Chinese investment will, in principle, be subject to the same regulations as those governing foreign investment, an official said on Sunday, adding that Chinese investors are most welcome to invest in Taiwan’s manufacturing sector.
Mainland Affairs Council Vice Chairman Fu Dong-cheng (傅棟成) made the remarks in response to media inquiries on when the government would unveil policy details on opening Taiwan to direct Chinese investment.
The Ministry of Economic Affairs (MOEA) had promised to announce at the end of this month comprehensive policy guidelines for Chinese investment in Taiwan.
But Fu said on Sunday that the deadline could not be met because the proposed open-door policy involved many complicated issues that require extensive discussions and interdepartmental coordination.
Fu did not elaborate on the principal reasons behind the delay in completing the groundwork for one of President Ma Ying-jeou’s (馬英九) key campaign promises to introduce Chinese capital into the country as part of his government’s efforts to revitalize the economy and boost commercial exchanges .
The MAC deputy chief cited only one issue that he said could not be avoided if Taiwan really intends to open its doors to Chinese investment — the entry of Chinese white-collar workers and their rights in Taiwan.
This would include questions such as whether the government can issue them work permits under current law, whether they can gain access to labor and national health insurance programs and whether their spouses will be allowed to work in Taiwan, he said.
Noting that all these issues must be addressed simultaneously, Fu said they involved not only the MOEA and the MAC but also the Council of Labor Affairs, the Ministry of Education and the Department of Health.
“A well-rounded policy blueprint can hardly be completed before the government agencies reach a consensus on those issues and come up with a package of amendments to existing laws to accommodate the new market-opening policy,” Fu said.
Another complex issue that should be considered while drafting a policy framework and the necessary legislation is the standards by which a company is defined as Chinese-owned, Fu said.
Basically, Fu said, Chinese investment will be treated as foreign investment.
“Therefore, if a project is put out for foreign tender, Chinese investors will also be eligible to join the bidding, and vice versa,” he said.
In terms of industry, Fu said, Chinese investors will be most welcome to venture into Taiwan’s manufacturing sector, which he said involves relatively less complex issues.
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