Premier pins hopes on increased investment to boost economy, pay

Taipei-Taiwan's government will prioritize increasing foreign and domestic investment to boost the country's economic and wage growth, Premier Lai Ching-te (???) said Tuesday.

Speaking at a forum on attracting investment in Taiwan, Lai said his Cabinet's most important task is to strengthen Taiwan's economic development, and the main driver of economic growth lies in encouraging investment in the country.

If there is insufficient investment in Taiwan, its economy could lose its momentum and the ability of businesses to raise wages will be limited, Lai said.

The government decided in September 2017 to give a 3 percent salary raise to all public employees in 2018, hoping that employers in the private sector would follow suit as part of an effort to stimulate the economy.

President Tsai Ing-wen (???) said in December her ideal figure would be a monthly minimum of NT$30,000.

To meet the goal, the government is taking steps to increase investment in Taiwan, the premier said.

The measures include eliminating obstacles to investment by addressing potential shortages of water, electricity, workers, land and talent, relaxing labor regulations, and establishing an inter-agency investment platform to expedite investment projects, Lai said.

The government will also devote more effort to encourage startup investment by easing regulations and creating a more friendly investment environment, Lai said.

Source: Focus Taiwan News Channel