President Ma Ying-jeou met with a delegation of outstanding overseas ethnic Chinese business leaders at the Presidential Office on the afternoon of October 19. Besides praising overseas compatriots for their contributions to the nation, he encouraged them to take advantage of the opportunities that Taiwan offers to invest here.
The president first remarked that many overseas compatriots have donated time and money, and even sacrificed their lives, to support the nation during its establishment, the War of Resistance against Japan (1937-1945), and its post-war period in Taiwan. The president cited the example of Arthur Chin, an overseas compatriot who was 19 years old at the time of the Mukden Incident (on September 18, 1931, which led to the Japanese occupation of Manchuria). He recruited 13 overseas compatriots to train as pilots in Guangzhou, and they ended up shooting down eight enemy planes. The men displayed admirable patriotism and made an enormous contribution in the early part of the War of Resistance against Japan.
President Ma stated that while Taiwan's economy over the past two years was severely affected by the financial tsunami, it has recovered quickly. Economic growth in the first half of this year was 13.1%, and growth for the year is expected to hit 8.24%, he said, furthermore noting that economic growth next year is expected to be at least 4%. In addition, Taiwan ranks first globally in import growth, and second in export growth, while the tourism industry here last year posted growth of 14.3%. Coupled with a reduction in the estate tax and policies aimed at generating growth in the solar power and LED industries, Taiwan's developmental potential is huge, he said.
The president furthermore said that since signing the Economic Cooperation Framework Agreement (ECFA) with mainland China in June this year, the government has embarked on a major initiative to attract investment. He said that initial efforts are expected to attract some NT$300 billion worth of investments, and added that the ECFA early harvest list should generate up to NT$190 billion worth of economic output and 60,000 jobs in Taiwan. He expressed confidence that the nation's unemployment rate, which fell to 5.17% in August, will drop to below 5% by the end of this year. In addition, the government will continue working to build up Taiwan as a global center for innovation, an economic and trade hub for the Asia-Pacific region, a global operations headquarters for Taiwan companies, and a regional headquarters for foreign companies.
With regard to media reports speculating on a meeting between himself and mainland China leader Hu Jintao, the president stressed that the government has consistently embraced the principles of first discussing economic issues before political topics, broaching easier issues before tougher ones, and addressing urgent topics before non-urgent ones. The most important matter at present is to ensure the interests of Taiwan companies, he said, adding that while the government over the past two years has strived to improve cross-strait relations, there nonetheless are still issues that need to be tackled, such as an investment guarantee agreement. Taiwan companies have invested at least NT$60-70 billion in mainland China over the past two decades, and perhaps as much as NT$200 billion, but they are not protected by any agreement. Consequently, the government is placing priority on establishing an investment guarantee agreement and a dispute resolution mechanism, and placing cross-strait economic relations on a systematic footing. Doing so will provide a platform for fair competition, and enable Taiwan companies to do business more confidently in the mainland. The president said that cross-strait ties are gradually building the basis for mutual trust. For example, negotiations on the ECFA and cooperation in fighting criminal syndicates constitute confidence building measures. The government will move steadily forward in establishing mutual trust between the two sides, so that the people of Taiwan can truly understand that this is the right path.
The group, which included Richard Lin (Chairman of the Board at Dynamotive Energy Systems) and Don J. Wang (Chairman of the Board at MetroCorp Bancshares), was escorted to the Presidential Office in the afternoon by Cheng-Yung Hsu, Vice Minister of the Overseas Compatriot Affairs Commission, to meet President Ma. Also attending the meeting was Deputy Secretary-General to the President Liu Bao-guey.