Economic pilot zone regulations get approval
By John Liu, The China Post
December 27, 2013, 12:09 am TWN
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.