for the first time on Thursday to discuss how Taiwan can further attract overseas investors and skilled workers, Cho said at a press conference in Taipei.

The organizational structure of what Cho described as a "task force" set to focus on strengthening the country's economic development will be finalized at Thursday's meeting, according to the Cabinet.

Cho noted that other issues, such as driving innovation, modifying taxation rules, raising salary levels and funding the construction of social housing will also be discussed by the task force in the future.

The new commission is headed by Cho and brings together Vice Premier Cheng Li-chiun (鄭麗君), Executive Yuan Secretary-General Kung Ming-hsin (龔明鑫), and National Development Council head Paul Liu (劉鏡清), as well as other ministerial heads.

Members of the commission are expected to convene once each quarter to set achievable goals for various issues, while outlining substantive steps and timetables for relevant government agencies to accomplish those goals, Cho said.

He said several business executives have also agreed to serve as consultants to the commission, including Chairman of Hon Hai Technology Group Young Liu (劉揚偉), President of Taiwan Mobile Co. Jamie Lin (林之晨), and Paul Hsu (許舒博), chairman of the General Chamber of Commerce of the Republic of China.

The premier added that he hopes inputs from these consultants will guide the government in the right direction and enable swifter and steadier policy implementation.

The commission has been created against the backdrop of volatile global economic and geopolitical situations, Kung said at the press conference.

"We have to be cautious" even though Taiwan's economic outlook is "fairly good," with gross domestic product (GDP) projected to grow by 3.94 percent in 2024, he added.