Exports beginning to show signs of recovery: Shih
October 25, 2012, 12:10 am TWN
TAIPEI--There are signs that Taiwan's exports are regaining momentum after six consecutive months of year-on-year decline in export orders, Economics Minister Shih Yen-shiang said yesterday, citing statistics that indicate growth in terms of exports to emerging markets in the first nine months of the year.
Taiwan's exports to emerging markets in the period January to September showed a 5.6 percent year-on-year growth, accounting for 28.1 percent of total exports, 2.1 percentage points higher than the same period last year, Shih said at a press conference after a regular Cabinet meeting.
In September, he noted, the value of Taiwan's exports was US$27.17 billion, rising year-on-year for the first time in six months -- by 10.9 percent.
The figures prove that the government's strategy to revive exports by increasing the volume to emerging markets is showing results, the minister said.
The Cabinet has been making efforts over the past month to develop new marketing strategies and achieve "sensible" economic growth, he said.
On Sept. 24, after the Cabinet survived a no confidence motion by opposition legislators, President Ma Ying jeou asked his administration to do its utmost to revive the economy to a degree that "people can feel its improvement" within one month.
At the end of the one-month period Wednesday, Shih, Cabinet Secretary-General Steven Chen and Cabinet spokeswoman Chen Li-wun held a joint press conference to talk about the effects of 14 administrative policies.
The strategies include renovating traditional industries, investing in small and medium-sized enterprises, and offering incentives to Taiwanese businesses operating in China to return home.
Premier Sean Chen has approved an incentive project, aimed at Taiwanese business people in China, which will be implemented on Nov. 1, Steven Chen said.
The Cabinet hopes to attract NT$200 billion (US$6.8 billion) in investments by such businesses, which would create an overall production value of NT$303.7 billion and about 82,000 jobs for local workers, he said.
The Cabinet has spared no effort in the past month to try to revive the economy amid a global slowdown, Steven Chen said.
Moreover, the Cabinet has also implemented measures aimed at improving people's lives, such as abolishing the regular renewal of vehicle licenses, he said.
This will put more money in the pockets of 15 million motorcycle owners and 6 million automobile owners, the Cabinet secretary-general said.
"I will be speechless if people continue to criticize the government as doing nothing for them," he said.