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Regulatory Reform Achievement

   

Taiwan’s government actively carries out regulatory reform and adjustment, with the overall aims of building a good business environment, promoting the liberalization and internationalization of the domestic economy, creating good conditions for joining regional economic and trade organizations, aligning with international norms, and injecting the economy with new growth momentum.

Domestic regulatory reform and adjustment have long been an important direction of governance for our government. Apart from the proactive inspection of outdated laws and regulations by central government agencies, the National Development Council (NDC) (previously known as the Council for Economic Planning and Development) serves as a communication platform for coordination and integration between domestic and foreign chambers of commerce and related ministries. To promote the aligning of the domestic economic and trade legal system with international standards, the NDC carefully analyzes all the suggestions received from foreign chambers of commerce and domestic business groups and the initial responses from administrative agencies, as well as convenes inter-agency coordination meetings for harmonization of opinions and deregulation.

With effort from all parties, a number of important regulatory reform achievements have been made in recent years. Substantial progress has been made in opening up financial markets and improving the legal system, talent utilization, as well as the business and investment environment.

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