Fri, Sep 15, 2017 - Page 12 News List

NDC to prioritize investment deregulation

E-OPPORTUNITY:The council is to speak with sectors to make mobile payments more prevalent, as well as create an exit mechanism for failed construction projects

By Crystal Hsu  /  Staff reporter

National Development Council Minister Chen Mei-ling speaks at a news conference in Taipei yesterday.

Photo: CNA

National Development Council (NDC) Minister Chen Mei-ling (陳美伶) yesterday said she is to give top priority to removing investment hurdles for new ventures to help spur economic growth.

“Government agencies should give their go-ahead when reviewing new business ventures unless there are clear rules against them,” Chen told a news conference a week after taking charge of the council tasked with coordinating and integrating economic development policies.

There has been little progress in deregulation, because government officials tend to tie their own hands with expanded regulatory interpretations when dealing with new business ventures, she said.

Deregulation is especially important for start-ups in the e-commerce and Internet of Things fields, as they usually lack legal knowledge or resources, Chen said.

The council is to create a regulatory adjustment platform devoted to helping creative start-ups avoid and resolve legal obstacles, she said.

Chen, who has a doctorate in law, said that not all deregulation attempts need to go through lengthy legal revisions, adding that the council would work with other government agencies to facilitate investments by foreign firms.

“If not effectively implemented, great economic policies become empty talk,” Chen said, adding that the council aims to reverse the government’s ineffective image.

Meanwhile, the council is to formulate a strategy to help local firms tap the vast opportunities in e-commerce, starting next week.

The ambition requires cooperation from the Ministry of Economic Affairs, Ministry of Finance and the Financial Supervisory Commission, Chen said, adding that the council would serve as coordinator and integrator.

Mobile payment methods in particular are common and easily accessed in foreign countries, but the service is not convenient or prevalent in Taiwan, Chen said.

“There is much the council can do to convince the transportation, telecom, retail, tourism and medical sectors to come on board and support mobile payments,” she said.

To avoid wasting tax dollars, the council is to draw up an exit mechanism for unpopular or ineffective public construction projects so the government can better utilize its limited funds, she added.

Some projects hit snags and might not need continued funding after being launched, Chen said without elaborating.

The council is to also improve big data applications by creating a personal data assessment center to facilitate information flow among government agencies without violating privacy, she said.

Chen previously worked as Cabinet secretary-general under former premier Lin Chuan (林全) and deputy secretary-general under former premier Su Tseng-chang (蘇貞昌).

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