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Taiwan: The World's Maker
TAIWAN CHARTS A PATH TO GLOBAL GROWTH. A mix of enterprising innovation and international trade is helping Taiwan cement its place in the global economy. Taiwan’s economy sits in a sweet spot as an innovation think-tank manufacturer and materials supplier to foreign corporations, including many renowned global brands. Many mobile devices, LED televisions and laptop widely used by consumers carry the hallmark of Taiwan ingenuity. If not conceived or produced in Taiwan, many of their parts are. The nature of this economic niche means exports drive the bulk of Taiwan’s growth. Last August, the statistics bureau upgraded the forecast for 2017’s gross domestic product—previously projected at 2.05 percent in May—to 2.11 percent, attributing this increase to a strong exports performance.
EXPANDING INTERNATIONAL TRADE
Taiwan’s recent economic fortunes can be traced to its longstanding openness toward international trade, whose role has been integral to the island’s export-driven economy. From this foundation, Taiwan continues to solidify existing trade relationships and forge new pacts that benefit its private enterprises and economy in an increasingly globalized world. The New Southbound Policy, a mandate to bolster trade with 18 countries in Southeast Asia, South Asia and the ANZ region, illustrates the government’s recent push to diversify and strengthen the country’s position as an open Asia-Pacific trading partner. Launched in September 2016, the initiative has injected new optimism into Taiwan’s trade ambitions in the Southbound region, where free-trade agreements were signed with New Zealand and Singapore in 2013. In the period from January through April 2017, Taiwanese exports to target countries climbed 13.6 percent. Southeast Asia fared even better, with exports to countries in this region rising 17 percent. The jump indicates growing demand for made-in-Taiwan products, and explains why more Taiwanese companies are investing in these destinations.
Taiwanese official and visiting students wowed by Manila's urban centers
WHEN Taiwanese Consul Steve C. C. Hsia saw Makati City for the first time, he was amazed with the number of skyscrapers that line up its business district’s horizon. “We [from Taiwan] know Manila is a very advance city, but we didn’t expect that there are so many high-rise buildings,” he told the BusinessMirror during an exclusive interview.
“Yeah, I’m surprised. Back home, we only have Taipei 101 [which has 101 floors], and a new one coming up with 70. Most of our buildings are 30 or 40 [stories high]. But you have a very beautiful skyline,” added Hsia, who accompanied a group of Taiwanese students touring Southeast Asia on a weeklong visit in the country. The said young adults comprised the 2018 International Taiwan Youth Ambassadors—outstanding students from various Taiwanese universities who undertook a rigorous exam to qualify for the aggrupation. They were given a glimpse of what their “southern neighbors” look like and how their citizens interact, as well as a chance to see for themselves other societal aspects.
ASKED how the youthful and exuberant Taiwanese students reacted when they saw Manila for the first time, Consul Hsia brimmed with approval. “They like the malls,” he pronounced. “They bought many chips,” which he learned they bought as gifts for their friends and relatives back home. “The malls and shopping centers here are different,” as he gushed after finding out that they were very large and crammed with consumer goods, food items, and many things in between. “In Taiwan the shopping areas are spread out; here [they are] very concentrated. The malls in Greenbelt are triple the size our large shopping centers. I could just imagine the Mall of Asia would be much bigger.” “Greenbelt is just in front of our hotel, so I went out and bought dried mangoes while for the girls, they got chips. They told me the chips are ‘very good,’ and they purchased a lot to bring [home and] share with their friends.”
See you at IFEX Philippines 2018! 25 -27 May 2018, World Trade Center Metro Manila, Philippines
IFEX Philippines is the country’s biggest international trade exhibition on the Philippines’ and Asia's ethnic and specialty food, tropical fruits, vegetables, seafood, beverages, bakery and confectionery products, meat and poultry, as well as natural, organic, and healthy food products.
See you at Philippine Business Forum 2018 Taipei: Investment Opportunities in the Philippines-Taiwan Economic Corridor and the New BIA!
