TAIPEI (Taiwan News) – The government of Taiwan will seek to provide assistance to Taiwanese businesses relocating back home in a bid to promote the “Made in Taiwan” label, amid turbulent times marked by trade conflict, President Tsai Ing-wen pledged Monday.
Tsai made the pledge when addressing Taiwanese enterprises operating in China at an event held at the Grand Hotel Taipei, according to the Office of the President.
Tsai reiterated that it is an opportune time for businesses to move back to Taiwan, which has put in place an initiative that will provide incentives and one-stop service to allow for a smooth transfer of operations back to the country. Hurdles related to securing land, electricity supply, manpower, and tax cuts will be decreased or removed, she guaranteed.
She also made a case for increased investment in artificial intelligence, Internet of Things and Industry 4.0, technologies, area which promise great commercial potential where companies can develop a competitive edge.
Tsai took the opportunity to tout a series of measures adopted since she assumed office to boost domestic demand and drive economic momentum. Policies include the implementation of the“five plus two” innovative industries plan, the Forward-looking Infrastructure Development Program, green energy projects, travel packages, and tax reduction policies, among others.
She called upon the Taiwanese businesses to play a more active role in helping stimulate domestic demand to mitigate impact inflicted upon the economy by slowed export growth.