AmCham Taipei reports 8 issues solved in White Paper

TAIPEI – The American Chamber of Commerce in Taipei announced today that eight of the 71 issues raised in its 2018 Taiwan White Paper have been resolved, building on last year’s progress when a record number of issues were solved.

Another 21 issues were showing good progress, said Leo Seewald, chairman of AmCham Taipei, which released its first White Paper 23 years ago.

“Although Taiwan has been making excellent progress over the past two years to address key issues raised in the White Paper, it can’t afford to get sidetracked,” Seewald said. “There’s a great risk that the current momentum will stall if ‘election paralysis’ grips the nation during the presidential campaign. It is important that the reform process continue nonetheless.”

The eight solved issues – three less than the all-time record of 11 last year – included four from the cosmetics industry and one each from the Agro-chemicals, Capital Markets, Human Resources, and Telecommunications and Media sectors.

One new feature in the White Paper is the inclusion of a Digital Economy chapter, which urges the government to set up a high-level agency or commission under the Executive Yuan to deal with nagging issues in the industry. A similar request was made in the Energy and Travel and Tourism chapters.

Also notable is Private Equity’s renewed interest in the Taiwan market. AmCham’s Private Equity Committee had suspended operations last year, discouraged by the government’s apparent negative attitude toward the industry. But after the recent approval of several PE investment cases, the PE Committee has become reactivated – a development that could help attract more desperately needed foreign direct investment to Taiwan.

“We’re witnessing many historic economic and geopolitical shifts, and Taiwan needs to be ready to take advantage of them,” said William Foreman, president of AmCham Taipei. “If Taiwan is ready to take bold action, we’re prepared to do our best to support the country.”

About AmCham Taipei

Founded in 1951, AmCham Taipei works to improve Taiwan’s business environment, making it more open, innovative and prosperous. With nearly 1,000 members from more than 500 companies, the non-profit, non-partisan organization serves as a vital bridge between the U.S. and Taiwan.

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