Local business groups yesterday voiced their expectations of president-elect Tsai Ing-wen (蔡英文), hoping the incoming Democratic Progressive Party (DPP) government maintains stable cross-strait relations while improving the nation’s economic and trade environment.
The groups also urged the DPP to reconcile with the opposition after the elections to create a peaceful atmosphere within the nation.
The groups said that they hope the new government would continue pushing the development of regional trade agreements, including the progress of the cross-strait service trade agreement and the cross-strait trade in goods agreement.
Photo: CNA
“I hope the newly elected president shows kindness and heals the cracks in society following the elections,” Taipei Computer Association (台北市電腦公會) chairman Tung Tsu-hsien (童子賢), who doubles as chairman of Pegatron Corp (和碩), told the Taipei Times.
Tung said that the new government has a responsibility to improve the nation’s economic and trade environment.
“It requires wisdom, but the new government should seek a delicate balance for the economy to grow without political interference. After all, Taiwan has limited natural resources and it relies heavily on industries and trade,” he said.
Tung said that he expects the new president to put forward legislation related to the Internet and new technologies to pave a way for innovative industries to emerge.
He said he hopes the president would push income tax reform and reverse the nation’s imbalanced resource allocation.
“The tax on capital gains from stock investments and property transactions should be increased, while taxes on economically vulnerable people should be lowered,” Tung said.
He said he also hopes the new government would value and allocate more resources to the arts, culture, literature, music, dance and drama.
Chinese National Federation of Industries (全國工業總會) chairman Rock Hsu (許勝雄), who is the chairman of Compal Electronics Inc (仁寶), said that he hopes the government addresses the lack of domestic demand with more stimulus policies.
“If the new ruling party can provide Taiwanese a safe and peaceful environment in which to live and work, with stable cross-strait relations and peaceful relations with other political parties, I believe Taiwan has a chance to achieve the government’s 2.32 percent GDP growth forecast this year,” Hsu said.
“The results of the elections are not what the industry is concerned about. We hope the new government can take care of the nation’s industries and improve the investment environment,” Petrochemical Industry Association of Taiwan (台灣石油化學工業公會) chairman Chen Bao-lang (陳寶郎) said.
Chen, chairman of Formosa Petrochemical Corp (台塑石化), said he hopes the new government can complete the negotiations on the cross-strait trade in goods agreement as soon as possible.
“We are losing our competitiveness to South Korean, Japanese and ASEAN rivals in the Chinese market because of higher export tariffs,” Chen said by telephone.
Chen said petrochemical exports to China have been declining in the past few years mainly due to China’s zero tariffs on goods from these nations.
“The petrochemical industry is Taiwan’s most important traditional industry, but it is in pain... the trade in goods agreement cannot wait any longer,” Chen said.
Taiwan Electrical and Electronic Manufacturers’ Association (電電公會) vice president Luo Huai-jia (羅懷家) said that the association thinks the new government should prioritize making improvements to the investment environment.
“The government must help industries seeking land and talent, and provide a stable electricity supply for new investments. Industries cannot thrive without the government’s assistance,” Luo said by telephone.
The association also expects the new government to maintain a peaceful relationship with Beijing and to pass the cross-strait service trade and trade in goods agreements as soon as possible because many Taiwanese firms have plans to set up manufacturing plants and businesses in China.
“Cross-strait economic interaction is very important to Taiwan,” Luo said.
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