TAIPEI (Taiwan News) -- Taiwan President Tsai Ing-wen (蔡英文) announced today (Aug. 1) that Taiwan pulled ahead of the rest of the pack of Asia's four tigers in the second quarter thanks in part to total investment by Taiwanese businesses returning from China exceeding NT$500 billion (US$16 billion) so far this year, doubling the original goal for 2019.
On her Facebook page this morning, Tsai wrote: "Taiwan's economic performance is good, everyone continues to fight together." Taiwan's economic growth rate reached 2.41 percent in the second quarter, surpassing rivals South Korea (2.1 percent), Hong Kong (0.6 percent), and Singapore (0.1 percent), according to the Directorate General of Budget, Accounting, and Statistics (DGBAS).
Tsai said the good results were not accidental but are due to three years of patience in adjusting the economic quality of Taiwan. "Starting last year, in response to the trade war between the U.S. and China, we have helped enterprises invest in Taiwan and distribute globally. Now the achievements have started to pour in," wrote Tsai.
Read more: Taiwan News
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The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan