TAIPEI (Taiwan News) – 2019 marks the beginning of an explosive surge of investment in Taiwan, declared President Tsai Ing-wen (蔡英文) during a visit to a temple in central Taiwan Saturday (August 17).
In a speech at Taichung’s Fushou Temple (福壽宮), Tsai touted what has been achieved by her administration over the past three years from aspects of transportation, economic development, to social welfare.
Citing statistics released by the Directorate General of Budget, Accounting and Statistics (DGBAS), Tsai believes Taiwan is on the trajectory to lead Asia’s four tigers in terms of economic performance. DGBAS on Friday (Aug. 16) revised upwards its estimate of the island’s GDP growth in 2019 to 2.46 percent.
The president pointed out that Taiwan has seen an accumulated returnee investment of NT$540 billion (US$17.1 billion) in the first eight months, which is expected to grow to NT$800 billion by the end of the year. Foreign and local companies have also joined the investment spree, set to drive economic growth while creating tremendous job opportunities, Tsai reckoned.
The government has managed to strengthen fiscal discipline, Tsai stressed, adding that it has proposed a balanced budget for next year, meaning revenues are equal to expenditures. It is the first time in 22 years that Taiwan will not run deficits, she said.
Tsai also took the opportunity to seek a new mandate from the people of Taiwan, calling for support in the 2020 presidential election to “bring Taiwan a bright future.”