Kaohsiung, June 5 (CNA) President Chen Shui-bian said Thursday Taiwan must develop itself into an Asia-Pacific regional resourcing center in the face of economic globalization. "We must step up efforts to attract foreign companies to set up regional operation headquarters as well as research and development centers in Taiwan," Chen said during an inspection tour of state-owned China Shipbuilding Corp. (CSBC).
All local companies should also use Taiwan as an operational base while seeking to build their global business empires. "Local business groups can expand their operations worldwide and set up footholds at any places, including mainland China, while keeping their business roots at home," he stressed.
Chen lauded CSBC staff for their devotion to helping the company stage a miraculous comeback through a restructuring plan. "Just 18 months ago, few people thought that the debt-ridden CSBS could survive. Nowadays, the company has more than NT$50 billion worth of orders in stock which can keep its production line running until 2007," Chen said.
At the end of 2001, CSBC had an accumulated debt of NT$11.18 billion and in 2001 alone the company lost NT$3.1 billion. Through a restructuring plan implemented in 2002, the company managed to achieve a remarkable turnaround. Last year, the company recorded a profit of NT$350 million. "This is an admirable achievement," Chen said, adding that all CSBC staff members should be credited for this enviable success story.