The Japanese Chamber of Commerce and Industry in Taipei yesterday said that it is willing to aid the nation’s efforts in seeking participation in regional trade blocs such as the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP), so that the two nations might better adapt to sweeping changes in the global economy through bolstered ties.
The chamber presented its seventh white paper to the government, which was received by National Development Council Minister Woody Duh (杜紫軍) this year.
Duh said that the government has been preparing to join second-round TPP negotiations since last year. The US, Japan and 10 other Pacific Rim countries concluded TPP negotiations on Oct. 5.
The multinational deal aims to break down barriers to commerce and investment between countries in a region comprising about 40 percent of the global economy.
“Taiwan’s small-to-medium sized enterprises retain a significant competitive edge over their Japanese peers, and we hope to see further joint efforts between Taiwanese and Japanese companies in contesting other markets abroad,” Isao Takeuchi, a senior director of the business association, told a media briefing in Taipei.
Japan is the nation’s third-largest trading partner, while Taiwan is Japan’s fourth-largest trading partner, with bilateral trade amounting to US$61.6 billion last year, Duh said.
Among the five main recommendations listed in this year’s white paper, the chamber urged the government to improve the transparency of its decisionmaking process regarding policies and public sector project contracts.
Consistency in policy and policy execution also pose concerns to the chamber, as changes in government officials — such as the succession of city mayors and department directors — have often resulted in the overturning of contract terms, making it very difficult for Japanese companies to conduct long-term planning for their Taiwan-based operations, the white paper said.
For example, Japanese companies had to scrap investment plans for the Taoyuan Aerotropolis project after the city elected a new mayor in last year’s elections, the chamber said.
Other complications include the public’s backlash against the construction of coal and nuclear power plants in Taiwan, it added.
Overall, the chamber said the Taiwanese government is inconsistent, fickle and easily swayed by public sentiment regarding its policies.
In addition, the government lacks a unified direction in its policies, which are confined to disparate remedies to stimulate a limited number of export-oriented industries, it said.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
ROW: A probe would determine if the rights of shareholders who were not allowed to vote yesterday had been violated, while the stock exchange also wants answers The election of board directors yesterday at Tatung Co (大同) sparked controversy after the company blocked some institutional and individual shareholders from participating in the general shareholders’ meeting, prompting the Financial Supervisory Commission (FSC) to announce that the vote would be investigated. Lin Kuo Wen-yen (林郭文艷) was re-elected as chairwoman of the household-appliance maker’s nine-member board, but prior to the vote she announced that several shareholders would not have voting rights. They were being denied a vote because they had contravened the Business Mergers and Acquisitions Act (企業併購法), and the Act Governing Relations Between the People of the Taiwan Area and