The Cabinet is going to draft a short-term economic stimulus package, Premier Jiang Yi-huah said today after a visit to Ching Hung Machinery & Electric Industry Co.
"The Executive Yuan is going to hold a series of meetings to draft an action plan that would brighten the nation's economic outlook," Jiang said. "It will complement the longer-term Economic Power-Up Plan launched last year and spur economic growth, making Taiwan more internationally competitive."
Jiang also expressed hope for more wide-ranging collaboration between government and business, saying that while the Ministry of Economic Affairs' Industrial Development Bureau and Bureau of Foreign Trade most frequently interact with companies, other agencies can and should build similar connections with businesses themselves.
"If agencies understand the efforts and successes of businesses on the front lines of competition, they will also know what kind of assistance these businesses need," the premier said. "Whether a business is large or small, the government can support it through regulatory adjustment, subsidies and strategic marketing as well as by making recommendations on global market deployment. Government and business are complementary and can work together."
As Taiwanese enterprises are looking to expand their markets, Jiang said he expected government agencies to offer them needed consultancy and assistance and maintain close collaborative relations with entrepreneurs. "The private sector is welcome to voice any of its needs to the government, and officials should visit businesses more often to offer help."
The premier also commented on a number of other issues, including the currency exchange rate as well as Taiwan-mainland China and international trade negotiations. He said a services trade agreement will be signed in the near future during a follow-up negotiation on the Cross-Straits Economic Cooperation Framework Agreement, whereas free trade agreements (FTAs) with New Zealand and Singapore will be ready for official signing once legal details are finalized.
"Cross-strait ties are now much friendlier than before. The government will continue to maintain peace across the Taiwan Strait and greatly expand the nation's opportunities to seal FTAs with other countries," he said.
Ching Hung Machinery & Electric Industry Co. is Taiwan's leading manufacturer of both die sinker and wire-cut electrical discharge machines (EDM) and one of the world's top five EDM makers. Its product line, CHMER, is globally renowned.