Premier Lai Ching-te today convened the sixth in a series of interministerial meetings aimed at accelerating investment in Taiwan. Following a report by the Ministry of the Interior (MOI) on review mechanisms for land development, the premier praised the MOI for responding to the needs of society with a number of enterprising proposals, including requesting that organizations submitting development plans first conduct their own reviews, establishing a preliminary review mechanism within the MOI and proposing a system of controls for major projects. To speed the development and use of land, the MOI also proposed that case reviews and environmental assessments could be conducted concurrently to save time.

With respect to urban planning modifications, Premier Lai instructed the MOI to consider delegating review and approval to local governments for small-scale or straightforward projects that meet set conditions. For major projects, the MOI was directed to simplify the review process and establish clear and measurable standards for approval. The MOI should also establish reasonable responsibilities and a reward mechanism for urban planning and development, as well as research the possibility of credits based on investment or other contributions.

As for non-urban development, Premier Lai instructed the MOI to join with the Ministry of Economic Affairs and other responsible ministries and agencies to take the initiative on planning out the use of land reserved for industrial use in response to industry restructuring and investment needs as part of the national spatial plan that will go into effect in May of 2018.

The MOI was further instructed to compress the three-step process for reviewing the zone expropriation of land into two steps.

The Ministry of Finance (MOF) reported on ongoing efforts both to encourage the insurance industry to invest in public works and using an arbitration mechanism to settle disputes. The premier said that there were limits to insurance industry investment in construction or operation of public projects, based on considerations of safety, profits and the public good. However, the MOF and Financial Supervisory Commission should continue to use appropriate measures to create a healthy environment for attracting insurance industry investment in public works.

Long-term care is an important policy at present, the premier continued. To sell related insurance products, insurance companies must ensure service quality at long-term care institutions on the back end, which necessitates their entry into the long-term care industry. The premier instructed the Ministry of Health and Welfare to assist the industry by analyzing the needs of insurance companies, consolidating their methods, and making full use of the insurance sector’s resources as part of efforts to promote long-term care in Taiwan.

Regarding the National Development Council’s report on the progress of financial and economic deregulation, the premier said the efforts have already yielded success thanks to enthusiastic support from ministries and agencies charged with finance and the economy. He asked the agencies to continue the diligent review of the regulatory system to create a friendly environment for businesses.