Taipei: The government will subsidize infrastructure improvements in shopping districts around Taiwan to try to boost the domestic economy at a time when consumers are cutting back on going out and shopping amid the novel coronavirus outbreak.
The Ministry of Economic Affairs (MOEA) said Monday it is allocating NT$100 million (US$3.31 million) for the plan, which it hopes will get people to spend more in these districts by upgrading the customer experience.
The fund will be used to renovate toilets, road signs and sewage treatment facilities during the slowdown caused by the virus to provide a better environment for visitors in some 20 shopping areas around Taiwan, an MOEA official told CNA.
Each shopping district will be eligible to apply for a subsidy of between NT$4 million and NT$5 million, the official said.
The subsidy program is part of the Executive Yuan's NT$60 billion special budget plan to mitigate the impact of the COVID 19 coronavirus outbreak.
Of that plan, NT$40.4 billion will go to support of sectors in the domestic economy hard hit by the coronavirus.
The restaurant/beverage, retail sales and trade fair sectors, as well as shopping districts, traditional markets and night markets, will be the first areas targeted by the one year package, according to Premier Su Tseng chang (???).
The NT$60 billion special budget plan needs to be approved by the Legislative Yuan, potentially on March 13
Source: Focus Taiwan News Channel