Premier Jiang Yi-huah lauded the success of the government's efforts to encourage private investment after hearing the Ministry of Economic Affairs' (MOEA) progress report at today's Cabinet meeting.
As of September 23, the Cabinet's program to attract overseas Taiwanese businesses had facilitated 37 investment cases with an estimated total value of NT$185.8 billion (US$6.26 billion), reaching 92.9 percent of its target of NT$200 billion (US$6.74 billion), he said.
"Private investment is a major economic growth engine, and its increase is an essential element of the Cabinet's Economic Power-Up Plan," said Jiang. He directed the MOEA and other ministries and departments to work with local authorities to actively develop more potential cases and remove barriers to investment.
As of mid-September, the total value of new private investment plans inked this year for the manufacturing, commercial and service sectors had grown to NT$840.6 billion (US$28.31 billion), the MOEA said. Jiang asked the ministry to seize the moment by implementing relevant measures to reach its 2013 target of NT$1.2 trillion (US$40.42 billion) in projects by year's end.
Moreover, the premier demanded ministries, local authorities and governments of the five special municipalities to strengthen mutual collaboration and communication in order to bolster one-stop services and upgrade state administrative efficiency.
Jiang also invited agencies besides the MOEA to implement proactive industry development and business recruitment measures. "We must demonstrate to the public our determination to attract business and stimulate economic growth," he said.