Economy moving in the right direction: Taiwan President

President Tsai sees Taiwan as regional Asian venture capital center

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President Tsai Ing-wen addressing the World Taiwanese Chambers of Commerce  Tuesday.

President Tsai Ing-wen addressing the World Taiwanese Chambers of Commerce Tuesday. (By Central News Agency)

TAIPEI (Taiwan News) - Key signs such as economic growth, the unemployment rate, and the stock market index all showed that Taiwan’s economy was still moving forward, President Tsai Ing-wen (蔡英文) told the World Taiwanese Chambers of Commerce Tuesday.

She added that legislation would be introduced which would allow the island country to become a venture capital center for Asia.

In her speech at the opening ceremony at Taipei City’s Grand Hotel, Tsai thanked the 1,200 Taiwanese business people present for their work on behalf of not only the Taiwanese economy, but also its democracy and foreign relations, the Central News Agency reported.

As most signs pointed out that the island country’s economy was still moving in the right direction, she encouraged the businesses to consider Taiwan and push for its development together.

An “innovation corridor” was opening up, linking up an innovation park in Linkou, New Taipei City and the “Asian Silicon Valley” in Taoyuan with the Hsinchu Science and Technology Park and even the Taipei Arena in the capital, the president said. Attracting innovative businesses from overseas and from Taiwanese entrepreneurs as well as technology and capital would allow Taiwan to become a regional Asian center for venture capital, CNA reported.