Executive Yuan’ Provides Land for Investment.
The Executive Yuan recently announced that it will provide to investors 100 hectares of government-owned land rent-free for the first four years and at half the normal rental fee for the next six years. It made the moved to strengthen Taiwan’s attractiveness to investors and is hoped that this new policy will attract NT$50 billion (US $1.5 billion) in investment, create an annual production value of NT$60 billion (US $ 1.9 billion), and provide 10,000 jobs.
The Executive Yuan also announced that the existing “006688” program, which provides land rent free for the first and second years, at 60% of the normal rental rate for the third and fourth years, and at 80% of the normal rental rate for the fifth and sixth years, would be extended and its budget increased by NT$20 billion (US $600 million). The goal is to attract investment worth NT$175 billion (US $5.5 billion), create an annual production value of NT$210 billion (US $6.6 billion), and provide 35,000 job opportunities by 2008.
Additional financial incentives are also being developed. The Executive Yuan relaxed the rules on loans and credit guarantees to include small and medium enterprises that have been established for less than one year, but have received orders from government agencies, state-run enterprises, or companies listed on the stock market. The goal is to help those small and medium enterprises obtain NT$1.6 trillion (US $50 billion) in financing by 2009. In addition, the Executive Yuan’s National Development Fund, which was set up to promote industrial upgrading, will earmark NT$20 billion (US $ 600 million) for investment in small and medium enterprises that operate in traditional industries.
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