ECONOMIC DRIVERS: A persistent lack of stable electricity, water, land, labor and talent supply has dampened investment interest in Taiwan, a federation of industries said
Taipei Times
Date: Jul 28, 2018
By: Crystal Hsu / Staff reporter
The Chinese National Federation of Industries (CNFI, 工總) yesterday called on the
Chinese National Federation of Industries chairman William Wong, center, poses for a photograph at a news conference in Taipei yesterday at which he announced the release of the federation’s annual white paper. Photo: CNA
government to value the nation’s manufacturing industry, as other sectors are not mature or big enough to drive economic growth.
“The US and China have sought to beef up their manufacturers in the pursuit of economic growth, but Taiwan is driving them away,” newly installed CNFI chairman William Wong (王文淵) said at the release of the trade group’s annual position paper.
Wong, also the chairman of the nation’s largest industrial conglomerate, Formosa Plastics Group (FPG, 台塑集團), expressed particular frustration over environmental, energy and labor regulations.
FPG, which primarily produces polyvinyl chloride (PVC) resins and other intermediate plastic products, has been blamed for poor air quality near its facilities and is waiting for regulatory approval of its capacity expansion plans. [FULL STORY]
