At a luncheon in Kaohsiung City hosted by southern-Taiwan members of the Chinese National Association of Industry and Commerce, Taiwan (CNAIC), Premier Jiang Yi-huah listened to entrepreneurs' policy suggestions, expressed optimism about the nation's economic growth and stressed that enterprises must bear social responsibility in addition to making money.
With the joint efforts of the government and members of the CNAIC, the ROC's economy has progressed steadily, and prospects for the future are encouraging, the premier stated in his address. According to the forecast of the Directorate-General of Budget, Accounting and Statistics (DGBAS), Taiwan's 2014 economic growth is expected to reach 3.41 percent. The National Development Council's monitoring indicators flashed green—meaning stable growth—for seven consecutive months from February to August.
In addition, the unemployment rate—which had stayed above 4 percent for the past few years—dropped to an average of 3.9 percent from January to August of 2014, and the total employed population has increased considerably as compared with the same periods of the past few years. This shows that the fruits of economic growth have been spread out among more workers, Jiang said.
Although there are elements of uncertainty for global economic development, such as U.S. stock markets' recent fluctuations and the spread of the Ebola virus, the government will do its utmost to prepare for any possible crisis, the premier promised.
Meanwhile, the administration will expedite relaxation of laws and regulations concerning the domestic business environment and proactively promote regional economic integration, said Jiang, who hopes that related financial and economic bills sent to the Legislature will be speedily passed.
The entrepreneurial sector has previously suggested that employees be permitted to receive stock options and related taxation rules be adjusted. The premier said that the Executive Yuan has already decided to offer income tax deferrals on employee stock options to help enterprises recruit and retain talents. The government will definitely work with the industrial and commercial sectors to build an ideal business environment, Jiang pledged.
Moreover, the premier expects industrial and commercial enterprises to shoulder social responsibility while generating wealth in order to make Taiwan more progressive. He noted that the success of the nation's food industry is the result of decades of technological development and market promotion, and the industry has not only made Taiwanese people proud but also established Taiwan's image as an island of gourmet food. However, the major food incidents that have occurred over the past two years, coupled with a few manufacturers' illicit acts, have greatly angered the public and deeply hurt Taiwan's reputation as a gourmet kingdom.
In order to safeguard the economic development and international reputation of the nation's food industry, the government will impose heavier penalties to severely punish illicit manufacturers, Jiang pledged. The Ministry of Health and Welfare has already revised certain provisions of the Act Governing Food Safety and Sanitation to impose heavy fines and penalties to eliminate "black-hearted" manufacturers and their illegal activities. The government will urge speedy passage of the revised bill, which has already been sent to the Legislature for review.
As the nation's economy continues to progress, enterprises must shoulder social responsibility in addition to creating wealth, stated the premier. An ideal business must not only provide employees with sound working environment and pay, it must also take into consideration environmental protection and conservation, social assistance and relief, and food safety duties. Food, architecture and construction, and transportation firms especially must pay attention to quality control to safeguard the rights of users and consumers, he said.
The premier guaranteed that the government will work hand-in-hand with the private sector to ensure quality control through laws and regulations as well as inspections and evaluations. Doing so will give the public peace of mind and help make Taiwan a prosperous and courteous society, he said.