Upon the invitation by the American Enterprise Institute for Public Policy, a Washington, DC-based think tank, Dr. Christina Yee-ru Liu, Minister, Council for Economic Planning and Development, the Republic of China (Taiwan), delivered a speech entitled “Taiwan’s Changing Investment Landscape Post-ECFA” at the Institute on the morning of January, 31, 2011.
“After the global financial crisis, we could not any longer further our economic growth solely by increasing exports. Instead, we should increase domestic investment and consumption simultaneously. Hence, our future policy direction should prioritize measures that boost domestic demand and contribute to the development of the service sector. Doing so will bring benefits such as increasing employment, wage growth and more consumption in Taiwan,” said Minister Liu.
Minister Liu also pointed out that the “Economic Cooperation Framework Agreement” reached by Taiwan and mainland China could help enhance Taiwan’s economic growth in the years ahead. With Taiwan’s advantage in soft power, the recent improvement in relations across the Taiwan Strait, which is facilitated by measures such as direct flights, and reduced estate and gift taxes, as well as lower business income tax, there has never been a better time to invest in Taiwan.
Minister Liu introduced six major rising industries in Taiwan and concluded her remarks by urging the U.S. and Taiwan to work together in seeking economic opportunities for investment and cooperation.