Foreign chambers react favorably to Ma speech

TAIPEI, Taiwan -- Chamber leaders responded mostly favorably to KMT Chair Ma Ying-jeou's presentation to the American, Australia New Zealand, British and European Chambers at the Howard Plaza Taipei Hotel yesterday.

For ANZcham Chairperson Gene Sullivan, the bottomline of both Ma's presentation and a similar economic outline presented to an American Chamber luncheon by DPP presidential candidate Frank Hsieh Nov. 8, is pragmatism.

"This is exactly what the foreign business community in Taiwan is looking for," said Sullivan. "What the KMT was known for when it was in power," he added, "was the long-term economic planning that laid the foundation of the high-tech industry."

"This was the first time that I have heard Ma outline what he would like to pursue in terms of economic policy," said BCCT Vice Chairman Anthony Hui. "I would, however, like to hear more about how he will specifically improve Taiwan-China relations."

"Ma gave a general roadmap of his economic priorities," said Richard Vuylsteke, executive director of AmCham. "Happily, much of this involves domestic investment and building the island's infrastructure to attract not only foreign but also Taiwanese investment."

What made all the chambers happy, said Vuylsteke, was that there "really is recognition that for the domestic economy to prosper, the government needs to get economic relations with China right. That will strengthen the overall economy of Taiwan."

According to Vuylsteke, Ma's 12-step platform has all of the hallmarks of the past major infrastructure projects that drove the economy. "This makes sense. It is a model that worked well before; it could work again."

Sullivan was quick to compare the fiscal policy of both presidential candidates. "We have the basic picture," said Sullivan. "Hsieh wants to cut taxes; Ma wants to maintain them at the current level. What is critical is how that works out in the details." Sullivan also stressed that taxes affect competitiveness. "Tax levels in Taiwan are already much higher than in Hong Kong and Singapore," he said.

Vuylsteke also took note of Ma's tax and investment policies. "Ma looked at regulatory reform; the key is to get rid of restrictions. That is of great importance to members of all the respective chambers."