The government's 浽o slow, be patient policy on investment in China will be adjusted if China shows its 浽oodwill, Vice President and KMT presidential candidate Lien Chan (連戰) said yesterday.
He also promised to slash income tax and expand the taxation base to narrow the gap between the rich and the poor.
涆he `go-slow, be patient' policy is a strategy, not a purpose, a process, not a final result; a transitional policy rather than an irreversable rule, said Lien.
洍f the rights of Taiwanese businessmen in China can be fully assured, we can consider adjusting this policy, he added.
The policy, enforced since 1997, restricts Taiwanese investment in China for certain industries and above US$50 million in sum. Its rationale has been to prevent Taiwan from becoming overly dependent on China as an investment destination and to keep sensitive industries at home, such as the high-tech, infrastructure and national defense industries.
Lien, speaking at an annual conference on Taiwan's industrial and commercial development, organized by the Chinese National Association of Industry and Commerce, also promised to substantially slash income tax and expand the taxation base to narrow the income gap.
Minister of Finance Paul Chiu (邱正雄) said the plan is that the threshold for taxable income will be raised by nearly one-third to NT$82,000 from NT$62,000 when taxpayers claim their tax in 2002.
The proposal would result in a loss of NT$7.4 billion to the state's coffers, which has economists concerned about the strain this would place on already overburdened government finances.
涆he promise is indeed attractive and appealing to voters who have to pay taxes, said Wang To-far (王塗發), chairman of the department of economics at National Chunghsing Unversity. 毢ut the question is how to stop the gap of financial deficits, especially when the government has to allocate more spending for post- earthquake reconstruction.
浠e will have to wait and see whether the government is able to come up with practical measures to back up these proposals, Wang said.
Lien also said that Taiwan would take steps to develop into an Asia Pacific 浾ssets management center and a 浽lobal logistics center. This should be done in conjunction with opening its markets and lowering tariffs to coincide with expected accession to the WTO.
Meanwhile, Minister of Economic Affairs Wang Chi-kang (王志剛) said he is confident of fulfilling Lien's proposals.
浠e are confident of achieving the goals that the vice president has set, Wang said.
According to Wang, the ministry is confident of forging no fewer than 700 investment deals for newly developed industries, which would involve a total of NT$500 billion.
Also, the ministry would also push forward e-commerce by launching at least 100 e-business infrastructure plays within four years to forge vertical business integration among at least 20,000 companies.
Wang identified boosting newly developed industries as one key agenda for this year. The Industrial Development Bureau has set up working groups in boosting information industry, telecommunication, aviation, biotechnology, and precision machinery.
Among other key economic agendas for this year are upgrading the ailing local traditional industries to strengthen their competitiveness. The liberalization of the petroleum industry for foreign competition commencing from July 1 and privatization of electricity supply are also singled out as key economic goals this year.
The government is aiming to recruit 1,096 foreign English teachers and teaching assistants this year, the Ministry of Education said yesterday. The foreign teachers would work closely with elementary and junior-high instructors to create and teach courses, ministry official Tsai Yi-ching (蔡宜靜) said. Together, they would create an immersive language environment, helping to motivate students while enhancing the skills of local teachers, she said. The ministry has since 2021 been recruiting foreign teachers through the Taiwan Foreign English Teacher Program, which offers placement, salary, housing and other benefits to eligible foreign teachers. Two centers serving northern and southern Taiwan assist in recruiting and training
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