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| The Economic Roundup is an excerpted translation of the Chinese-language ROC Economic Yearbook published by the Economic Daily News, a sister publication of the Taiwan Economic News. The yearbook is the most comprehensive and authoritative source for understanding the fundamentals of Taiwan's economy, both in the macro and micro aspects. The excerpted translation gives foreign readers a concise view of the island's overall economic picture. It is divided into four parts: general economy, primary industries, secondary industries, and tertiary industries. |
| Secondary Industries > Construction Industry |
| The overall business performances of Taiwan's construction industry improved significantly in 2005 mainly as a result of the remarkable turnaround of the domestic real estate market. Whether the business recovery of the local construction industry will last hinges heavily on whether the government will actively promote public infrastructure projects and on whether the firms can smoothly develop the markets for similar projects abroad.
It is expected that low housing loan rates and the reduction of land value incremental tax rates will continue to help bolster domestic real estate trading. Large-scale construction firms are in a position to compete well and benefit more from the booming real estate transactions.
The number of construction firms in Taiwan has been declining at an annual rate of 5% over the past five years. For the moment, there are 1,500 Grade-A construction firms, 1,200 Grade-B construction companies and 5,500 Grade-C contractors in Taiwan. In order to help bolster the development of the local construction industry, the government is planning to solicit NT$200 billion in funds from the private sectors to support the urban renewal projects, among other efforts. |
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