Greater private investment sought for i-Taiwan 12 Projects
By Freesun News at 30 November, 2009, 1:10 am
The Cabinet approved the plan for the i-Taiwan 12 Projects on Nov. 26, 2009. To reduce the financial burden the implementation of this scheme would place on the government, all involved government agencies will work to boost private-sector investment. In addition, all public construction projects are to be integrated with land development plans and implemented with the support of multiple agencies, so as to increase the self-liquidation ratio.
Officials at the Council for Economic Planning and Development (CEPD) said that the i-Taiwan 12 projects, which cover a total of 278 items, will require an investment of NT$3.99 trillion (US$123.6 billion) over the next eight years, with NT$2.79 trillion (US$86.4 billion) being provided by the central government and NT$1.2 trillion (US$37.2 billion) by the private sector, making for a public-private investment ratio of 7-to-3.
According to the CEPD, among the 12 projects, private-sector participation is needed most in the construction of metropolitan MRT networks in northern, central and southern Taiwan as well as an island-wide underground railway system; the transformation of Kaohsiung into an international cargo container center and Taoyuan into an aerotropolis; the establishment of free trade ports; and the development of areas near high-speed railway stations, the Central Taiwan Science Park and the High-level Research Park.
The i-Taiwan 12 projects are expected to 1) upgrade the nation’s infrastructure and stimulate economic growth; 2) boost both public- and private-sector domestic investment; 3) raise per-capita income and create job opportunities; 4) improve the quality of life and the overall living environment in Taiwan; and 5) engender a fairer distribution of income. As well, the projects are projected to raise average real gross domestic product by 2.97 percent and create 247,000 job opportunities.
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