New Southbound Policy Portal

Tsai praises Taiwan’s chain stores industry, vows to spur economic growth

President Tsai Ing-wen said Jan. 11 that the government will continue partnering with the chain store industry and other segments of the private sector in spurring economic growth while strengthening Taiwan’s COVID-19 response.
The country’s success in combating coronavirus and stimulating the economy can partially be attributed to the tireless efforts of franchise operators and front-line workers, Tsai said. This helped improve services and strengthen sector performance for the benefit of consumers and Taiwan, she added.
Tsai made the remarks when receiving Taiwan Chain Stores and Franchise Association representatives and outstanding TCSFA member staffers at the Presidential Office in Taipei City.
According to Tsai, franchise operators played an invaluable role in the distribution of surgical masks and the Triple Stimulus Vouchers. TSVs significantly bolstered Taiwan’s economy as evidenced by record year-on-year monthly sales from July to November 2020 for the catering and retail industries, she said.
Together with similar measures, such as coupons issued by the Ministry of Culture, government initiatives have created NT$179 billion (US$6.4 billion) in economic benefits, Tsai added.
The government will leave no stone unturned in working with homegrown businesses to advance the growth trajectory of Taiwan’s economy, Tsai said, adding that this commitment carries over to maintaining maximum vigilance in managing the pandemic.
Launched in July last year, the TSVs can be spent on a variety of goods and services. They are one of many government undertakings aimed at stimulating domestic economic activity amid coronavirus first reported in the Chinese city of Wuhan in late 2019.
TCSFA, established in 1987, comprises 300 corporate entities operating in Taiwan and across Southeast Asia. The association supports member expansion in major international markets like Australia, Europe, Japan and the U.S. (YCH-E)
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