Amidst the challenges posed by a declining birth rate, the National Development Council (NDC) forecasts a labor shortage of approximately 480,000 in Taiwan by 2030. To address this issue, the Legislative Yuan's Economic Committee reviewed the amendment draft of the "Act for the Recruitment and Employment of Foreign Professionals" on the 18th.

Surveys indicate that about 70% of foreign graduates wish to stay in Taiwan, but due to various restrictions, it is anticipated that only half of them will remain. NDC chair Liu Ching-ching expressed hopes to ease these restrictions through legal amendments, setting a goal to facilitate foreign students' retention in Taiwan next year.

Currently, companies must have a capital of NT$5 million and annual revenue of NT$10 million to hire foreign graduates, which presents a significant barrier for many startups and service sector companies. The amendment emphasizes improving job-seeking regulations for foreign graduates.

If foreign nationals hold an associate degree or higher, they can obtain an extension of residence permit as fresh graduates without needing to apply for a work permit, and this can offset one to two years for permanent residency applications as well. This is expected to increase the willingness of foreign students to stay in Taiwan.

According to Liu Ching-ching, the NDC estimates a shortage of about 120,000 white-collar, 180,000 blue-collar, and 180,000 gray-collar workers by 2030. With the current unemployment rate at 3.3%, Liu asserts that bringing in foreign talent will not displace local workers, as it is a concept of mutual complementarity.

Additionally, TSMC announced a US$165 billion investment in the U.S., and legislator Wan Mei-ling emphasized the need for Taiwan to prevent talent leakage while attracting foreign professionals. It was highlighted that TSMC has dispatched over 500 engineers to its first plant in Arizona and plans to expand to six additional plants, which may result in a total of 3,000 engineers sent abroad. However, Liu Ching-ching believes the number isn't expected to reach that high, as expatriated engineers mainly train each other rather than expanding in equal proportions.