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2019 business climate survey final

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AmCham Taipei released the 2019 Taiwan Business Climate Survey results at a press conference at the AmCham Taipei Lincoln Room on January 23. ➤ Download the complete survey: http://bit.ly/2GSS6SY

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2019 business climate survey final

  1. 1. 2019 TAIWAN BUSINESS CLIMATE SURVEY Leo Seewald Chairman American Chamber of Commerce in Taipei January 23, 2019 1
  2. 2. 500+ member companies 2 tens of thousands of jobs $ billions of investments
  3. 3. How confident are you about Taiwan’s economic growth over the next 12 months? 2019 46% either somewhat or very confident 2018 56% either somewhat or very confident 10 percentage point drop from previous year
  4. 4. The impact of geopolitical factors on this year’s business climate in Taiwan. 4 Current U.S.-China trade dispute U.S. “American First” trade policy Pressure from China over Taiwan 81% large to some extent 73% large to some extent 79% large to some extent
  5. 5. The impact of information security concerns on this year’s business climate. 5 Cyber security threats Intellectual property rights infringements 77% large to some extent 68% large to some extent
  6. 6. How confident are you about Taiwan’s economic growth over the next 3 years? 2019 54% either somewhat or very confident 2018 50% either somewhat or very confident slightly higher than previous year
  7. 7. How confident are you about your company’s prospects for revenue growth? Over next 12 months 80% either somewhat or very confident Over next 3 years 80% either somewhat or very confident Taiwan continues to be a positive environment for multinationals
  8. 8. Opportunities to grow 8
  9. 9. Main business growth opportunity for your company in Taiwan over the next 12 months 9 Products or service innovation 43% Existing market expansion 36%
  10. 10. Product/service innovation More than a third of companies plan to increase the number of fulltime equivalent employees this year 10 nearly 35% Plan to increase 54% Largely unchanged
  11. 11. Product/service innovation Overall, companies are still satisfied with their ability to recruit enough – and sufficiently capable – personnel 11 2019 59% Expressed satisfaction 2018 62% Expressed satisfaction
  12. 12. Product/service innovation Survey-takers continue to show enthusiasm about the quality of Taiwan’s human capital • Execution of assigned tasks • Trustworthiness • Openness to training • Industriousness • Business ethics Top 5 • Creativity/ability to innovate • Ability/willingness to take initiative • Communication skills • English ability • International mindset Bottom 5 Out of 18 characteristics 12
  13. 13. Key Areas of Concern Regulatory Framework, Energy, Labor Policies 13
  14. 14. Regulatory framework: further reforms are needed to meet the needs of a knowledge-based economy. 法規制定:需要進一步改革以滿足知識型經濟的需求。 14
  15. 15. Product/service innovation Are you satisfied with top policymakers’ attention to the needs of businesses in setting relevant policies? 15 nearly 37% Somewhat satisfied nearly 50% Not satisfied
  16. 16. Product/service innovation To what extent do you consider government policies will benefit Taiwan’s economic development? 16 5+2 Innovative Industries Plan nearly 64%Large or some extent nearly 60%Large or some extent Forward-looking Infrastructure Development Plan nearly 45%Large or some extent New Southbound Policy Many companies see value in the government’s signature programs
  17. 17. Product/service innovation Modest improvement in satisfaction of Taiwan’s regulatory environment 2019 2018 New regulations meet economic needs 41% say no 53% say no Rulemaking follows international best practices 44 % say no 54% say no The government gives public comments serious attention and response 41% say no 51% say no Laws and regulations are interpreted consistently 46% say no 52% say no
  18. 18. Quarterly meetings with National Development Council to achieve progress on White Paper issues have been productive. 18 over 70% Very or somewhat effective
  19. 19. Energy: sufficiency of future power supply. 能源政策:在未來保證有足夠的電力供應 19
  20. 20. 20 Companies need greater assurance of the adequacy of future power supplies. 73% Extremely or somewhat concerned Voltage stability 87%Extremely or somewhat concerned 70% Extremely or somewhat concerned Electricity Cost Energy
  21. 21. 21 63% say will impact their decision to expand. The goal of making Taiwan nuclear free by 2025 will impact their company’s decisions to expand.
  22. 22. Labor policies: more flexibility needed 勞動政策:需要更有彈性勞動法規 22
  23. 23. 23 About half of respondents disagreed that current regulations provide sufficient flexibility to meet their company’s needs. 45% disagreed More than half of respondents said labor issues are likely to be a key factor in their companies’ decision on future business expansion. 55% agreed
  24. 24. Why Taiwan? 24
  25. 25. Why Taiwan is seen as an excellent place to live and work 25 1 2 3 4 5 Personal safety Social stability Healthcare system Mass transportation Friendliness toward foreigners Top 5 Reasons:
  26. 26. Why Taiwan is seen as an excellent place to live and work 26 1 2 3 4 5 Areas in need of further improvement: Air quality Education system Diversity & inclusiveness Environmental sanitation Infrastructure
  27. 27. Methodology  We thank the staff at PwC for their support and professionalism in conducting the 2019 Business Climate Survey.  The survey was conducted from November 12 to December 21, 2018.  Based on input from 179 voting members of the Chamber – mainly country heads – for a gratifying response rate of 45.7%. 27
  28. 28. THANK YOU Download Full Report Follow Us On or visit us www.amcham.com.tw Facebook: amchamtaipei Twitter: amchamtaipei 28

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