Taiwan dedicated to providing friendly financial environment: President Tsai

Taiwan President Tsai Ing-wen met with Citigroup CEO Michael Corbat on Sept. 12

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Taiwan President Tsai Ing-wen met with Citigroup CEO Michael Corbat on Sept. 12 (Photo courtesy of the Presidential Office)

Taiwan President Tsai Ing-wen met with Citigroup CEO Michael Corbat on Sept. 12 (Photo courtesy of the Presidential Office)

TAIPEI (Taiwan News) — President Tsai Ing-wen (蔡英文) said Wednesday that the government is dedicated to fostering a friendly financial environment in Taiwan in hope of attracting more foreign investment and stimulating industrial transformation.

The president met with Citigroup CEO Michael Corbat on Wednesday at the Presidential Office.

Encouraging the multinational corporation to allocate more resources for the Taiwanese market, including helping nurture talent while promoting innovative products and tools, the president said her administration has been working to attract foreign investment. “Building a friendly financial environment has always been our most important goal.”

The president emphasized that the government has made considerable efforts to improve the stability and efficiency of financial sector operations by moderately loosening government regulations. There have been 63 modifications made to regulations concerning financial management over the past two years, added the president.

President Tsai also said the government is dedicated to building a forward-looking and internationally competitive financial market in Taiwan. She referred to the recently implemented Financial Development Action Plan, administered by the Financial Supervisory Commission, as her administration’s ambition to spur financial innovation in the country and bring about the growth of industries.

It is hoped that through the development of the financial sector, industries such as biomedical, defense, and green energy, as well as the middle- and small-scaled enterprises in Taiwan will be transformed, said the president.