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May 28, 2017

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Cabinet pledges to boost deregulation

TAIPEI--Premier Jiang Yi-huah on Wednesday pledged to step up the government's efforts to ease regulations and align the country's laws with internationally accepted standards to show Taiwan's determination to take part in regional economic integration.

Jiang instructed the Council for Economic Planning and Development (CEPD) to strengthen its supervision of regulatory coherence among government agencies and release its results whenever appropriate.

Creating a business environment that is in line with international norms will be a crucial step toward joining the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP), he said during a Cabinet meeting on the promotion of good regulatory practices.

The premier's directive came in the wake of a recent proposal by the American Chamber of Commerce in Taipei for the government to ease regulations in 293 areas.

The business group has identified government bureaucracy and inconsistent regulatory interpretations as the two factors having the biggest impact on the operation of foreign companies in Taiwan.

Of the 293 areas mentioned by AmCham, some have been put on the government's priority list for deregulation, which will be completed before the end of April, according to Chang Hui-chuan, director of the CEPD's Center of Economic Deregulation and Innovation.

Chang said the center has also worked with the Ministry of Health and Welfare to address foreign company concerns over newly amended regulations on the labeling of food ingredients and additives, which have been criticized as being so strict that they could expose The Coca Cola Company to the risk of leaking its secret formula.

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