TAIPEI, Taiwan, (Taiwan Today) – Premier Cho Jung-tai said July 15 that the government is implementing measures and regulatory easing to transform Taiwan into a global asset management hub. The premier made the remarks during a speech at the opening of a privately organised asset management forum in Kaohsiung City, southern Taiwan.
According to Cho, while changes in the global trade order, democratic supply chains restructuring and geopolitical uncertainties pose challenges to countries around the world, these conditions also provide opportunities for economic growth, transformation and upgrade.
Taiwan plays a leading role in the semiconductor and high-tech sectors, Cho said. Therefore, president Lai Ching-te has directed the government to prioritise accelerating further globalisation by launching the Five Trusted Industry Sectors initiative to lay the foundation for further national industry development.
The premier noted that the 10 major artificial intelligence projects being formulated by the National Science and Technology Council cover smart applications, key technologies such as quantum computers, smart robots and uncrewed vehicles and infrastructure development, anticipating that the initiatives will enhance national competitiveness.
To develop an innovative economy, the premier said the Executive Yuan proposed the Trillion NT Dollar Investment National Development Plan in December last year and greenlighted a project to transform Taiwan into an Asian asset management center. Both initiatives will help attract funds from domestic and foreign investors into Taiwan’s public infrastructure and industrial development, he added.
To promote asset management, Cho said measures and strategies implemented by the Financial Supervisory Commission have achieved significant success. These include the easing of 28 regulations, the launch of the Taiwan Individual Savings Account and the establishment of a trial asset management zone in Kaohsiung.
The premier said the government will roll out further measures, including regulatory easing, to launch an Asian version of NASDAQ to attract startups from around the world seeking funding in Taiwan’s vibrant capital market.