Local business leaders yesterday renewed their appeal to the government to relax regulations on business investment and tourism between Taiwan and China as soon as possible to attract capital and boost the nation's competitiveness.
They directed their suggestions and concerns at Premier Frank Hsieh (
Kao Yu-jen (
Meanwhile, Taiwan has placed several restrictions on the inflow of both Chinese tourists and business investment projects into the country.
Kao urged the government to open up the domestic market and, in particular, implement direct links with China, saying that this policy would have hundreds of advantages but cause no harm at all.
Current regulations allow only two categories of Chinese citizens to visit Taiwan -- those who do not live in China, and those who live in China but plan to come to Taiwan for business or who are en route to other countries.
The Mainland Affairs Council last month agreed to relax the restrictions and allow 365,000 Chinese tourists per year, or 1,000 people per day, to visit Taiwan as their main destination for a maximum of 10 days. This opening-up measure is pending negotiations between representatives from the two sides.
"I have confidence in Taiwan, and I'm not afraid of more people coming here. I think the door can be opened wider, but of course the controversial issue of national security should be taken into consideration," Hsieh said.
On the sensitive issue of direct links, Hsieh said that there is currently no consensus among the general population, although the business community has adopted a supportive attitude.
"A negotiation mechanism must be established before we can touch upon issues like operating direct passenger flights and cargo charter flights across the Strait," he said.
Hsieh said that the authority to decide such matters lies with President Chen Shui-bian (陳水扁), but that he would convey the business groups' opinions to the president.
Chu Ping-yu (
"China's tax rate [on inheritance and gifts] is zero, Hong Kong levies a rate of 12 percent, and the US is now adopting a decreasing tax rate with the goal to drop it to zero in 2010. If we don't follow suit, how are we going to lure back well-heeled people's capital?" Chu asked.
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
RSS