The government will conduct an overall review of investment regulations after the American Chamber of Commerce in Taipei (AmCham) on Thursday criticized Taiwan’s investment environment in a report, the Ministry of Economic Affairs said yesterday.
The government is planning to revise rules on foreign investment and to facilitate investments by private equity funds, the ministry said. The government will also ease restrictions on Chinese personnel coming to Taiwan to carry out business activities, it said.
“The ministry will review the content of current regulations on foreign investment and invite the government agencies concerned to discuss possible adjustments to speed up official evaluation of foreign investment applications,” the ministry said in a statement.
The ministry said it welcomed AmCham’s suggestion and plans to drop a requirement for foreign investments of less than US$1 million to apply for regulatory approval.
In light of AmCham’s statement that rules on evaluation of investments by private equity funds were not clear, the ministry said the Investment Commission would invite members of AmCham, private equity funds and related professionals on Friday next week to discuss the issue.
Vice Minister of Economic Affairs Woody Duh (杜紫軍) said on Thursday the ministry plans to submit a proposal that includes AmCham’s suggestions and other new approaches to attract foreign investment for review at the extra legislative meetings next month.