Special legislation approved to fund new public infrastructure projects

August 23, 2004

The Legislative Yuan has passed the Special Statute for Expanding Public Infrastructure Investment, which allocates a special budget of NT$500 billion to be spent over five years on the 10 New Major Construction Projects plan, which includes culture, education, transportation, technology, and water resources. The goal of this new legislation is to accelerate the development and upgrading of the economy.

The Executive Yuan estimates that the 10 New Major Construction Projects will generate an average of 64,000 jobs and add 1.0 to 1.03 percentage points to real GDP growth per year during its implementation. The projects are also expected to increase tax revenues by NT$70 billion to NT$150 billion over a five-year period, and over the coming 25 years, the tax boost is conservatively projected at NT$240 billion. For further information on the Special Statute for Expanding Public Infrastructure Investment, please visit: http://law.moj.gov.tw/fn/fn4.asp?id=21842 (Chinese only).

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