The government is working with agencies to address issues including labor shortages, financial support and structural transformation, Minister of Economic Affairs Kung Ming-hsin (龔明鑫) said yesterday during his meetings with representatives from traditional sectors like screw makers.
As labor shortages are a top concern for traditional sectors, the ministry is focusing on training workers to help manufacturers upgrade their technology, Kung told reporters after meeting in Tainan with representatives of the plastics industry.
“As we know, the Ministry of Labor already has a plan to address that, we passed it on to representatives to reassure them,” he said.
Photo: Wu Chun-feng, Taipei Times
Representatives are concerned about US tariff negotiations and New Taiwan dollar fluctuations against the US dollar, and the government has prepared financial support, including loans that companies can apply for, Kung said.
A single company can apply for at least NT$5 million (US$162,718) for research and development or upgrades, and joint applications involving multiple firms can reach NT$40 million, he said.
For expanding sales channels, a single company can apply for up to NT$5 million in loans, while joint applications can reach NT$20 million, he added.
There have been nearly 100 loan applications for financial support, about 236 applications for research and development or upgrades, and about 300 applications for expanding sales channels, the most among the categories, he said.
Another NT$20 billion could be added to the budget to support industrial development, he said.
Kung also met with representatives of the fastener industry in Kaohsiung yesterday in an effort to help them navigate headwinds after the US in June doubled tariffs on imported steel to 50 percent from 25 percent under Section 232 of its Trade Expansion Act of 1962.
The government has secured an agreement from banks that financial support would not be withdrawn when needed, Kung said in a speech before the meeting.
Representatives asked about the possibility of setting up an industrial park or cluster in Kaohsiung, and the ministry would work with the city government to find a suitable site, Kung told reporters after the meeting.
Representatives also suggested that local companies consider mergers, including with international channels, to streamline distribution, he said.
Kung said he hopes the legislature would pass draft amendments approved by the Executive Yuan to the Business Mergers and Acquisitions Act (企業併購法), so that companies would be temporarily exempt from additional taxes on mergers.
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