President Tsai Ing-wen is encouraging consumers who have not yet used up their COVID economic stimulus vouchers to buy electronics.
On Friday, Tsai attended the opening of an electronics trade show put on by the Taipei Electrical Commercial Association. During remarks at the show’s opening, Tsai said that 2020’s triple stimulus voucher program had been a success, prompting more than NT$100 billion (US$3.6 million) worth of purchases. She said that her administration will continue focusing on the economy this year.
Tsai said that many people in Taiwan, including herself, have yet to use up the quintuple stimulus vouchers the government issued last year. She said that labor-saving electronics such as washing machines, dishwashers, and robotic cleaners are a good use of these vouchers. She said that these products lead to happier marriages and allow families to spend more time together. She also said that replacing old appliances with new ones lowers households’ environmental impact.
The electronics show is being held to coincide with the final weeks before the Lunar New Year, a traditional time for big purchases of new household appliances in Taiwan. The head of the Taipei Electrical Commercial Association says that the rising cost of chips, raw materials, and shipping worldwide means that the price of appliances in Taiwan is likely to increase sharply following the holiday, with price hikes of more than 5% likely in February alone. But he says that exhibitors at the union’s electronics show have been told to keep the prices of the appliances in their booths right where they are.