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NDC plans to establish national trade, investment firm: minister

NDC plans to establish national trade, investment firm: minister

Taipei, May 25 (CNA) Minister Chen Tain-jy, head of the National Development Council (NDC), said Wednesday that his council has been planning to establish a national trade and investment company by the end of this year, as part of the nation's efforts to promote overseas markets.

The projected national trade and investment firm will have a total capital of NT$10 billion (US$307 million), of which the government's investment will be less than 50 percent, Chen told a press conference.

He added, however, that the government will enjoy a "certain level of control" on the company's operations, which will be run as a private enterprise.

The company will invest in development projects in the country, while its trade arm will seek to establish strongholds in principal international markets, particularly those in the Southeast Asian nations, and help promote whole plant exports for small- and medium-sized enterprises, the minister said.

The NDC is also planning to establish an industrial innovation and transformation fund of NT$100 billion to finance projects of transformation, structural adjustment and merger of the existing enterprises in the nation, he said.

The NDC will also establish an inter-ministerial investment group that will be composed of representatives of related government agencies to set up windows exclusively for solving problems related to making investment in the country.

The NDC is trying to promote the development of the five major innovative industries, including biotechnology, national defense, Internet of Things, green energy and precision machinery, as President Tsai Ing-wen promised in her electoral campaign, Chen said. (By Chen Cheng-wei and Romulo Huang)