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Deregulation Launched to Eliminate Investment Obstacles Print Share

Accelerating regulatory adjustment and increasing the dynamism and flexibility of regulations is of pressing urgency to respond to the rapidly-changing international environment. Based on the principles of benefitting the people and simplifying administrative procedure to provide convenience for the public, the National Development Council (NDC) pursues the objective of promoting tangible regulatory reform outcomes that the people can see and enjoy. With priority given to economic and financial regulations and beginning with review of interpretive rules, directions and rules and regulations, obstacles to corporate investment will be eliminated and a more convenient, efficient and business-friendly regulatory environment established. 

The deregulation work facilitated by the NDC will focus on the following areas, specifically: 1.With the precondition of legality, adoption of non-restrictive administrative measures should first be considered when new business models do not involve legal prohibition or restriction 2. When an administrative organ applies an interpretation of a regulation for one case, the unique context and difference of individual cases should be considered and the single case interpretation should not be applied uniformly. 3. Interpretive rules that set an excessive number of restrictions beyond the scope authorized by the parent law should be promptly revoked 4. Each ministry/agency should review rules and regulations set under “Other related administrative matters” authorized by law. 5. Administrative directions set to execute laws should be flexible. 6. Simplification of administrative procedure (such as application and review process).

At present, the deregulation work at each ministry/agency is supervised personally by its head or designated deputy. From October 11, 2015, ministries and agencies with finance or economic portfolios (Ministry of Finance, Ministry of Economic Affairs, Ministry of Labor, Financial Supervisory Commission, and Public Construction Commission) will be required to report deregulation agendas and results that the people can see and enjoy at the Inter-Ministerial Meetings on Boosting Investment in Taiwan every two weeks. The remaining ministries/agencies will be required to report their respective deregulation agendas and results every quarter, from mid-December 2017. 

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