October 28, 2005
The Council for Economic Planning and Development approved rules that make it easier for the private sector to take part in the development of infrastructure on offshore islands in mid October. By encouraging the public and private sectors to take part in the development of infrastructure on offshore islands, the government aims to help the nation's offshore islands boost economic activity, create jobs, increase tax revenues and enhance the quality of life of local residents.
The rules permit any government agency or private enterprise that develops offshore infrastructure as part of government policy or that promotes the sustainable development of offshore islands to apply for up to
NTD 100 million in financing at a time for up to a total of
NTD 300 million. Each time 80% of the amount of financing is used up, an application may be submitted for another
NTD 100 million.
The budget for the Offshore Island Infrastructure Fund is currently under deliberation in the Legislative Yuan, but the fund is expected to be granted a budget that will allow for the provision of
NTD 350 million in subsidies and
NTD 1.7 billion in financing in 2006.
From 2001 to 2005, the government has provided infrastructure subsidies of around
NTD 3 billion annually through the Offshore Island Infrastructure Statutes, for a total of
NTD 14.6 billion over this five year period. These subsidies have gone to a wide variety of infrastructure projects, including industrial, educational, cultural, transportation, medical, tourism, police, social welfare, and natural disaster prevention infrastructure.
(Central News Agency, United Daily News)
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