The Ministry of Finance decided on Monday to simplify the application process for foreigners who want to invest in the local stock market. The ceiling for foreign investors has also been raised to US$3 billion from US$2 billion, the local Chinese-language media reported yesterday.
One pundit supported the move, but said the change was slow in coming.
"The ministry should have deregulated the market a long time ago, since it would benefit Taiwan's capital market," said Henry Cheng (
In order to raise the competitiveness of the local stock market and in response to Taiwan's entry into the WTO, the finance ministry announced three measures regarding foreign qualified institutional investors or QFIIs, at a press conference on Monday.
"Following deregulation, there should be almost no barriers to foreign investors in the local stock market," the report quoted Minister of Finance Yen Ching-chang (顏慶章) as saying.
On simplifying the application procedures for qualification, Yen said there are two parts involved. "After the first review of a QFII passes, their status as a QFII will be permanent. Therefore, when the investor applies for other investments, only the investment amount will be reviewed," Yen said. "We will also cancel the requirement that the application be in Chinese. English can now be used."
The goal of the change is expected to help "minimize operational costs to foreign investors," he said.
The move was in response to requests made in the American Chamber of Commerce's White Paper, published earlier this year.
"To cope with the needs of diversification and hedging, the ministry decided to allow QFIIs to invest in unlisted shares and stock index options contracts beginning on Jan. 1 next year," Yen said.
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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