Tsai calls on state-run firms to help push New Southbound Policy

President Tsai Ing-wen (蔡英文) said Wednesday that state-run companies should play a greater role in promoting the government’s New Southbound Policy and she also urged local governments to join the central government’s efforts in that regard.

Although the policy is mainly for private companies, “we perhaps can also expect state-run companies to play a bellwether role in its promotion,” said Tsai, who is also chairwoman of the Democratic Progressive Party (DPP), during a DPP Central Executive Committee meeting.

Tsai said she hoped that state-run companies would play a more active role in this regard and lead private firms to expand their presence in countries targeted in the New Southbound Policy, according to DPP spokesman Wang Min-sheng (王閔生).

Tsai also called on the Cabinet to assess and use its resources to help implement the New Southbound Policy, which is aimed at advancing ties with countries in Southeast and South Asia, as well as Australia and New Zealand.

“The biggest mission for us in the next stage is to demonstrate the maximized value of the New Southbound Policy,” Tsai said.

She said the policy will bring many opportunities but will also involve potential risks as it involves expanding into new markets and will require investment protection agreements with the targeted countries to ensure protection of the rights of Taiwanese companies.

She also urged Taiwan’s local governments to join the central government’s efforts to implement the policy, which she said will help drive the country’s economic development.

Meanwhile, Minister without Portfolio John Deng (鄧振中), who was invited to the meeting to report on the implementation of the policy, said the government should allocate more funds to help local companies to expand overseas, according to Wang.

Deng said some state-run companies that produce sugar, salt, and bottled water have been in talks on cooperative projects in the targeted countries.

Source: Focus Taiwan News Channel

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