Symposium to boost investment in Taiwan

As cross-Straits talks continue in the central Taiwan city of Taichung, Taiwan authorities have held a symposium. They are hoping that more information about investment on the island will encourage more business expansion from the mainland.

As cross-Straits talks continue in the central Taiwan city of Taichung, Taiwan authorities have held a symposium.

More than ten mainland entrepreneurs attended the meeting, with representatives from the fields of shipping, automobiles, textiles, and electronics. While the Taiwan side introduced the current status of these industries on the island and relevant investment policies.

Fujian New Land Group -- the first mainland company to invest in Taiwan -- said operations have been smooth since starting in August. But it said there are still some minor inconveniences such as the many procedures to which certain employees are subject when they visit Taiwan.

Wang Jing, Chairman of Fujian New Land Group said "We hope Taiwan can offer more supportive policies, just as the Mainland has launched many preferential policies for Taiwan investors, for example in taxes.

Since June, mainland businesses have been able to invest in Taiwan in the sectors of herbal medicine, automobiles, wholesale, retail and tourism. As of the end of November, 15 mainland enterprises had invested more than 5.8 million US dollars in Taiwan.

Kao Kong-Lian, Vice Chairman of Straits Exchange Foundation said "The two-way investment will definitely create more opportunities for the two sides, so that they can become driving forces of the global economy."

However, that figure of 15 is still small, compared with 80 thousand Taiwan enterprises on the mainland. Taiwan is trying to address this, with this latest symposium to help mainland enterprises find out more about investing on the island.