Friday, January 24, 2003
After the implementation of a variety of rules and regulations, the Ministry of Economic Affairs (MOEA) said the new measures will attract foreign investors to Taiwan, worth of NT$35 billion inbound capital this year.
Earlier this week, the ministry said they will hold global investment summit in October, the ministry will focus on potential investors in Japan, Europe, and the United States. Trade delegations will also be sent to these areas to hold investment seminars intended to explain the government's easing of regulations and incentives offered to investors. A special "one-stop shop" will be set up to cater specially for potential Japanese investors.
The one-stop service center set up by the MOEA is intended to help investors solve all problems at each stage of the process. MOEA said the project will enable investors to enjoy extended tax breaks and much lower rental fees for using land in the state-owned industrial parks. The R&D center projects are expected to contribute NT$6.5 billion to the total anticipated foreign capital injection of NT$35 billion.
Meanwhile, the government has introduced a micro-loan program, offering preferential loans of up to NT$1 million at three percent interest to those jobless people age between forty to sixty-five years old. "The program will be a cure for the nation's hardest-hit unemployed group, aged between 45 to 65, who are usually the chief wage-earners in the family," Premier Yu Shyi Kun said yesterday.
The micro-borrowers who meet the age requirements will also be required to propose business plans that include employing up to five staff members. Local banks will carefully review the feasibility and profitability of the business plans before deciding whether loans will be granted. The economic minister Lin Yi Fu said the actual loan interest rate is 8 percent but the CLA will subsidize the loan to make the effective interest rate 3 percent.
The maximum term of the loans will be six years. The ministry expects that within one month there will be at least 100 applicants applying for loans under the program.
By: DocMemory
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