Most US companies in Taiwan are optimistic about revenue growth this year and beyond, but a sizeable number said Taiwan’s regulatory environment has grown increasingly unfriendly, a survey by the American Chamber of Commerce (AmCham) released yesterday showed.
Nearly three-quarters, or 73 percent, are positive about revenue pickup in the coming year, but satisfaction with the regulatory environment declined, the foreign trade group said.
About 43 percent of respondents said that Taiwanese laws and regulations have not been updated in response to changing societal and economic needs, and their implementation is inconsistent, it said, adding that 34 percent identified regulations and policies as the most important area for improvement.
Photo: Hsu Tzu-ling, Taipei Times
The survey, conducted from Nov. 15 to Dec. 16 last year, also showed that 56 percent support net zero emissions or 100 percent renewable energy usage, but 67 percent expressed concern over the availability of green energy.
Energy sufficiency should be a top priority for the government in the next one to three years, 42 percent of respondents said.
Failure to secure sufficient green energy supply would constrain inbound foreign investment at a time when risk assessments have already added a premium for foreign investors, AmCham said.
Regardless, a big majority of respondents remain committed to Taiwan, with 88 percent indicating plans to maintain or boost their investment, the survey showed.
As high as 85 percent expressed confidence over Taiwan’s economic showing in the next three years, although expectations have been adjusted due to global economic headwinds, it showed.
Human capital remains a focus among member companies, with 60 percent seeking to invest in staff expansion and development this year and many calling on the government to prioritize this issue in the coming years, it said.
In addition, 73 percent support the government pursuing a bilateral trade agreement with the US, Taiwan’s second-largest trading partner, it said.
Since sound regulatory practices are a focus area of US-Taiwan trade, policymakers should consider the chamber’s constructive criticism and strive to establish a more investment-friendly regulatory environment, the trade group said.
While many consider national security and cross-strait relations significant issues, 67 percent of respondents reported no significant disruptions due to heightened tensions across the Taiwan Strait following China’s large-scale military exercises after a visit by then-US House of Representatives speaker Nancy Pelosi in August, it said.
Nevertheless, 47 percent of companies have revised or plan to revise business continuity plans in Taiwan to address the new geopolitical condition, it said.
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