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June 24, 2017

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Gov't actively deregulating in sync with Asia trend

TAIPEI, Taiwan -- National Development Council (NDC) Minister Kuan Chung-ming (管中閔) recently said that the pace of economic integration in Asia is faster than the rest of the world and that Taiwan is actively deregulating in response to this trend.

Kuan made the remarks at a meeting with the European Chamber of Commerce Taiwan (ECCT).

The ECCT recently announced its progress on 11 of the issues that were raised in its 2014 Position Papers. The announcement followed the chamber's meeting with the National Development Council (NDC). The meeting was also attended by other government ministries and agencies.

During the meeting, delegates were given an update on Taiwan's Free Economic Pilot Zones (FEPZs), which was followed by a discussion on the unresolved issues between ECCT committee and government representatives.

In his opening remarks, Kuan welcomed the ECCT delegation and thanked the chamber for its long-time support and for making recommendations on policies to improve Taiwan's regulatory environment.

The minister said that the government's goal is to move further toward opening up Taiwan's economy and harmonizing its regulatory environment with international standards.

He concluded his opening remarks by saying that the government is determined to continue along its current path of reform.

ECCT Chairman Giuseppe Izzo thanked Kuan and his colleagues, welcoming the opportunity to exchange views on how to improve the business environment in Taiwan for the benefit of ECCT members as well as the local economy and society.

He reiterated the main theme and issues raised in the ECCT's 2014 Position Papers, emphasizing the point that the best regulations are sensible measures that protect the health, safety and welfare of people as well as provide a fair and level playing field for businesses to compete on while also allowing for technological advances and innovation.

FEPZ Benefits

During the meeting, a representative from the NDC's Regulatory Reform Center gave delegates a presentation on the latest status and benefits of the planned FEPZs.

The FEPZs are envisioned as trial zones for a free economy in Taiwan, said the representative, adding that restrictions will be significantly eased within the zones and many incentives will be offered to those who choose to do business within the proposed zones.

Government officials promised to take action on several issues raised during the meeting, including the labeling problem faced by retailers, the pension and ID number issues faced by foreign residents in Taiwan as well as tax issues.

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