In an effort to stimulate the investment potential of public works in the country and quickly bring together the private sector to tap into public works investment opportunities, the Ministry of Finance convened the “Taiwan PPIP investment convention and awards ceremony” at the Taipei International Convention Center this afternoon (7th). In total 72 public works projects worth more than NT$180 billion were announced, including the promotion of private participation in infrastructure projects, land development (including the creation of superficies), government-led urban renewal, and rental.
In 2019, with strenuous efforts by various agencies, there were 95 cases of private participation in infrastructure projects. The investment amount reached NT$174.5 billion, and the results were quite impressive. Vice Premier Shen Jong-Chin presented the 2019 PPIP Distinguished Awards for Excellence to five agencies: The Ministry of Transportation and Communications, Taipei City, Taichung City, Hsinchu County, and Penghu County. Minister Lin Chia-Lung of the Ministry of Transportation and Communications, Mayor Ko Wen-Je of Taipei City, Vice Mayor Huang Guo-Rong of Taichung City, County Mayor Yang Wen-Ke of Hsinchu County, and Director Cheng Chia-Wei of Penghu County represented the respective government agencies to accept the commendations, showing the determination of the central and local government bodies to collaborate in promoting private investment in infrastructure projects.
Vice Premier Shen Jong-Chin said that the Executive Yuan highly values the private sector's efforts in participating in infrastructure projects. In the 20 years since the introduction of the Act for Promotion of Private Participation in Infrastructure Projects, the efforts have generated a total of more than NT$1.8106 trillion in investment and created more than 280,000 employment opportunities, contributing greatly to our nation's economic growth. The NT$180 billion in business opportunities now brought by the private participation program introduced by the Ministry of Finance have projects in which investors will surely have an interest and actively invest in them.
Minister Su Jain-Rong of the Ministry of Finance pointed out that public infrastructure is critical to the quality of life of the people and is also an important foundation for driving economic growth. National governments around the world generally face issues concerning having limited resources to serve the urgent needs of the people. The adoption of the public-private partnership (PPP) model can help guide resources from the private sector into public infrastructure projects, and this has become a trend around the world and is also the focus of our country's administrative policies. Minister Su also used the successful BOO project of "Logistic Republic Taipei Cold Chain Park" of the Cathay Ruifang Large Logistics Center in 2019 as an example, and hoped that government agencies would continue to draw investors to participate in infrastructure projects to provide the people with even better public services.
The investment conference introduced projects into the tender process which will be announced in the 2nd half of 2020 and 1st half of 2021. The more high-profile cases included the “Creation of Superficies for Land Lot Nos. 88, 91, 93, Ruanqiao Section, Beitou District in Taipei City, totaling NT$31.8 billion,” “Development and Management Project of Business Development Area Xingaotie, Taichung HSR Station Area, totaling NT$14.7 billion,” “Construction and Operation Investment in Tourism and Recreation Area of the Port of Taichung, totaling NT$12 billion,” “Kaohsiung Lotus Pond Lakeside Development Project, totaling NT$12 billion,” "Development Project of the Passenger's Complex Commercial Building of the Port of Keelung, totaling NT$10.95 billion,” “The Build-Operate-Transfer (BOT) Project of Taichung City Rehabilitation Hospital and Taichung City Geriatric Hospital, totaling NT$8.4 billion,” and “Taichung Multifunctional Arena OT and BOT Project, totaling NT$8 billion.”
In response to the severe impact of COVID-19 on the domestic economy and society, the conference arranged a marketing and promotion area to advocate for the "Triple Stimulus Vouchers" program, a collaboration between the private sector and the Executive Yuan. Demos, marketing materials, and films were used to help companies in the private sector market their products and services, which earned praise from event participants.
The participation from players in various industries this year was very active. More than 200 participants were at the event, including representatives from well-known development and construction companies or builders (Continental Engineering Corporation, Prince Housing & Development, Kedge Construction, Cathay Real Estate Development, BES Engineering Corp., Da-cin Construction, Ruentex Development, RSEA Engineering, Radium Life Tech, and others), insurance companies (Yuanta, TransGlobe, Nan Shan, Fubon, Shin Kong, Bank of Taiwan, and others), hospitality companies (Nan Ren Hu, Sherwood, Riverview, Gloria), department stores and retailers (PX Mart, FamilyMart, Breeze, Hsin Tung Yang, TASA MENG, Eslite, Far Eastern, President Chain Store, and others), banking industry (CTBC Bank, First Commercial Bank of Taiwan, Chang Hwa Bank, Hua Nan, Bank of Taiwan, and others) and consulting firms (CECI, GTCI, MAA GROUP Consulting Engineers, Stantec, Lee and Li, Attorneys-at-Law, PwC Taiwan, and others). The information on the investment conference can be found at the Promotion of Private Participation website of the Ministry of Finance at https://ppp.mof.gov.tw
Press release contact person: Section Chief, Tung Wei-Shuo
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