The Taiwanese stock market promises to be an attractive destination for private equity funds after the global financial crisis almost halted capital market activity in the US and Europe, fund managers told a forum on Asian private equity and ventures yesterday.
Polaris Financial Group (寶來集團) vice chairman Huang Chih-yuan (黃齊元) told the forum, organized by AVCJ Group in Taipei, that the local bourse had benefited from what he and others called the “peace dividends” of improving ties between Taiwan and China following the election of President Ma Ying-jeou (馬英九).
“The investment environment has improved significantly with the government in Taiwan deregulating cross-strait trade,” Huang said.
Taiwan’s industrial makeup is more diversified than that of Hong Kong, he said.
With scores of companies based in China and elsewhere applying to trade on the Taiwanese stock market, Huang said it could pave the way for the nation to become a financial hub.
Meanwhile, Ben Yang (楊邦彥), a general partner at Pacific Venture Partners (怡和創投), said the Taiwan Stock Exchange (TWSE) could evolve into the Asian version of NASDAQ, given the importance of high-tech firms.
Yang said the government had to take bolder and quicker steps to open the industry.
“If the government fails to open the technology industry, there is little promise of the TWSE turning into a NASDAQ,” Yang said, adding that deregulation was occurring, albeit at a slow pace.
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