Economics minister gets new Cabinet assignment

Several economists yesterday gave their approval for outgoing Minister of Economic Affairs Lin Hsin-yi's (林信義) new appointment as both vice premier and chairman of the Cabinet's Council for Economic Planning and Development (CEPD).

"His hands-on experience in the industrial sector and his extensive political connections fully qualifies him for the promotion," said Day Sheng-tong (戴勝通), president of the National Association of Small and Medium-Size Enterprises (中小企業協會).

He expects Lin to implement many of the 322 economic and financial consensus reached at the Economic Development Advisory Conference last year.

Before Lin joined the DPP government, the 57-year-old entrepreneur was the vice chairman of China Motor Co (中華汽車) who had helped the motor company establish its the first car plant in China. His industrial expertise and managerial background are, therefore, regarded as his advantages to make up for newly premier-appointed Yu Shyi-kun's lack of experience on economic and financial issues.

Chinese National Federation of Industries (工總) chairman Lin Kun-chung (林坤鐘) yesterday said in a local wire report that Lin understands the needs and difficulties of the industrial sector, making him the most appropriate candidate to formulate economic and financial policies.

General Chamber of Commerce (商總) Chairman Gary Wang (王令麟) also said that Lin's appointment will help promote the vertical integration of policy formation and execution. Lin outshines other candidates with his liberal stance on cross-strait trade relations, said Luo Huai-jia (羅懷家), executive director of Taiwan Electrical and Electronic Manufacturers' Association (電電公會).

"China Motor's investment in China has been so successful that we expect that Lin fully understands that industries should be free to make investments without being restricted by governmental policies," he said.

Lin may soon help facilitate the relaxation of China-bound investmen, Luo said.

As CEPD chairman, Lin would be able to help coordinate and put into action the government's economic policies, former CEPD advisor Yeh Wan-an (葉萬安) said.