Top industrial group completes wish list

Taiwan's top electronic manufacturing group yesterday finalized a five-point plan on revitalizing the economy which is to be reviewed by President Chen Shui-bian's (陳水扁) cross-party economic advisory board.

The proposal -- from the Taiwan Electrical and Electronic Manufacturers' Association (TEEMA, 電電工會) -- aims to rebuild public confidence in the economy and stimulate market investments.

TEEMA is Taiwan's largest industrial group, representing over 4,600 companies in fields ranging from semiconductors to telecommunications equipment and information technology.

The plan -- the result of a TEEMA board meeting held early yesterday -- is scheduled to be given to the new Economic Development Advisory Conference (經發會) in the next few days.

According to TEEMA chairman Rock Hsu (許勝雄), the five-point appeal urges the government to stimulate the business environment, promote industrial efficiency, provide better financial incentives, promote company internationalization and establish a positive economic policy toward China.

Meanwhile, to attract foreign investment, another top TEEMA official suggested granting tax exemptions to selected industries.

"Tax exempt status for key technology providers such as biotechnology and optical electronics is what the government should work on as soon as possible," said Luo Huai-jia (羅懷家), executive director of TEEMA's industrial policy center.

TEEMA also encouraged policy-makers to allow investments from China and proposed the weekly working hour regulation be reverted to a 48-hour work week.

The group voiced its opposition to a Fourth Nuclear Power Plant (核四) re-vote initative, saying that construction should proceed.

As for cross-strait policy, TEEMA proposed modifying the "no haste, be patient" (戒急用忍) policy governing China-bound investments.

Taiwanese businesspeople have invested an estimated US$70 billion in China since the government opened civil exchanges between the two rivals in late 1987.

TEEMA is the fifth business group to present a proposal to the economic conference after the Chinese National Association of Industry and Commerce (工商協進會), the General Chamber of Commerce of the ROC (商業總會), the Chinese National Federation of Industries (工業總會) and the National Association of Small and Medium Enterprises (中小企業協會) submitted their views last week.