Since taking office in 2016, the Tsai administration has promoted its New Southbound Policy as a key element in stimulating the Taiwan economy and providing Taiwan with more international space. What does the policy entail? Will this new direction compromise business investment in China? How will the government assist Taiwan’s corporates to expand their business to Southeast Asia and South Asia?
At a special AmCham Taipei luncheon meeting held at the Grand Hyatt Taipei on November 1, Tsai Chi-Chang, Deputy Speaker of the Legislative Yuan, gave a Chinese-language presentation explaining the basic framework of the policy and how it relates to current conditions in cross-Strait relations.
Tsai’s main points included:
- Stable Relationship with China – Maintaining stable cross-Strait relations remains the government’s top priority. Promoting the New Southbound Policy is not meant to discourage Taiwanese companies from investing in China.
- Additional Business Opportunities – The primary purpose of this policy is to increase investment options for Taiwan’s businesses.
- Leveraging Taiwan’s Advantages – Taiwan continues to be one of the top investors in Southeast Asia, while the number of workers, students, and tourists from Southeast Asia has been growing steadily over the years. Taiwan should seize the chance to turn these relationships into a business advantage.
Economic growth remains the core goal for the government. Although there are many obstacles, the government is determined to keep improving investment environment for Taiwan’s companies.
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