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2017 Business Development Policy

Promote the Reforms of Business Legal System Amendment of the Company Act

Background

The Company Act of the Republic of China(Taiwan) has gone through more than 20 amendments, towards regulatory easing and profits generating so that stay pace with international trends. The most significant amendment was made in 2001. After that, the Company Act was amended for 14 times, including the addition of the electronic voting system and the strengthening of corporate governance to facilitate fund raising. In 2015, the Company Act allowed the incorporation of closed companies in order to create flexibility for entrepreneurs and start-ups. As the industries and economic developments in Taiwan and overseas evolve with increasing digitalization, the Company Act should keep up with the times, respond to the public opinion and create a friendly business environment.

Tasks ahead and expected benefits

It is hoped that this amendment can foster the diversity, flexibility, friendliness, effectiveness and clarity of corporate governance.

Optimization of the business environment

Background

To enhance the facility of the operating business environment in Taiwan, an online portal, "Company, Business and Limited Partnership One-Stop Service Request" was set up in 2011 to effectively simplify the procedures for business setups and expand the service menu offered by the government.

Measures to be put in place

  1. The scope of online services is expanded so that foreigners can register and submit applications online by presenting their Citizen Digital Certificates.
  2. The procedures for online registrations will be improved in order to simplify the requirement for application documents and resolve the compatibility issues for different browsers. The purpose is to encourage the public to submit applications online.
  3. The application of service menu will be expanded to offer features such as online inquiries for company registrations and image data of articles of incorporation. The data will be accessible via downloads or post after the review of the applications.

Tasks ahead and expected benefits

  1. A cost and benefit analysis will be conducted on the payment collection services offered by convenience stores for phone/broadband bills. The goal is to offer a variety of payment options for the public.
  2. A one-stop system will be put in place for the control and management of certification and authorization, in order to simplify the procedures for existing businesses to authorize natural persons.
  3. The website functionality will be enhanced, in response to the amendment to the Company Act. It is hoped that the new system designs and technologies can better our services to the public.

Promoting the Development of Three Key Service Sectors

E-Commerce

  1. Background
    The purpose is to promote the internationalization of E-commerce platforms, the development of overseas markets and the enhancement of cross-industry exchanges and cooperation.
  2. Measures to be put in place
    • E-commerce platforms are encouraged to enter the South East Asian market in order to promote the export of quality products from Taiwan.
    • Assistance will be provided to help Internet start-ups to connect with the international community and seek funding from venture capitalists in Taiwan and overseas.
  3. Tasks ahead and expected benefits
    • The government will assist e-commerce platforms and large brands to develop the South East Asian market and market Taiwanese brands.
    • Local merchandise is encouraged to sell and market over e-commerce platforms.
    • Idea shows will be organized and companies are encouraged to participate in international exhibitions to showcase their innovations, in order to attract venture capital in Taiwan and overseas.

Smart Logistics

  1. Background
    Smart technologies will be deployed in the development of e-commerce logistics, harbour logistics, cold chain logistics and city logistics, in order to enhance the value added of the logistics industry. This will upgrade and transform the logistics industry in Taiwan and help the industry to develop their niche markets overseas.
  2. Measures to be put in place
    • Domestic e-commerce logistics providers are encouraged to optimize their workflows, deploy innovative business models, and apply technologies to develop smart logistics solutions in order to improve their operating effectiveness.
    • The logistics industry in Taiwan is encouraged to initiate value-added activities and offer transit and dispatch services at harbours, deploy smart technologies to boost the operating efficiency at harbours in order to attract the dispatch and distribution of foreign goods and create new business opportunities in the international market.
    • The industry is encouraged to integrate the distribution capacity of the cold chain logistics and develop the solutions to transfer and dispatch food ingredients from different countries. The purpose is to integrate the retailer system, facilitate high turnovers in the service network and establish Taiwan as a hub for the transfer and dispatch of food ingredients from different countries.
    • The industry is encouraged to promote the last-mile distribution services in the city, deploy autonomous access networks (self-pickup stations) and cold chain delivery services with motorcycles, and build a tracking and management mechanism to trace and monitor the temperatures and the journey of goods.
  3. Tasks ahead and expected benefits
    • The government will promote the upgrade and transformation of e-commerce logistics service providers in Taiwan and assist in the establishment of overseas presence and the expansion of service networks.
    • The government will assist the logistics industry in the development of value-added services and activities and the improvement of operating efficiency at harbours.
    • The government will push the development of the high-capacity cold chain logistics services and cross-border dispatch and distribution system for food ingredients from different countries, and support the sales and services of frozen goods in Taiwan and overseas.
    • The government will encourage industry players to participate in the deployment of innovative logistics services in metropolitans and the tracking and management mechanism for storage, dispatch and temperature.

