The Japanese Chamber of Commerce and Industry in Taipei yesterday released its annual position paper, which welcomed government efforts to revise labor rules, but called on Taiwan to detail measures to make the nation nuclear free.
The trade group said the government should allow companies and workers more flexibility in negotiating work weeks and compensation terms, adding that the current measures have increased overtime pay rates and fail to take into account seasonality for different sectors.
Under the requirements introduced this year, personnel costs increased to unreasonably high levels for manufacturers that rely heavily on overtime work to fill orders ahead of high-sales season, while companies in the service sector have voiced similar complaints over holiday arrangements, the paper said.
Meanwhile, the government should take concrete steps to advance the goal of making Taiwan nuclear free in 2025, boost its foreign trade terms and shore up cooperation with Japan, the paper said.
Instability in electricity supply has drawn the attention of local and foreign companies, with the massive blackout in August deepening their unease, the chamber said.
Japanese firms could share their know-how and experience in the development of renewable energy, biotechnology, “smart” technologies and Internet of Things applications, the paper said.
Other Japanese firms have also expressed concerns over policy inconsistency and lengthy procedural review in Taiwan, it said.
Taiwan needs to cope with challenges from the increasing regional economic integration given its heavy dependence on exports, the paper said.
Failure to secure favored trade terms would raise cost burdens and erode competitiveness for Taiwanese products, it added.
Japan is Taiwan’s third-largest trading partner, while Taiwan is Japan’s fourth-largest, with bilateral trade totaling US$4.85 billion last year, government data showed.
The association urged the government to strengthen trade ties with Japan, saying the two sides can join forces in fields such as creative industry, artificial intelligence, autonomous cars and “smart” production.
It also urged Taiwan to lift bans on food products imported from Japan.
The trade group consists of hundreds of firms with most selling goods and services to the local market.
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
BAD RAP: The exchange said Tatung had seriously breached shareholders’ rights and failed to give a satisfactory explanation of its board election dispute Tatung Co (大同) shares yesterday plunged by the maximum daily limit of 10 percent to NT$18.90, the lowest in three months, after the Taiwan Stock Exchange (TWSE) on Tuesday evening changed the company’s classification to a full-delivery stock effective tomorrow. The TWSE’s move follows the company’s failure to give a clear and satisfactory explanation of why it deprived dozens of shareholders of their voting rights during a board election at the annual shareholders’ meeting on Tuesday morning. Under the exchange’s regulations, investors are not allowed to engage in margin trading of a full-delivery stock, TWSE spokeswoman Rebecca Chen (陳麗卿) told
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in