Taiwan

Transport Minister submits resignation over THSRC


Published

Minister of Transportation and Communications Yeh Kuang-shih tendered his resignation yesterday after the parliamentary Transportation Committee failed to support his plans for the financial restructuring of the Taiwan High Speed Rail Corporation (THSRC).

The company has been in debt for a number of years and the Minister made it a priority when he was appointed in 2013 to address the financial problems. The restructuring plan he had put in place would have secured the future of the company for a further 59 years according to the Ministry. However, members of the committee felt that the extension of the operator’s concession would only benefit investors and not the public. The Ministry’s plan required bipartisan support to get the go ahead.

Spokesmen for President Ma Ying-jeou and Prime Minister Mao Chi-kuo have indicated that they wish to keep Yeh and that his resignation may be refused.

http://www.thsrc.com.tw

More detailed briefing on the politics and risk of doing business in this country is available to clients and subscribers. If you would like to know more then please contact enquiries@tradebridgeconsultants.com