While attracted by fast-growing Chinese markets, members of Council of Taiwanese Chambers of Commerce in Asia yesterday echoed President Chen Shui-bian's (
"Local media have called the government's go south policy into question. But I'd like to say our examples tell part of the policy's success," said Liu Tong-kuang (
"Many Thailand-based business people are pondering whether they should head to China. But now is actually a good time to invest in Thailand, which provides tax holidays to invesors who are not from ASEAN countries," said Huang Sheng-yung (黃盛涌), one of the federation's vice chairmen and chairman of the Thai-Taiwan Business Association.
Extending his welcome to Vietnam-bound investment, Tsai Chung-en (
These vice chairmen made the remarks at the federation's ninth annual two-day meeting yesterday, which is being held in Taipei. President Chen Shui-bian delivered a speech at the event on Monday to re-emphasis the government's "go south" investment policy.
sagging investments
According the statistics provided by the Ministry of Economic Affairs, the Southeast Asian region has attracted a total of US$260.5 million in investments from local enterprises over the last five years, compared to US$1.5 billion heading to China during the same period.
Representatives of the Phillipines-based association, however, discouraged Philippines-bound investment, saying that the investment environment in the country has deteriorated.
"Thirty percent of Philippine-based business -- over US$100 million -- has moved to China," Chen Wen-ju (
He urged local banks to relax lending restrictions on investments bound for countries in Southeast Asia in an effort to spur such ventures.
Chen also urged the government to help remove ASEAN's trade barriers against non-members.
Chen said that that his decision not to move to China was for purely patriotic reasons.
"I don't like to do anything to benefit Communist China, such as increasing its trade volume," Chen said.
Endorsing Vice Premier Lin Hsin-yi's (
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