President Tsai Ing-wen has called on state-owned enterprises to lead the way in implementing the government’s New Southbound Policy.
The policy aims to strengthen Taiwan’s ties with South and Southeast Asia, Australia, and New Zealand.
After a meeting of the ruling Democratic Progressive Party’s Central Executive Committee Wednesday, Tsai said that while the policy is focused on private enterprises, state-owned enterprises have the organization needed to break into these markets.
During the meeting, Tsai also spoke about the need for investment protection agreements with countries in the areas covered by the New Southbound Policy. Tsai also said she hopes that her Democratic Progressive Party can facilitate the New Southbound Policy by bringing together different Taiwanese business organizations based overseas.
Tsai said that the New Southbound Policy has its risks, but that it can also benefit Taiwan’s strategic interests and economic development.