Taipei, Oct. 8 (CNA) President Chen Shui-bian said Wednesday that the worst is passed for Taiwan's economy as evidenced by the fact that 30 world-class companies plan to open research and development (R&D) hubs in the country by 2006.
Chen made the remarks while taking part in a ceremony at the Presidential Office marking the publication of a new book picturing his journeys to 319 villages and townships across Taiwan over the past three years since he came to power in May 2000.
Saying that only actions will make dreams come true, Chen said that the hard days for Taiwan are already over, as the domestic economy has shown strong signs of recovery at a time when Taiwan is facing a historic juncture.
In view of the dramatically changing situations in the international community, Chen stressed that the government is determined to continue with reforms on all fronts to make Taiwan into a competitive country.
Citing the newest report made public in August by the Switzerland-based Business Environmental Risk Intelligence, he said Taiwan still was rated as one of the world's best countries in terms of investment climate - tied for fourth with Japan among the major 50 countries cited.
Chen said Sony and HP, two of the 24 foreign-based multinationals wishing to establish R&D centers in Taiwan, have been granted approval. He forecast that by 2006, an additional 30 international business groups will also open such facilities in the country, proof that the government's trade and monetary liberalization and market opening efforts have paid off.
He said he strongly believes that more world-class enterprises will be willing to invest in Taiwan after the 2003 Taiwan Business Alliance Conference slated for Oct. 19-22 in Taipei has been held.
Stressing that building Taiwan into a "green Silicon Valley" has long been his commitment to the people of Taiwan, who are deeply concerned about humanitarian values and environmental protection, he said Taiwan must become a progressive society and a full-fledged democracy in which human and cultural interests and physical infrastructure are paid equal attention.
The president also attended later the same day the inauguration of an exhibition hall inside the presidential building which features Taiwan's top international products.