The ASEAN Top 1000 Taiwanese Investors Forum
The Ministry of Economic Affairs and Wealth Magazine co-hosted the Forum at the NTUH International Conference Center on March 15, 2019, inviting experts to share their views on business opportunities in the ASEAN market. The Forum concluded successfully with more than 250 participants having attended the event.
A modern BIA would not only effectively protect our enterprises' investment, but also offer a better environment to facilitate Taiwanese investments in ASEAN, Minister of Economic Affairs, Mr. Jong-Chin Shen, stated in his opening remarks. Furthermore, he indicated that as a result of the trade friction between the US and China, many Taiwanese enterprises that have investments in China have expressed intention to shift their manufacturing bases to ASEAN to cope with the situation. The Ministry of Economic Affairs, aware of their needs, has continued to actively promote a renewal to our Bilateral Investment Agreement (BIA) with New Southbound Policy countries. So far, Taiwan has renewed BIAs with the Philippines in 2017 and India in 2018.
At the Forum, China Credit Information Service Ltd. released the results of the ASEAN Top 1000 survey, which indicated that from 1959 to September 2018, Vietnam was the most popular investment destination out of ASEAN countries for Taiwan businesses. From 2016 to 2017, Vietnam, Malaysia and Singapore were the most popular countries for establishing new businesses, while the least popular countries were Macao, Brunei, the Philippines and Laos. Major Taiwanese investments were mainly in the garment industry and wholesale computer accessories and peripherals industry, followed by international trade, chemical manufacturing, and wholesale of electronic components. In 2017, Singapore was the most profitable area for Taiwanese enterprises.
China Credit Information Service Ltd. made six investment suggestions to Taiwanese enterprises drawing from results to the survey: Avoid making hasty business decisions, target the needs of international supply chains, emphasize market research to find sales channels, localize early, establish local e-commerce operations, and that IPOs (Initial Public Offering) are indispensable for up-scaling.