TAIWAN will let insurers invest in infrastructure projects and create a NT$1 billion (US$33 million) fund to channel money to companies as the island bids to boost growth.

Taiwan also plans to revise capital-gains tax rules, give cash incentives to trade in old cars for new ones, simplify visa procedures for Chinese mainland visitors and set aside NT$400 million to subsidize energy-saving home appliances including gas stoves and heaters, authorities said yesterday. The island's statistics bureau last week cut its forecast for gross domestic product growth this year to 2.4 percent from 3.59 percent.