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Ex-vice president touts urban renewal to spur economy
Taiwan News, Staff Writer
2014-03-17 03:32 PM

Former Vice President Vincent C. Siew touted three solutions to promote economic transformation at an economic forum Sunday held by Nan Shan Life Insurance Co. These solutions include urban renewal, regulatory reform, and joining regional trade bloc.

Siew has been promoting economic and trade liberalization. In the forum, Siew pointed out the problems such as domestic regulations not in line with international standards, especially in the aspects of environmental protection, tax, trade, and labor; isolation from global economic and trade networks; and structural stagnation. To tackle economic problems, Siew delivered solutions including joining Trans-Pacific Partnership Agreement (TPP), Regional Comprehensive Economic Partnership (RCEP), and other regional free trade agreements. Siew also urged the government to roll out a handful of innovation policies and development projects to stimulate growth.

Late last year, Siew led a business delegation to the United States to drum up support for Taiwan’s bids to join the TPP and facilitated a number of business meetings for Taiwanese and the U.S. business leaders in Washington.

Besides, urban renewal came back to spotlight as Siew advised the government to pick up the pace to renewal. Siew expressed concern over the 35-year-old or above apartments or those with poor foundations, which make them vulnerable to massive earthquakes. Siew took Japan as an example to prove the benefits of urban renewal to the economy. By conducting renovations, Tokyo, Osaka, and Nagoya have experienced increasing employments and economic growth along with a brand new urban landscape, said Siew.

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