Taiwan offers a better environment than China when it comes to starting a business. That’s the word from National Development Council (NDC) Minister Woody Duh on Monday.
In an interview with RTI, Duh said more than 10 billion Taiwan dollars (US$333 million) has been earmarked for young people to help them start their own businesses.
Duh said the government has also relaxed rules and taken steps to attract international venture capital firms.
“Although China has a lot of capital, its rules and regulations, rivalry among competitors and internet censorship are relatively less open than Taiwan," said Duh.
"China is also not as receptive to [new ideas] as Taiwan.”
He said keeping abreast of the international community is the best way to prevent the exodus of talent. That’s because only as it opens up to the rest of the world will Taiwan be able to compete with other countries.