Siew's team suggests widening scope for venture capital

Taipei, Aug. 27, 2003 (CENS)--President Chen Shui-bian's team of economic advisors suggested the widening of investment scope for venture capital firms so as to help increase the sources of capital needed by enterprises.

This will be among the new proposals to be submitted to the president by the panel of economists headed by former Premier Vincent Siew. Siew and other economic advisors are scheduled to meet President Chen again on Friday.

Siew said the expanding of the investment scope for venture capital will be a crucial step to increase the supply of capital to companies. There is also a need to revise regulations to hook up Taiwan's securities industry with the international financial market and make Taiwan an asset management center in the Asia-Pacific region.

He also urged the Legislative Yuan to ratify the revisions of the controversial statute governing the financial restructuring fund as early as possible.

Siew said that his team will suggest that the government agencies revise the rules to provide protection of debts of various nature in different stages.