TAIPEI - The government will undertake a comprehensive review of current financial regulations and make an active effort to liberalize the nation’s laws in order to create a friendly business environment for foreign investors, the Executive Yuan announced Sunday.
Officials with the Cabinet-level Council for Economic Planning and Development added that the present administration has been loosening the nation’s financial regulations in two stages.
In the first stage, now completed, the nation’s overall investment environment was adjusted to meet the needs of foreign investors “in general,” the officials said. During the second stage, the needs of investors from specific industries will be evaluated and changed if necessary.
“The government will take into consideration the development needs of specific industries and work on plans to loosen relevant restrictions,” said the Executive Yuan, adding that “ministries will set up a one-stop window and a special committee for the issue.”
During the first wave of liberalization, private industry representatives suggested that the government establish free trade zones, allow private for-profit hospitals to be set up, loosen regulations relating to cloud computing internet data centers, and push for urban renewal projects similar to the Roppongi Hills project in Japan.
An investment-promotion delegation, led by Minister without Portfolio Yiin Chii-ming, returned to Taiwan Aug. 1 after concluding a successful trip to Japan. The delegation signed four separate memorandums of understanding with Kodansha Ltd. of Japan, the Electronic Book Publishers Association of Japan, Sony Inc. and FIS Corp.
An official from the Ministry of Economic Affairs said it was not an easy task reaching an agreement with the EBPAJ, which represents the interests of 37 publishers. The MOU signed with EBPAJ is the most comprehensive one of its kind that has ever been reached between Taiwan and the e-book industry of Japan. – Agencies