|
(1) The Development Fund was established by the government in accordance with Article 84 of the “Statute for the Encouragement of Investment” with special budgets in 1973 by the Executive Yuan. The Fund comprised the income of privatized former state-owned enterprises and the appropriation from the state treasury for the purpose to support investment and financing businesses.
(2) After 1990, in order to continuously strengthen the implementation of industrial development policies, encourage the establishment or expansion of new and important strategic industries that are crucial, risky and in need of public support, the government enacted the “Statute for Upgrading Industries” as the action agenda for upgrading industries and boosting economic development. The new Statute expand the policy mandate of the Development Fund to provide better financial support for domestic industrial innovation, research and development, and technology upgrading.
(3) In accordance with Article 16 of the “Directions for Special Fund Management of Central Government”, the Executive Yuan established the National Development Fund (NDF) by merging the Development Fund and the Sino-American Fund for Economic and Social Development (SAF) in 2006. In view of since the Development Fund’s long-term investment in important enterprises and plans to promote industrial upgrading and improve industrial structure, and to cooperate with financial institutions to handle a number of policy loans, the Statute for Industrial Innovation was formulated in 2010, in which the legal source and purposes of the NDF was specified in the Article 29.
|