Taiwan should seek to enhance innovation and promote itself as an international investment destination after effectively controlling the COVID-19 outbreak, the European Chamber of Commerce Taiwan (ECCT) said at a news conference to present its annual position paper.
“Taiwan has a unique opportunity to enhance innovation and promote it as an attractive investment destination, aided by its open society, a good geographical location, a reliable regulatory and legal system, abundant capital resources and a skilled workforce,” ECCT chairman Giuseppe Izzo said.
While Taiwan is less affected by the COVID-19 pandemic, it has to navigate the challenges posed by an aging society, US-China trade and other geopolitical tensions, and the rise of the gig economy, which continues to disrupt traditional employer/employee dynamics and erode social safety nets, Izzo said.
Photo: Wu Chia-ying, Taipei Times
Taiwan should boost its image as a haven for talent because the drive for innovation requires talented individuals and dynamic companies that cultivate and support them, the position paper said.
Taiwan’s successful handling of the pandemic already lends support to its image as a safe place to live and work, the trade group said.
However, more could be done to attract and retain talent in Taiwan, the chamber’s human resources and better living committees said, adding that foreign residents are denied the government-issued Triple Stimulus Vouchers and benefits for people aged 65 or older.
The committees called for equal treatment for foreign nationals and modernization of Taiwan’s labor laws to take into account the complexities of modern workplaces and remote working, which render overtime pay and clocking in irrelevant.
The chamber lauded Taiwan’s commitment to an energy transition away from fossil fuels to sources of renewable energy, and the electrification of the transportation sector.
However, more could be done to speed up decarbonization and work toward creating a circular economy, it said.
“The transition will require a roadmap with annual targets for a nationwide electric vehicle [EV] charging system, subsidies for the electrification of car parking lots at strategic locations and new building codes that give apartment owners the right to install EV charging facilities,” said Christine Herbst-Kubitz, co-chair of the chamber’s electrical engineering and equipment committee.
The government should adopt a stricter approach in dealing with heavy industrial electricity users to promote renewable energy, the chamber said.
Energy storage is a crucial component in energy policy panning given the intermittent nature of renewable energy sources, it said.
ECCT members urged the authorities to develop a policy framework for energy storage that is technology neutral and flexible enough to encourage the development and utilization of technological breakthroughs.
With the speed cryptocurrency is emerging as the millennial generation’s alternative asset of choice in India, it is hard to imagine that just two years ago a couple of blockchain pioneers were briefly in police custody. Sathvik Vishwanath and Harish BV, cofounders of a then five-year-old start-up, were arrested in late 2018. No, they had not pulled off a shady initial coin offering. Their “crime” was that they put up a kiosk in a mall in Bangalore where customers could swap bitcoin, ether or ripple for cash or vice versa. That was the whole point of unocoin, their crypto token exchange.
A Chinese factory owned by South Korean semiconductor giant SK Hynix Inc yesterday halted operations after a plant worker was found to have an asymptomatic infection of COVID-19, Xinhua news agency reported. The South Korean worker based at the plant in Chongqing since February had departed on Thursday for South Korea, Xinhua reported. He was tested at Incheon Airport in Seoul and confirmed positive for COVID-19 on Saturday, it reported. All factory staff as well as staff and recent guests at the hotel where the worker lived have been isolated and given nucleic acid tests, the agency said. “We’re cooperating with the local government
FIVE NEW FABS: An acquisition of Siltronic would boost GlobalWafers’ market share from 17 to 30 percent, easily surpassing Japanese rival Sumco’s 25 percent GlobalWafers Inc (環球晶圓) yesterday said it is in final talks to acquire Germany-based Siltronic AG in a 3.75 billion euro (US$4.5 billion) deal, which might help it compete with its closest rival Sumco Corp of Japan. The acquisition would be the fifth for GlobalWafers since 2008, as it has grown to become the world’s No. 3 supplier of silicon wafers through such deals. GlobalWafers, which has a 17 percent market share, would see its market position greatly elevated to 30 percent when combined with Siltronic’s 13 percent, according to a presentation Siltronic gave to its investors at a quarterly conference in August. Sumco
A year of crisis for the lira has kept people in Turkey buying gold at a record pace. Now the appetite for more bullion risks becoming a drag on the currency just as a rally struggles to regain momentum. In the two weeks after Turkish President Recep Tayyip Erdogan cleared out the leadership ranks blamed for failing to stabilize the lira and draining reserves, Turkish retail investors and firms added US$2.2 billion to their gold holdings, taking them to US$36.4 billion, or almost triple the total last year, Turkish central bank data showed. People are not relenting in their zeal to own