Taiwan to offer lure to investors

Taiwan is increasing efforts to become a regional commercial centre with new plans to allow foreign investors to develop and manage industrial parks.

The move is another attempt to liberalise its previously restricted economy and push Taiwan to become a top financial, transport, communication and commercial centre in the region by 2000.

The advocate of the plans, the Co-ordination and Service Office for the Asia-Pacific Regional Operation Centre, said proposals had been put to the government.

Senior co-ordinator Annie Chang said Taiwan not only would allow foreign investors to become developers of industrial parks, but would also allow them to lease the developed land to other investors.

'This is the first time that foreign investors will be allowed to develop industrial parks, manage them and in turn lease them out to others,' she said.

'Previously, foreign investors were only allowed to acquire land lots and build their factories on them - strictly for their own use.' Ms Chang said the proposals had gained the support of the Economic Ministry, but still needed the approval of the Interior Ministry.