Chen spending tour time mulling Taiwan economy

Leading a diplomatic delegation on a five-leg Latin America tour, President Chen Shui-bian (陳水扁) has spent most of his energy focusing on economic problems back home.

President Chen even hinted yesterday in Guatemala that he would take over the Cabinet's right to directly handle affairs of financial policy-making.

"During the past year, I focused on cross-strait, national security, and foreign affairs policies, and left domestic affairs, especially economic issues, to the Cabinet," Chen told Taiwanese lawmakers at yesterday's luncheon.

"The performance of the Cabinet in economic affairs, however, was not good. I regret that."

The president vowed to spend more time focusing on economic reforms for the rest of this year, "and the primary target after we return to Taiwan is loosening investment barriers."

He also announced plans to invite lawmakers to consult with the government over economic policy matters at the Presidential Office immediately after returning home.

"I believe that the Economic Development Consulting Committee ... will effectively decide which policies will help Taiwan's economy prosper," Chen said.

President Chen will lead the committee, which was widely criticized by opposition parties because they said it was interfering with the Cabinet's Constitutional rights.

President Chen's stop in Guatemala is the second stop on his tour of Latin America.

After arriving in Guatemala early yesterday morning, Chen had a breakfast meeting with members of a delegation of Taiwanese business leaders and later was entertained at a luncheon with lawmakers at the Camino Real Hotel.

The major topic of both meetings was Taiwan's increasing economic problems.

Chen stressed that he was ready to lead economic reforms and would urge Taiwan's banks to continue to invest in traditional industries which are currently doing the best, as his first task.

In addition to Chen's discussions on Taiwan's worsening economic situation, the finance officials who accompanied the president to Guatemala, including Minister of Economic Affairs Lin Hsin-yi (林信義) and Council for Economic Planning Development (CEPD) chairman Chen Po-chih (陳博志), also held press conferences to announce more detailed government policies.

Deputy secretary-general to the president Eugene Chien (簡又新) said that the president had met with those officials and close aides several times during the past two days to better understand the major direction and measures needed for economic reform and he would be poutting these principles into practice when he arrived home.

"President Chen ordered all financial officials of the delegation to communicate frequently with offices in Taiwan and the president knows well the latest information," Chien said.

President Chen attended a state banquet with Guatemala President Alfonso Portillo last night and was awarded a medal of honor titled " Orden del Quetzal en el Grado de Gran Collar" (國鳥大項鍊勳章).

Chen is also to tour Antigua City to go sightseeing at the famous historical spot, the Santiago De Guatemala, and have tea with Taiwanese reporters to further expound his thoughts on economic reform.