Taiwan mulls measures to bolster economy following virus fallout

Supportive measures to focus on driving domestic demand and buttressing travel industries

Taiwan News
Date: 2020/02/13
By:  Huang Tzu-ti, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — The Taiwan government is discussing measures on Thursday (Feb. 13) to prop up the country’s economy and help cushion the impact of the Wuhan coronavirus (COVID-19).

Aid to the five service industries, including dining, retail, MICE, commercial districts, night and traditional markets will be the focus of the meeting. In addition to loans, government support will also be pledged for digital transformation, environment enhancement, and nurturing talent for the affected businesses, said Cabinet Spokeswoman Kolas Yotaka.

While bolstering companies by granting new loans, the government will consider holding major sale events and doling out vouchers to boost consumption. Bailout plans and subsidies will also be implemented to help the travel industry weather the crisis — which is being hit hard by ticket and room cancellations, wrote CNA.    [FULL  STORY]