The 2013 Investment Solicitation Convention held June 21 in Taipei allowed private investors to meet face-to-face with government agencies and discuss opportunities to invest in 51 infrastructure projects worth as much as NT$180 billion (US$6 billion), the Ministry of Finance (MOF) reported at a Cabinet meeting today.
Premier Jiang Yi-huah asked the MOF to keep a close eye on all projects and to help the government agencies remove any obstacles that may arise during the course of planning and implementation. He also gave instructions that all agencies must meet their targets on schedule and asked them to devise other creative ways of funding the projects.
Jiang said that budgets allocated for public works have been reduced in recent years due to a decline in the central government's revenues. For this reason, the Executive Yuan has made it a priority in the Economic Power-Up Plan last September to involve the private sector in the funding of public construction projects over the medium- and long-term.
The government is currently endeavoring to solicit investments from the insurance sector, Jiang said. He also asked Vice Premier Mao Chi-kuo to oversee the MOF and the Financial Supervisory Commission as they set up procedures and standard contracts for privately funded infrastructure projects. All review procedures should be expedited to allow an early start to the projects, Jiang added.