Taipei, Dec. 2 (CNA) The government has begun work to build Taiwan into a high technology capital-raising center as part of its efforts to promote the development of the country's capital market.
Vice President Vincent Siew said Wednesday at a forum on company management that the Financial Supervisory Commission and other relevant government agencies are mapping out measures to develop a financial center with what he described as "Taiwanese characteristics." There has been a good industrial and value connection in the up-, mid- and downstream of Taiwan's high tech industry that can be used by the industry -- one of Taiwan's most internationally competitive -- as a base for the planned center, said Siew.
Economic and financial consultants to the government have advised that Taiwan should take advantage of its edge in the high tech sector to attract foreign companies to list on Taiwan's stock market.
Siew stated that as countries around the world attach importance to company management, strengthening management will not just help the sustainable development of a company, but will also attract international investors to Taiwan.
As a small export-oriented country, Taiwan faces powerful competitors in the international market. In that regard, the government will continue efforts to help local companies reinforce their management, Siew said.
Siew is the incumbent chairman of the Cross-Straits Common Market Foundation and he chaired the Chung-Hua Institution for Economic Research before being nominated as a vice presidential candidate in 2007.
(By Erin Ho and Elizabeth Hsu)
Source: etaiwannews.com/
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