By Crystal Hsu / Staff reporter, with CNAThe National Development Council (NDC) yesterday said it has found a proper candidate to head a state investment company and raise funds to help promising firms thrive. The equity fund still needs procedural approval from authorities and could start operations within six months, he added. Taiwan’s nominal GDP is expected to increase by NT$1.1 trillion (US$36.47 billion) and real GDP by NT$975.9 billion during the program’s eight-year duration, the council said in a statement. Whenever the government makes an investment of NT$10 billion, Taiwan’s nominal GDP generally rises by about NT$11.2 billion and real GDP generally increases by NT$10.8 billion, the council said. The infrastructure program is expected to strengthen the competitive edge of Taiwan’s industrial sector and eventually boost economic growth, the council added.

Source: Taipei Times May 15, 2017 16:11 UTC