Taipei, June 8 (CNA) President Chen Shui-bian said Friday that his vow to revive Taiwan's economy is no slogan and the government will live up to its promise.
Stressing that the opening of direct trade, transportation and postal links across the Taiwan Strait is not the only way out of Taiwan's current economic slowdown, Chen said that the government must display its full determination to the public. He urged local businesses not to underestimate Taiwan's own economic clout by cashing in on the mainland Chinese market. "Of course mainland China is a promising market, but Taiwanese firms should not overlook the potential risks while deciding whether or not to invest there," he said, pointing out that "flexibility and diversification are the cornerstone of the stable developments of Taiwan's industries."
The president made the remarks during a visit to S&T Copper Industries Co. Ltd. in Yangmei near Taipei, the first stop of his one-day tour to local factories.
Saying that he was very touched by the strong ambition and vigor of local enterprises, Chen praised S&T Copper Industries for its important contribution to the island's industrial development.
With its advanced technology and comprehensive after-sale services, S&T Copper Industries has successfully transformed itself into Asia's leading copper plaque maker and the world's second-largest, despite the fact that Taiwan must import all of its copper, Chen said.
Lauding S&T Copper Industries' spirit of "breakthrough, renovation, and superior performance," he said that those are the values and principles of the so-called "knowledge-based economy," at a time when the country's industries are facing a critical juncture of rapid transformation.
Chen later paid a visit to nearby China Motor Corporation, where Minister of Economic Affairs Lin Hsin-i once served as a manager and was labeled as "Taiwan's Lee Iaccoca" by the local business community for his remarkable reforms of the company.
Comparing Taiwan to a small sports car, Chen said the country's future is bright as long as local industries pursue continued diversification and technology upgrading. He hailed China Motor as a good example which has created a new image for Taiwan's car industry.
The president further pointed out that he has full confidence in Lin, particularly because of his success in injecting a new lease on life into the ailing China Motor. Describing Lin's success as "no accident," he thanked Lin for leaving the highly-paid post in China Motor and devoting himself to the country. "Reforms take time," Chen said, voicing his strong belief that Lin will do a good job in his current post if he is given a little more time and support.
The president also hailed Lin's performance in the recently-concluded ministerial meeting of the Asia -Pacific Economic Cooperation forum held in Shanghai.