See you at the 67th Manila FAME International ! The Design & Lifestyle Event, 19-21 April 2018
The Design and Lifestyle Event, is the country's premier trade platform for exports and design. Manila FAME is one of the longest-running trade shows in the Asia-Pacific, featuring the latest Philippine-made creations from artisans and manufacturers and is the only trade event in the country approved by UFI, the Global Association of the Exhibition Industry.
Center for International Trade Expositions and Missions (CITEM)
Center for International Trade Expositions and Missions (CITEM) is the export promotion arm of the Philippine Department of Trade and Industry (DTI). Committed to developing, nurturing, and promoting globally-competitive small and medium enterprises (SMEs), exporters, designers, and manufacturers by implementing an Integrated Approach to Export Marketing in partnership with other government and private entities.
The Philippines BUILD BUILD BUILD Program: Golden Investment and Business Opportunities
In this Administration's 10-point Socioeconomic Agenda, the reduction of poverty from 21.6% in 2015 to 13%-15% by 2022 is boldly being envisioned.
Among the reforms that will drive this Agenda is the acceleration of infrastructure and the development of industries that will yield robust growth across the archipelago, create jobs and uplift the lives of Filipinos.
Infrastructure is among the top priorities of this Administration with public spending on infrastructure projects targeted to reach 8-9 trillion pesos from 2017-2022.
The Build Build Build Portal lists down high impact projects that are envisioned to increase the productive capacity of the economy, create jobs, increase incomes, and strengthen the investment climate leading to sustained inclusive growth. It is a real-time tool where projects are monitored and tracked – with relevant information made available to everyone.
Featured Economic Zone: Cagayan Economic Zone Authority Taiwan's Gateway to the Philippines and South East Asia Markets
The Cagayan Economic Zone Authority (CEZA) is a government owned and controlled corporation that was created by virtue of Republic Act 7922, otherwise known as the “Cagayan Special Economic Zone Act of 1995″. It was authored by Senator Juan Ponce Enrile, a native of Cagayan Province, and approved by then President Fidel V. Ramos. It has been tasked to manage and supervise the development of the Cagayan Special Economic Zone and Freeport (CSEZFP).
From 1997 up to the present, CEZA continues to initiate several projects to promote development in the CSEZFP. As an economic zone, it aims to develop the whole area into a self-sustaining industrial, commercial investment, financial and tourism-recreational center and, likewise, with suitable retirement / residential areas. As a Freeport, it operates as a separate customs territory similar to Hong Kong, Singapore, Lubuan in Malaysia and Hamburg in Germany. It is envisioned to be a major transshipment point for trade in the Asia-Pacific rim. In this light, it now opens itself to interesting business opportunities with attractive incentives and advantages for interested investors that would like to register in CEZA. These developments are all deemed toward attracting legitimate and productive local and foreign investments and, thus, creating employment opportunities in and around the Freeport.
The Cagayan Special Economic Zone and Freeport (Cagayan Freeport) is located at the northeastern tip of the Philippines surrounded by the waters of Balintang Channel, China Sea and the Pacific Ocean. It covers the entire Municipality of Sta. Ana and the Islands of Fuga, Barit, Mabbag in the Municipality of Aparri in the Province of Cagayan – with approximately 54,118.95 hectares of urban, suburban and agro-industrial lands for prime development.
It is strategically located between the Pacific Ocean and China Sea and enjoys proximity to lucrative overseas market such as Taiwan, HongKong, Japan, Korea, and the People’s Republic of China. It is in fact situated at the crossroads of international shipping routes between the West Coast of North America, Far East and Southeast Asia. The Cagayan Freeport operates as a separate customs territory similar to Hong Kong, Singapore, Lubuan in Malaysia and Hamburg in Germany.
The Cagayan Freeport is approximately a 45-minute flight from Kaoshiung Taiwan’s largest industrial and shipping center, and only a few minutes longer from Hong Kong.