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Taiwan to prioritize eliminating investment barriers: president
Central News Agency
2012-10-10 01:10 PM
Taipei, Oct. 10 (CNA) President Ma Ying-jeou said Wednesday that the government will relax restrictions on the level of foreign investment in certain industrial sectors in Taiwan, declaring that liberalized policies will become the norm. "In the future, liberalized policies will become the norm, and barriers the exception," the president said, but he vowed that the policies will not put Taiwan's interests at risk. "In relaxing restrictions on the investment of foreign capital in Taiwan's industries, we will be sure to continue to safeguard our national security and interests," Ma stressed during his National Day address in a ceremony outside the Presidential Office. Ma said that Taiwan recently placed fourth in an international research organization's global ranking of countries' investment climates, but he pledged that the government will continue efforts to clear investment obstacles and achieve a better regional balance in Taiwan's overall infrastructure. He spoke of several development projects around Taiwan, including the Taoyuan Aerotropolis Project in northern Taiwan, which is expected to generate NT$2.3 trillion (US$78.23 billion) in economic activity and create 260,000 jobs. In central Taiwan, the Taichung Software Park and the Taichung City Precision Machinery Science and Technology Innovation Park "are already underway," Ma said. He also spoke of the Hualien-Taitung Line Electrification Project and the Double-Tracking Project in eastern Taiwan that will reduce travel time between Taipei and Taitung to three and a half hours when completed at the end of next year. The president also touched on tourism, setting a goal of "attracting 10 million visits from overseas in 2016." Noting that boosting employment is of great concern, Ma vowed to "nurture a more favorable business environment in Taiwan to help generate jobs," the president said. "Once domestic and foreign investment grow, the economy will thrive, and the number of jobs will increase," he said. The president said that although Taiwan's economy has grown over the past dozen years, many people have seen their salaries remain stagnant, and "they are naturally unhappy about it." "To resolve this difficult situation, our industries must move toward higher value-added development. Only then will labor productivity increase and salary levels rise," Ma said. The president added that Taiwan must also reposition itself in the international economic and trade system and restructure its industries accordingly to create a new economic model for Taiwan. (By Angela Tsai and Lilian Wu)
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