Post-ecfa Strategies
After President Ma's press conference Thursday on his post-ECFA strategies, experts still have doubts over the prospect of foreign investment recruitment. They point out that there is a shortage of concrete incentives to attract foreign investors, and the government can't afford to be overoptimistic.
During his Chinese and English ECFA press conferences,President Ma Ying-jeou discussed Taiwan's post-ECFA economic strategy and the establishment of global economic strategy and foreign investment recruitment committees.
Analysts say that Ma's China-focused economic strategy will benefit the manufacturing industry,but that Taiwan should be focusing on developing relationships with other nations to benefit the innovation, service, and research and development industries.Some also believe that ECFA, while advantageous to the economy as a whole,will affect the allocation of domestic profits and the government will need to reach a consensus with academic, industrial, and civic circles to minimize the impact.
As for the government's plans to attract foreign investment,analysts say that efforts will only be successful if Taiwan first overhauls its wage balance, factory land acquisition, and national health insurance systems.The service industry, which accounts for 70% of Taiwan's industry, will also need to globalize to be competitive.
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