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Economic pilot zone regulations get approval

TAIPEI, Taiwan -- The Council for Economic Planning and Development (CEPD, 經建會) estimated that free economic pilot zones would increase private investment and GDP by NT$21 billion and NT$30 billion in 2014, respectively, Duh Tyzz-jiun (杜紫軍), vice minister of the Ministry of Economic Affairs, said.

The Executive Yuan yesterday passed the draft special regulations for the free economic pilot zones, which aim to liberalize the business environment and to open up domestic markets.

The special regulations stipulate policies for the manufacturing sector, service sector, land management, personnel movement, tariff measures and more in the pilot zone.

In addition, the regulations stipulate the inclusion of professional services as well as innovation in education in the pilot zone. This signifies that the pilot zone is designed to further liberalize the business environment in Taiwan, Premier Jiang Yi-huah (江宜樺) said.

The pilot zone aims to set up conditions that will assist Taiwan's endeavor to advance local industries, stimulate economic growth and sign free trade agreements with other countries, Jiang said, adding that the pilot zone helps Taiwan accelerate its transformation into a “free economic island.”

Jiang Calls for Quick Legislation Process

As a number of parties in the nation will be affected by the liberalization policy, Jiang called on competent authorities to communicate the policy to related parties promptly to win their support.

The second-stage launch of the pilot zone can only proceed after the special regulations for the pilot zone have cleared the Legislative Yuan. As such, Jiang called on competent authorities to increase their communication with legislators regarding the pilot zone, so that the legislation process can be completed as soon as possible.

The Government's Priority

Jiang called on the CEPD to summon cross-departmental seminars to explain the launch of free economic pilot zones, as they are one of the government's most important policy measures.

1 Comment
December 27, 2013    pvaudin@
This is quite a critical move to increase Taiwan's competitiveness. If it is approved and implemented effectively it can remove a lot of the bureaucratic baggage which impacts on Taiwan as a cost-effective base for Asian operations. However, it is a race against time to see if Taiwan or Shanghai gets there first. Currently, it is not looking hopeful as there still seems to be a lot of confusion within the various Gov’t Dept's who should be managing FTPZ on how they can actually work & this is already holding back and possibly deterring investment from business.
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The Port of Kaohsiung, one of the designated areas for the free economic pilot zone project, is pictured above. The Executive Yuan yesterday passed the draft special regulations for the pilot zone. The project is to be implemented at six seaports and one airport.

(CNA)

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