The American Chamber of Commerce (AmCham) in Taiwan yesterday called on the government to take advantage of international attention, support and goodwill to improve Taiwan’s business climate and encourage investment.
The trade group, comprising 1,000 members from more than 500 companies, made the call upon releasing its annual position paper, which also emphasizes the need for quick and sustained action to ensure stable energy supply and create a more friendly work environment to attract and retain talent.
In the paper’s “Messages to Washington,” AmCham lauded the positive development of the US-Taiwan Initiative on 21st-Century Trade.
Photo: CNA
It urged the two governments to establish a clear road map on how agreements under the Initiative would be executed and then move forward to negotiate a comprehensive bilateral trade agreement.
AmCham also encouraged the US government to schedule routine visits to Taiwan by high-level US officials and continue efforts to promote Taiwan’s participation in international organizations.
AmCham stressed the importance of Taiwan heightening its efforts to eliminate trade barriers and improve the regulatory system to bolster Taiwan’s competitiveness.
It also urged the two governments to begin negotiations on a bilateral double taxation avoidance agreement to facilitate trade and two-way investment.
The government’s goal to achieve net zero carbon emissions by 2050 by increasing the share of green energy to 20 percent of the energy mix by 2025 appears to be behind schedule, the paper said.
Taiwan Semiconductor Manufacturing Co (台積電), the world’s largest contract chipmaker, on Tuesday voiced similar concerns at its shareholders’ meeting, but added that it has no choice but to trust the government’s efforts as it seeks to meet global sustainability requirements.
The paper quoted state-run Taiwan Power Co (Taipower, 台電), citing Bureau of Energy data, as saying that green energy last year accounted for 8.3 percent of the overall energy supply, compared with 8.2 percent for nuclear power and 82.4 percent for fossil fuels.
Green energy is expected to account for 10 percent of Taiwan’s total electricity generation this year and 15 percent in 2025, it cited Taipower as saying.
However, development of renewable energy sources has proved to be more difficult than expected, the paper said.
Wind power, in particular, has lagged behind, accounting for only 2.25 percent of Taiwan’s energy mix in the first four months of this year, after reaching only 1.23 percent last year, it said.
The government’s goal is to generate 6.7 gigawatts from wind power by 2025, but it generated barely half that last year, it said.
The government should relax or remove its local content policy for foreign investors seeking to build offshore wind power farms in Taiwan, as the policy had “caused scheduling delays” and “pushed up costs” in many projects, AmCham Taiwan chairman Vincent Shih (施立成) said.
AmCham Taiwan president Amy Chang (張韶韵) said that insufficient and unstable energy supply would threaten smooth industrial operations and national security.
“The government should draw up a clear roadmap on how it would achieve the policy goal and provide a concrete timetable and details on progress,” Chang said.
AmCham would like to know how the government defines “heavy” and “light” electricity users, as they would be subjected to different carbon tax rates, she said.
AmCham said it would welcome better relations between Taiwan and China, and that its member companies would increase their investments in Taiwan in the next three years as long as the nation maintains stable economic growth.
It would seek to gain a better understanding of presidential candidates and their policy stances on key issues by inviting them to exchange views with member companies next month at the earliest, the group said.
The paper also called for stricter adherence to the 60-day public notice and comment period for new and revised regulations, increased funding for innovative healthcare treatments and the adoption of international standards for infrastructure tenders.
In the face of global economic headwinds and cross-strait uncertainty, a “business as usual” mindset would no longer suffice, the paper said, adding that it is important for Taiwan to step up efforts to remove trade barriers and improve the regulatory system to bolster its global competitiveness.
Additional reporting by CNA
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