The government has made economic development its top priority and will continue to value businesses' views when crafting legislation, Premier Jiang Yi-huah told leaders of small and medium-sized enterprises (SMEs) during an afternoon meeting today.
"The Executive Yuan places great importance on communicating with SMEs. It has hosted several SME symposiums each year to hear their proposals, and the majority of them have become important references for relevant policies," Jiang said.
The premier directed the ministry officials in attendance to take immediate action, emphasizing "the action needed to revitalize the economy cannot wait any longer." He also asked officials to provide answers in an honest and responsive fashion.
SMEs have played a major role in the nation's economic development, the premier pointed out. "Over the past several decades our economy has grown and prospered mainly because of SMEs' flexibility and ability to adapt to changing times. This is why Taiwan could overcome difficulties and create the 'economic miracle,'" he stated.
The premier further noted that SMEs have been a stabilizing force for employment and salary increases. Over 97 percent of Taiwan's businesses—some 1.3 million—are SMEs, a very high number for an East Asian country, and they employ over 8.48 million people, which is more than 78 percent of the labor force. These businesses play a major role in the nation's economic development and social stability, he said.
Jiang hopes to sound out businesses' views through forums and visits to their workplaces. Ministry officials should try to understand businesses' problems and resolve them as soon as possible while providing frank explanations to companies whenever an issue cannot be handled right away, he advised.
"We hope to establish a rational, healthy and interactive relationship between businesses and the government," said the premier, who then called on businesses to work together with the administration to create greater prosperity and benefits for the public.
The entrepreneurs suggested lowering the legal minimum share price for stocks, which is currently NT$10 (US$0.34). Financial Supervisory Commission (FSC) Minister Tseng Ming-chung responded that as NT$10 has been the stipulated limit for years, this issue has been fully deliberated, and an appropriate amendment will be made by the end of December.
The leaders also recommended another six-month extension (until June 2014) of the Ministry of Economic Affairs' relief period for loans made by members of the Bankers Association of the Republic of China to businesses, a measure which has protected companies from suffering unduly from the effects of the 2008 financial crisis on their debt obligations. Minister Tseng said he has communicated with the bankers association, and it has agreed to this extension.
The FSC is also gradually implementing measures to give the futures industry the expanded space for development it has requested, Tseng said.
"I believe Minister Tseng's positive responses to these questions will greatly move the people who asked them," the premier quipped. "I hope that all government staffers will respond to businesses' propositions as straightforwardly and unhesitantly as he has."
A query was also made about the Act of the Cooperative Education Implementation in Senior High Schools and the Protection of Student Participants' Right. Deputy Minister of Education Chen Der-hwa noted that this law has been frequently discussed since it went into force in January of this year, and some legislators have already proposed revising it. On October 7, the Ministry of Education (MOE) held a meeting among relevant groups about the issue, and while the Legislature deliberates a revision this session, the MOE will recommend the adjustments it considers appropriate in hopes of creating a win-win-win situation for schools, students and industry.
"The Executive Yuan wishes to make corrections in line with industry suggestions, and businesses themselves may urge legislators to expedite legal amendments," the premier said.