The National Development Council (NDC) in 2018 drafted a “new economic immigration” bill that aimed to relax regulations on foreign professionals and attract skilled foreign workers, as a means to address demographic imbalances and labor shortages in key sectors in Taiwan. Despite the nation’s rapidly aging population and shrinking working-age population, the bill has been shelved in the Executive Yuan over the past four years.
In the wake of industry transformation and the creation of new job opportunities in Taiwan, whether the nation has enough domestic talent to fill these positions and whether the government still views this as a national security issue is a growing concern.
Earlier last month, NDC Minister Kung Ming-hsin (龔明鑫) told local media that the government had spared no effort to recruit foreign professionals and workers necessary for national development in light of changes to Taiwan’s population structure and the transformation of local industries.
Kung said the government is trying to encourage foreign students, overseas Taiwanese and migrant workers to stay in Taiwan after they finish their studies or complete work contracts here. The government has also worked to expand the recruitment of white-collar foreign professionals, he said, citing amendments to the Act for the Recruitment and Employment of Foreign Professionals (外國專業人才延攬及僱用法), which the legislature passed in June last year.
As the challenges to attract talent and reduce the labor shortage are immense, the council has called on all government agencies to work together to expand the scope of foreign talent eligible for government incentives. Last week, at a talent sustainability forum in Taipei, Kung said many government agencies have changed their stance toward overseas talent, and the council has reached a consensus with the ministries associated with education, economic affairs, labor and overseas communities, aiming to attract 400,000 foreigners over the next 10 years to account for a declining labor force.
The goal of attracting this foreign talent underscores how serious the shortage of skilled workers in Taiwan is, and the adverse economic effects it might have if it is not adequately addressed. It also reflects the urgency for Taiwan to have more overseas talent contributing to the nation’s industrial development.
According to the council’s estimates, the nation’s elderly population would increase rapidly in the next few years, while the working-age population — people aged 15 to 64 — would also decline rapidly, leaving Taiwan with an insufficient and older workforce. This year, the working-age population is 16.3 million, with people aged 45 to 64 accounting for 43 percent. This figure is projected to drop to 7.76 million in 2070, with nearly half of people middle-aged or older.
As Taiwanese industries expand, the demand for talent is increasing in quality and quantity. Taiwan faces a limited supply of local talent due to a low birthrate, but it is also seeing increased competition from other economies that face similar demographic issues. For example, Singapore last week announced new visa rules to attract foreign workers as the city-state aims to adjust its population structure to ensure continued sustainable economic development.
Based on the experience of other countries, in order to attract more foreign talent to Taiwan for long-term development, the government should consider relaxing laws and regulations to make it easier for foreign talent to work here. Cash incentives such as subsidies, scholarships and low taxes should be provided to encourage foreigners to start businesses in Taiwan, while education and immigration policies should be reviewed to further expand the supply of outstanding talent for this country.
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