Concerned about the low level of foreign direct investment (FDI) in Taiwan in recent years compared with other countries in the Asia Pacific, the government’s Control Yuan has set up a task force to look into the reasons and propose solutions. The four Control Yuan members making up the task force – Chang Kuei-Mei, Nancy Hsiao-Hung Chen, Lee Yueh-Der, and Liu Te-Hsun – invited representatives from AmCham Taipei and other foreign and domestic business organizations for a discussion of the issue on May 19.
The Control Yuan, one of the five branches of government in the Republic of China, is an investigatory body that monitors the other branches of government. Wikipedia compares it roughly to the Government Accountability Office of the United States, the Court of Auditors of the European Union, a political ombudsman, or a standing commission for administrative inquiry. After completing its study, the task force on FDI plans to submit a report for the reference of the Executive Yuan.
At the May 19 meeting, AmCham Taipei was represented by Senior Director of Government & Public Affairs Amy Chang and Government & Public Affairs Director Katrina Ku. Other organizations that participated in the session were the European Chamber of Commerce in Taiwan, the Chinese National Federation of Industries, and the Taiwan Electrical and Electronic Manufacturers’ Association.
The business representatives mentioned the complicated regulatory process and Taiwan’s lack of Free Trade Agreements with major trading partners as factors that tend to retard investment.