Internationalization of Food & Beverage Industry

  1. Background
    The purpose is to increase revenues for the restaurants and encourage investment and expansion by enhancing the internationalization and publicity of the food & beverage industry in Taiwan through technological support, international marketing and cooperation.
  2. Measures to be put in place
    • The government will assist the food & beverage industry in Taiwan to apply new technologies in the optimization of internal management or service flows, to access venture capital and to develop business talents in order to compete internationally.
    • The government will organize marketing events, trade shows and conferences in Taiwan and overseas for domestic food & beverage companies and invite international press to these activities in order to increase the industry's international exposure.
  3. Tasks ahead and expected benefits
    The government will support the food & beverage companies in the introduction of technology, Big Data and industry upgrade and transformation. This will be in synchronization with the government's new policies to develop the South Asian markets with international marketing and collaboration, in order to set the foundation for the international presence of the domestic food & beverage industry.

Smart Commerce

Background

This is a response to keep up with the increasing intelligence in businesses and services, as well as an effort to tackle the concern over rising labour costs due to lowering birth rates in Taiwan. This can be achieved with technology driving smart commerce, innovation and services in order to energize domestic consumption and drive business growth and transformation.

Measures to be put in place

  1. The government will drive the development and integration of software and hardware required for smart retail and logistics and worth with industry players to create use cases by introducing innovative services and business opportunities.
  2. The government will provide grants and subsidies to assist small-and-medium enterprises to deploy smart commerce technologies on a large scale and launch services and applications to cater to consumers' needs.
  3. The government will promote the use of mobile payments and the scale-up of loyal award point economy on a smart point-of-sale platform, and assist industry players to attract customers, merchandises and businesses.

Tasks ahead and expected benefits

  1. The government will assist retailers and logistics service providers to create the benchmark practice and success stories for innovative technologies and applications. This can be achieved with the introduction of smart services throughout business premises and the creation of user experience for consumers, so as to attract investments.
  2. The government will develop a test ground for smart business applications by introducing innovative technologies to promote the launch of smart retail and logistics services.
  3. The government will foster the mechanism to exchange and match innovative ideas for smart commerce, deploy a system for talent training and development, and support the creation of innovative services and the upgrade of the industry.

Chain Stores and Franchise Networks

Background

The domestic market is reaching saturation but the chain stores and franchise networks continue to expand. To assist the development of the industry and improve the quality of companies, the government seeks to integrate the resources from all parties, encourage brand management and innovative thinking, and develop internationalization capabilities.

Measures to be put in place

  1. This government will provide consulting and matching services according to the scale and business strategies of the chain stores and franchise networks. The purpose is to improve the health of companies, expand the industry's scale and develop talents and human resources.
  2. The companies with the potential for internationalization are encouraged to export services, pursue international expansion and deepen their local developments.

Tasks ahead and expected benefits

The government will provide appropriate support, according to company needs or competence gaps, in order to improve the operating mechanism and better the competitiveness of companies. It is hoped that chain stores and franchise networks can learn from success experiences overseas and by sharing with other players to step up their market expansion and internationalization momentum.