Taiwan’s economy remains ship-shape due to central government measures aimed at helping the country weather continuing global uncertainties, ROC Vice Premier Sean Chen said Jan. 4.
One such initiative, Chen said, was the Ministry of Transportation and Communication’s NT$9.07 billion (US$300 million) investment in the construction of two passenger terminals in Keelung and Kaohsiung ports.
“These facilities are necessary to prepare for an increasing number of visitors set to arrive in Taiwan as a result of an uptick in cross-strait cruise ship activity.”
Chen’s remarks came during a weekly task force meeting at which government agencies and ministries reported on the results of projects designed to realign Taiwan’s economy in response to developments at home and abroad.
According to the vice premier, the MOTC investment reflects Taipei and Beijing’s decision to permit international cruise lines to travel across the strait. “These facilities, along with other urban renewal projects, will also help promote Taiwan’s construction, retailing and shipping sectors,” he said.
Maintaining market stability remains one of the task force’s priorities, Chen said, who directed Taiwan Stock Exchanges Corp. to release financial data for TAIEX-listed shares, including price-earnings ratios and dividend yields.
“This spirit of openness and commitment to building healthy fundamentals will help bolster investor confidence,” he added.
With the Lunar New Year vacation fast approaching, Chen said the Fair Trade Commission and Ministry of Justice are set to clamp down on possible cases of retail sector hoarding and collusion by rigorously monitoring market developments.
But boosting exports remains the keystone of government economic policymaking this year, with increased efforts and resources being dedicated to opening emerging markets.
The Ministry of Economic Affairs will organize four promotion tours headed by senior officials to Brazil, the Middle East, Russia and the Indian subcontinent. In addition, MOEA assistance centers for Taiwan firms are set to be established in Calcutta, Kuwait and St. Petersburg, with other offices in the pipeline for Brazil, Mexico, Turkey and the United Arab Emirates.
MOEA emerging market promotions are expected to lift Taiwan’s exports to these countries by as much as 20 percent in 2012. (JSM)
Write to Meg Chang at meg.chang@mail.gio.gov.tw