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Taiwanese consulate

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Information on doing business in Taiwan, presented at the International Trade Fair held on 12/7/12

Information on doing business in Taiwan, presented at the International Trade Fair held on 12/7/12

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  • Taiwan has 280 mountains higher than 3000 meters.
  • Mandarin is the official language of Taiwan
  • Taiwan, with only 23 million people, can’t compare in size. Yet for investors and businesspeople, it’s not to be overlooked. Overall, it’s much freer than mainland China economically, and has a lot longer experience welcoming foreign investors in its stock markets. The one-time “clone kingdom” has today close ties to technology global titans such as HP and Dell, among others, which this year are in the throes of launching more-convenient-than-ever new mobile products. Taiwan is home to a swath of the companies listed by Apple as its suppliers for 2011Besides its IT industry success, Taiwan stands out for its close economic ties to relatively fast-growing mainland China. Many of its technology companies churn out goods for their customers from factories there. Yet many Taiwan companies in addition are producing items for the China market, such food and beverage giants Want Want China and Tingyi. And as a group, they are also emerging as a new force in mainland retailing. Many owners of the largest businesses in all of those fields appeared on our 2012 Forbes Taiwan Rich List last month.
  • Taiwan has a strong foreign exchange reserve compare with other country, and reserve to GDP is 70%,which is higher than most of the countries even higher than China. Despite EU, Taiwan ranks No.6 on Foreign Exchange Reserve Holding in the world Foreign exchange reserves, often taken as a yardstick to gauge a country's financial strength, are the foreign currency deposits and bonds held by central banks or monetary authorities (it is the Reserve Bank in the case of India). Foreign reserves include a country's gold holdings and convertible foreign currencies held in its banks, including special drawing rights and exchange reserve balances, with the International Monetary Fund. The quantity of foreign exchange reserves can change as and when a country's central bank implements the monetary policy. Large reserves of foreign currency allow a government to manipulate exchange rates -- to stabilize the foreign exchange rates to create a favorable economic environment.
  • Our unemployment rate has decrease 1.2% compare with 2010, which our government is still working on it. Compare to the U.S., the unemployment rate is much lower.
  • Taiwan is very depends on the international trade.
  • Taiwan has become one of the top market for US products and services. In terms of the market size, Taiwan is larger than Australia, Chile and Singapore put together. These 3 countries already signed FTAs with the US.
  • A stable democracy, thriving market economy, and unique geographic position make Taiwan a highly attractive investment market, especially for U.S. companies. In fact, the United States is one of the top three investors in Taiwan. In 2010, U.S. foreign direct investment (FDI) in Taiwan was $21 billion, an increase of 7.6% from 2009. See chart below for cumulative data on Taiwanese FDI into the U.S. since 1969. Sales of services in Taiwan by majority U.S.-owned affiliates were $10.7 billion in 2008, while sales of services in the United States by majority Taiwanese-owned firms were $2.2 billion. Top sectors for U.S. investment in Taiwan include finance and insurance, manufacturing and banking. Top sectors for Taiwan investment in the U.S. include financial services and insurance, electronic manufacturing, and information and communication.
  • Small and medium business

