At the 11th Golden Thumb Awards for Private Participation in Infrastructure Projects today, Premier Jiang Yi-huah stated that due to the government's budgetary constraints, the private sector's abundant capital has become a vital source of funding for public infrastructure projects.
Such projects are an extremely important element of national economic development, he said, which provide the public with quality facilities and services, boost economic growth and generate job opportunities.
Originally, public construction costs were budgeted by the government alone, and completely funding them would be no problem if the state's coffers were full, he said.
"However, the government's fiscal condition has been less than ideal in recent years, and in response to the lack of new revenues, the government's public construction budget has decreased year-by-year," he said. "Yet though the global economy is still in recession, the Executive Yuan has budgeted a slight increase in public projects for next year. This displays the government's efforts to boost the domestic economy and increase job opportunities through public infrastructure development."
The premier applauded the Ministry of Finance (MOF) for its effort in this respect, saying, "Since the MOF took over certain tasks from the Public Construction Commission this year, it has formulated numerous projects for private investment. Its goal is to attract NT$180 billion (US$6.1 billion) in funding. Contracts that it arranged and which have already been signed amount to NT$80 billion (US$2.71 billion)." He directed the ministry to keep up the good work and achieve its goal in the shortest possible time.
The premier and Minister of Finance Chang Sheng-ford at today's ceremony presented numerous awards to private-sector organizations to acknowledge their contributions to national infrastructure development.
Jiang commended the awardees, noting, for instance, that the Ever Rich Duty Free Shop has designed an eye-catching duty-free area in the Taiwan Taoyuan International Airport as well as fascinating architecture at the Qingshui freeway service area near Taichung. The premier was also highly impressed by the Cilan Forest Recreation Area and the Mingchih Forest Recreation Area during his visits there.
"These sites differ from typical public works because they were commissioned to private companies for development or operation, thus enhancing their overall quality," he remarked. "The efficiency and effectiveness of the private sector is exemplified in the infrastructure and related services in which it is involved. Hence, I eagerly anticipate the contribution of private investment, be it from life insurance companies or other sources, to future national construction projects."