The European Chamber of Commerce Taiwan (ECCT) yesterday urged the central government to be an enabler of, instead of hindrance to, business development as it seeks to deal with challenges at home and abroad.
The trade group made the statement during the release of its annual position paper that highlights the importance of an attractive regulatory environment to a positive cycle of rising investment, trade growth and the creation of well-paid jobs.
“Taiwan is facing very difficult medium and long-term challenges related to demographic changes, globalization, energy security, healthcare, environmental protection, infrastructure development and securing talent,” ECCT chairman Bernd Barkey said.
Photo: CNA
Creative thinking, tough decisions and courageous action are required by policymakers to help the nation overcome the challenges, Barkey said.
There are many instances of important policy changes that are not fully communicated to industry, and the period and number of opportunities provided for public feedback and consultation is often too short, ECCT retail and distribution committee chairman Adrian Worth said.
In addition, regulators issue policies, regulations or rulings without giving a grace period for implementation, Worth said.
The ECCT, which represents 800 members from 400 European companies, said Taiwan is part of the global village and must adapt to the challenges of globalization by embracing international trends, standards and best practices.
The group welcomed the passage in July of a law regarding greenhouse gas reduction and management, and suggested the government set annual reduction targets and strive to meet the goals.
“The government should take the lead in transforming the nation’s electricity generation and introducing low-carbon standards for all government institutions, ECCT energy and environment committee chairman Jules Chuang (莊昇勳) said.
Linda Sheng (盛寶嘉), chairwoman of the trade group’s pharmaceutical committee, said many companies consider Taiwan a high-risk nation for new drug launches due to lengthy review periods and a strict reimbursement policy.
Reviews of new drugs take 380 days on average — with cancer drugs taking about 726 days — explaining why only 48 new drugs were launched in Taiwan between 2012 and this year, and only after they had been launched in most other advanced countries, Sheng said.
“This has not only threatened the sustainability of the research-based pharmaceutical industry in Taiwan, but also greatly restricted patients’ access to innovative medicines,” Sheng said.
ECCT called for a fast-track review for specific drugs, the acceleration of new drug reviews and reduction of budgetary concerns.
The chamber also pressed for the development and retention of talent to ensure Taiwan has sufficient qualified labor to sustain economic growth and competitiveness in the short to medium term.
The Ministry of Education might affiliate with international hotel and tourism academies based in Europe so that the latter can run courses in Taiwan for local students, allowing them access to the highest international standards and diplomas, travel and tourism committee chairman Achim V. Hake said.
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