Taiwanese consulate Taiwanese consulate Presentation Transcript

  • MOEA Taiwan- Your Ideal Partner in Asia December 7, 2012 Commercial Division, Taipei Economic and Cultural Office in Chicago
  • MOEA Taiwan Overview
  • MOEA Taiwan- Formosa Area: 36,000 sq. km Population: 23 million Language: Mandarin/ Taiwanese/ Hakka/ Indigenous languages Capital: Taipei
  • MOEA Taiwan Top 20 Global Brand Source: Interbrand
  • MOEA Overview of the Economy
  • MOEA Taiwan’s Economic Profile – Item 2010 2011 Foreign Exchange Reserve US$382 billion US$386 billion GDP US$465 billion US$495 billion GDP Per Capita US$19,046 US$20,246 GDP real growth rate 10.5% 4.51% Export US$275 billion US$308 billion Import US$251 billion US$282 billionSource: Directorate General of Budget Accounting and Statistics, Executive Yuan
  • MOEA Strong Economic Growth in Asia GDP Growth Rate 2007-2011 (%) 2011 GDP 2007 2008 2009 2010 2011 ($USD Billion)USA 1.91 -0.33 -3.07 2.39 1.8 15,075.675EU 3.43 0.56 -4.21 2.05 1.59 17,610.826Japan 2.19 -1.04 -5.52 4.53 -0.75 5,866.540China 14.16 9.63 9.21 10.45 9.24 7,298.147India 9.99 6.9 5.9 10.1 6.84 1,826.811South Korea 5.1 2.29 0.32 6.32 3.63 1,116.247Taiwan 5.98 0.73 -1.81 10.72 4.02 466.424Singapore 8.86 1.7 -0.98 14.76 4.89 259.846Source: IMF
  • MOEASolid Foreign Exchange Reserve Holding Foreign Exchange 2011 GDP Reserves to Reserves ($USD Billion) GDP (%) ($USD Billion) USA 15,075.675 151.436 (11/2012) 1 EU 17,610.826 903.02 (08/2012) 5.1 Japan 5,866.540 1,274.160 (10/2012) 21.7 China 7,298.147 3,285.09 (09/2012) 45 Russia 1,894.473 526.766 (10/2012) 27.8 Taiwan 466.424 399.220 (10/2012) 85.5 India 1,826.811 295.290 (10/2012) 16.1 Source: IMF & StockQ.org
  • MOEA Low Unemployment in Asia 2010 Unemployment 2011 Unemployment Rate Rate Japan 5% 4.6% China 4.1% 4.1% South 3.7% 3.4% Korea Taiwan 5.2%% 4.4% Hong 4.3% 3.4% Kong Singapore 2.2% 2% Source: IMF
  • MOEAEast Asia’s Free Trade Agreement
  • MOEA US-Taiwan Economic Relations
  • MOEA U.S.-Taiwan Economic Relations, 2011 A STRONG ECONOMIC PARTNERSHIP Taiwan… U.S.…  2nd Largest per  3rd largest trading capita importer of partner for Taiwan U.S. farm products (7th largest overall)  largest export 3rd market for Taiwan  12th largest U.S. trading partner  Taiwan’s largest FDI source (1952-  15th largest U.S. export market 2011 cumulative)
  • MOEA Taiwanese FDI into the U.S.
  • MOEA Top sectors for Taiwan Investment in the U.S.
  • MOEAThe U.S.-No. 3 Trading Partner of Taiwan 2012 Taiwan’s top five import & export partners Rank Country Value of import % in Country Value of export % in (million USD) total (million USD) total 1 Japan 27,875.610 17.61 China 45,361.925 26.72 2 China 23,761.346 15.01 Hong Kong 20,729.500 12.21 3 USA. 14,065.980 8.88 The U.S. 18,691.654 11.01 4 South Korea 8,969.706 5.66 Singapore 10,877.450 6.40 5 Kingdom of 8,561.280 5.41 Japan 10,293.923 6.06 Saudi Arabia USD:TWD= 1:30; Source: Directorate General of Customs in Taiwan
  • MOEA Taiwan : the Gateway to Asia World Economy turns to emerging East Asia markets, including China Taiwan is the gateway to unprecedented Asia opportunities for Illinois Trading Agreement ECFA signed in 2010, has empowered Taiwan to further connect business to the potential market
  • MOEA Why Taiwan? Taiwan is one of U.S. strongest allies and also share common values with the U.S. - robust and mature democracy, human right and free market principles. Taiwan enjoys American quality product and we have strong sentiments of Buy American Products. Taiwan has strong manufacturing and Technology base Better experience in manufacturing and R&D Following international rules and IP Protection Best regional location for accessing China and Southeast Asia markets 17
  • MOEA Taiwan Thomas Friedman’s favorite country Saturday March 10, 2012 Pass the Books. Hold the Oil. By Thomas L. Friedman “Taiwan is a barren rock in a typhoon- laden sea with no natural resources to live off of, yet it has the 4th largest financial reserves in the world” “Rather than digging in the ground and mining whatever comes up, Taiwan has mined its 23m people, their talent, energy and intelligence” Taiwan “Taiwan is lucky because it developed the habits and culture of honoring the people’s skills, which turns out to be the most valuable and only truly renewable resource in the world today.”
  • MOEA Why Taiwan Matters: Small Island, Global Powerhouse
  • MOEA 2011 The U.S. Export to Taiwan of Total Merchandise Computer and 8,732.90, 32% 6,643.50, 25% electronic produtcs Machinery except electrical Chemicals Agricultural 4,985.97, 19% products 2,440.27, 9% 4,086.02, 15% All others
  • MOEA 2011 The U.S. Import from Taiwan of Total Merchandise Computer and 12,358.71, 30% electronic produtcs Fabricated metal prodcuts 19,602.86, 48% Transportation equipment 2,567.10, 6% Machinery 3,093.57, 7% 3,782.51, 9% All others
  • MOEA 2011 Total Merchandise Export from Illinois to Taiwan 65.75, 5% 94.68, 8% Computer and electronic 288.40, 23% 67.51, 5% produtcs Chemicals Waste and scrap Agricultural products All others 738.12, 59%
  • MOEA Taiwan’s Industrial Development Strategy •Medicine & Health Care •Biotechnology 1. WiMAX •High-end Agriculture 2. International Medicine •Tourism 3. High-tech & Innovative •Culture & Creation Industries •Green Energy 4. Music & Digital Content 5. MICE industry 6. International Logistics 7. Urban Renewal •Cloud Computing 8. Globalization of •Intelligent electric vehicles Taiwanese gourmet •Intelligent eco-friendly 9. Chinese language e- Architecture commerce •Patent Commercialization 10. Expansion of foreign student recruitment
  • For information or assistance, please contactyour local support at Commercial Division,Taipei Economic & Cultural Office in Chicago:Website: www.roc-taiwan.org/US/CHI/Email: commerce@dpliv.comTel: (312) 616-0120Fax: (312) 616-1498Address: Two Prudential Plaza, Suite 5802, 180 N Stetson Ave, Chicago, IL 60601