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June 29, 2017

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Hsu urges teamwork to maintain growth at over 1 percent

Douglas Hsu, chairman of the Far Eastern Group, yesterday urged people to work together to make sure Taiwan's economic growth for the year stays above 1 percent.

He made the remarks during a pep rally in the lead-up to the anniversary sales at the three most popular branches of Far Eastern's Sogo Department Store. The branches are the Zhongxiao, Fuxing and Dunnan stores in Taipei's prime Xinyi District.

Hsu made the statement after the Directorate General of Budget, Accounting and Statistics Wednesday slashed its economic growth prediction for this year to 1.05 percent, down from the original 1.66 percent it made earlier this year.

Hsu gave a motivational talk at the pep rally to boost the morale of employees.

"We must all work together to ensure that GDP growth stays above 1 percent, and let's all work a little harder to bring the figure up to 2 percent," he said.

Sogo has set the goal of achieving NT$9.7 billion in sales from its anniversary sales, a rise of 9 percent from last year. "It's a huge challenge, but both I and all our employees are confident we can do it."

The three Taipei branches will kick off their anniversary sales on Nov. Anniversary sales will be launched at Sogo's Kaohsiung, Zhongli and Hsinchu branches a day earlier. The Big City Mall in Hsinchu will begin its sale on Nov. 29.

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