The Cabinet has approved a plan to stimulate the economy by encouraging investment.
The plan calls for improvements to Taiwan’s investment environment, efforts to promote private investment, strengthened investment in public enterprises, and increased digitization.
National Development Council Deputy Minister Kung Ming-hsin said Thursday that plans to improve the investment environment include changes to industrial and scientific parks rather than having them buy land. Businesses will not be required to buy land, and will instead be able to rent it at favorable rates.
Kung said the government will also boost private investment by setting up a national investment company and putting aside NT$100 billion (US$316 million) for innovation and transformation of industries. State-run enterprises will also receive a cash infusion to kick start growth.
The plan also calls for digitizing infrastructure, initiating broadband acceleration and constructing wireless networks.