TAIPEI (Taiwan News) — As the central government prepares to issue NT$5,000 “Quintuple Stimulus Vouchers” to help the economy recover from COVID-19, New Taipei City said Thursday (Aug. 26) it would launch coupons of its own to help small businesses.
Mayor Hou Yu-ih (侯友宜) was unable to reveal details about the program at a news conference Thursday but said the vouchers will be spendable at traditional markets, night markets, hotels, and factories open to tourists, UDN reported. As the smallest coupon will bear a value of NT$50 (US$1.78), it will be convenient for city residents to buy groceries with at the market, Hou said.
According to media reports, consumers will be able to purchase goods worth double the value of the vouchers. New Taipei plans to print 200,000 vouchers worth NT$500 each, 100,000 vouchers worth NT$1,000, and 10,000 coupons worth NT$5,000.
The mayor said lottery drawings and other activities to boost the local economy are being discussed.