Region:
Asia
Category:
Economy
Article type:
Informed

The Economy Pilot Taiwan Free Zones are the new growth engine

Region:
Asia
Category:
Economy
Article type:
Informed
Author/s:
By Pablo Pla
Publication date:
Print article

Taiwan thus facilitating the creation of a free trade market on the island that will help it become a "perfect gateway" for investment in the Asia-Pacific

Taipei, sent especial.- ABC MUNDIAL participated in a series of meetings, lectures and multimedia presentations with officials from the Pilot program launched Free Zone Economy launched last year, the government of President Ma Ying-jeou.

They consider the establishment of "demonstration zones free economy" is helping to create more favorable conditions to accelerate the participation of the Republic of China in regional economic integration.

The day began with a presentation by Dr. Yun-Peng Chu, he recognized economic expert and former Minister of State, Jiann-Chyuan Wang and Hsin-Chang Lu, all members of the National Policy Foundation, who provided details of the favorable position the operation of the Pilot Free Economics zones (ZPLE).

Pilot tests are running, for example, in the ports of Taipei, Kaohsiung, Keelung, Taichung, Su-ao and Anping; Taoyuan International Airport, Taiwan's main international gateway of the nation; and Park Pingtung Agricultural Biotechnology.

More than 40 companies, including several foreigners, are working successfully.

Taiwan has underlined the commitment of the island to participate in regional economic integration, and in this sense has recalled its aspirations to join the agreement (TPP) Trans-Pacific Partnership and Regional Comprehensive Economic Partnership (RCEP), both currently under negotiation.

As opined, Taiwan thus facilitating the creation of a free trade market on the island that will help it become a "perfect gateway" for investment in the Asia-Pacific. As an alternative or complement to Singapore.

The day of meetings in Teipei continued with a visit to the Ministry of Foreign Affairs of Taiwan, where a reception led by Deputy Minister Vanessa YP performed Shih, who entertainment reporters, welcomed them and stressed the important role of the media reporting on Free Economic Zones Pilot.

There we could also talk to Cheng Chih Han, the Office for Latin America and the Cabibe of Foreign Affairs of Taiwan.

The technical details of the program were discussed in both the National Development Council, with the talk I had with the owner Cheryl Tseng, as well as the Ministry of Economy, where the Deputy Minister Shih-chao Cho and his officials, given the characteristics of this plan is already underway.

The Free Economic Zones Pilot offer a quality and friendly operating environment based on a model of economic freedom. They point out, is marginally more flexible restrictions on the movement of goods, people, capital and information, creating a more open market.

The aim is to promote value-added activities, for which five have been selected activities at the initial stage: smart logistics, international healthcare services, value-added agriculture, financial services and educational innovation.

The plan was launched in August 2013 and is considered a new engine for growth in Taiwan.

The advantages offered to have it as an option to invest is that it is an open and dynamic economy, which is strategically located in Asia Pacific, manufacturing and high-tech industry leader in the world, along with a supply chain structure and abundant capital.

Another mentioned issue is the proximity of mainland China, with whom he signed in 2010 a framework agreement on economic cooperation. And the good trade relations with neighboring countries and cities: Mainland China, Hong Kong, Japan, Korea, India and Southeast Asian region.

Taiwan offers one of the most competitive tax systems in Asia. An average of 4.23% for industrial products and a tax rate of 17% on corporate income.

The fine print of the program, the benefits story mentions that some restrictions on hiring people relax, that industrial raw materials, goods and equipment and enjoy free flow of tax exemption, as well as being 100% free the corporate income tax assets of foreign owners and Mainland China (including Hong Kong and Macao).

In general terms to provide a friendly business environment that includes high quality investment advantages to hiring, tax exemption on production and distribution agile and operate 24 hours shipping.

Traslation Belén Zapata