InfoBrief Taiwan, 12.02.2018


Upcoming GTO Events

17th Germany – Taiwan Joint Business Council

Date: March 8th, 2018
Venue: Taipei


GTO News

Register now to join our German business delegation for the 17th Germany-Taiwan Business Council in Taipei (17. Sitzung des Taiwan-Ausschuss der deutschen Wirtschaft)

The Bundesverband Großhandel, Außenhandel, Dienstleistungen (BGA), in cooperation with the Chinese International Economic Cooperation Association (CIECA) and the German Trade Office Taipei, is organizing a delegation visit for German energy technology and machinery companies to Taiwan. Within the scope of the delegation visit, the 17th Germany-Taiwan Business council will take place on March 8th, featuring presentations and panel discussions on energy efficiency and electromobilty in Germany and Taiwan.

Interested German companies can now apply to join the delegation and get their own customised meetings with political decision makers and Taiwanese business partners (limited speaker slots at the Joint Business Council are also available).

More information in German can be found on our website or by downloading our flyer (pdf document, in German).

Job Alert: Manager Market Entry

The service unit of the German Trade Office Taipei, DEinternational Taiwan Ltd., is looking for a Manager Market Entry – Advisory. Tasks will include market entry consultation for German and Taiwanese Businesses, answering legal inquiries, observing Taiwanese core sectors and industries, composing articles for our media platforms and professional publications, and preparation of presentations for the management. Applicants should be native in German, fluent in English and have some knowledge of Chinese, as well as experience in sales, customs regulations and export business assistance. Please send us your complete application documents in German stating your earliest possible starting date and your expected salary by 15th February 2018. More information here.

Panel on German agriculture and food industry exports to Taiwan

The Chamber of Industry and Commerce in Hanover (IHK Hannover) will host a “Panel on the Promotion of Exports of the German Agriculture and Food Industries to India, Malaysia and Taiwan” on 27th February 2018 in Hanover. The panel is both relevant for German exporters as well as Taiwanese importers of German products. GTO Taipei Executive Director Axel Limberg, as well as Wei-Chih Cheng, Senior Technical Specialist at the Taiwan Food and Drug Administration (FDA) and Cosmo Tu, CEO of Z-mole Waydesign Co. will attend the forum and will present various aspects of the Taiwanese food import market. (IHK Hannover).

Chinese New Year Holidays 2018

The German Trade Office Taipei and DEinternational Taiwan Ltd. will be on holidays and out of office from February 15th to 20th. We will be back on Wednesday, February 21st. The next edition of InfoBrief Taiwan will be published on February 26th. We wish all our friends, colleagues and business partners nice and relaxed holidays and a Happy New Year!


DEinternational Taiwan Ltd. – Weekly Service introduction

Work Permit Application Support

You want to send personnel to Taiwan for a period of time? DEinternational offers support throughout the whole work permit application process. We provide you with a checklist of the required documents, help you to fill in the forms in Chinese and submit the documents to the competent authority. We make sure you and your employees have a smooth arrival and a successful stay. More here.


Economic News

Taiwan Appoints Yang Chin-long as New Central Bank Governor

Former Taiwan Central Bank deputy governor Yang Chin-long will take over the role of central bank governor from his predecessor Perng Fai-nan. The move is a signal for continuity and stability for monetary policy in Taiwan, as Yang can draw form a lot of experience and good relations to central banks worldwide, including the US. Experts expect monetary policy in 2018 to play a minor role in Taiwan, as a loose fiscal policy stance, including tax breaks and government-backed infrastructure programs, will be the dominant expansionary policy measure. Taiwan’s benchmark interest rate has been kept unchanged at 1.375% since June 2016. (Bloomberg, 01.02.2018)

Value of Taiwan's smart technology industry surpassed NTD 1,100bn in 2017

According to Taiwan’s Premier Lai Ching-te, the value of Taiwan’s output in smart technology and related machinery exceeded NTD 1.1tn (USD 37bn) in 2017, which is an increase of 11.1% from the previous year. Innovation in smart technology is one key area of the government’s “Five plus Two Targeted Innovation Policy”. According to Ministry of Economic Affairs there was a total of NTD 538bn (USD 18bn) in investments in Taiwan’s smart technology sector, which was able to create 6,367 jobs, raising the total number of people in Taiwan employed in the smart technology sector to 308,000. (Taiwan News, 01.02.2018)


Environment and Green Technologies

Taiwan’s largest ground-mounted solar power plant begins construction

Taipower held a groundbreaking ceremony for a new solar power plant at the Changhua Coastal Industrial Park on February 5th, which will be Taiwan’s largest ground-mounted solar system and the world’s 54th-largest solar plant. The facility, with an installed capacity of 100 megawatts, would be capable of generating 130 million kilowatt-hours of electricity per year, supplying power to more than 30,000 households. Batteries and equipment at the site would all be made by Taiwanese companies which will make the plant a benchmark power project for the nation. (Taipei Times, 09.02.2018)

Proposal to standardize Gogoro’s swappable battery technology

The Ministry of Economic Affairs’ Industrial Development Bureau is currently considering using Gogoro Inc’s battery specification as a universal standard for electric scooters with swappable batteries. There are currently 500 battery-swapping stations nationwide which have handled 9 million battery swaps to date. A standardization would make expansion, also to other markets in Asia, more achievable. However, competing manufacturers vehemently criticized the idea, as the technology behind the batteries, battery-swapping stations and battery control units would all rest in the hands of a single manufacturer, which would be too great an operational risk. (Taipei Times, transl. of Liberty Times, 06.02.2018)

Taipower seeking to restart nuclear power reactor

Taiwan Power Co is planning restart the second reactor at the Guosheng Nuclear Power Plant in New Taipei City, which could boost Taipower’s operating power reserve margin by 3%. In order to fight air pollution and cut carbon emissions, Taipower had famously cut coal consumption at the Taichung Power Plant by 20%, while other factories also decreased output. In total, requests for lower carbon emissions are expected to reduce the nation’s power supply by 6.1 billion kilowatt-hours, Taipower said. According to the Executive Yuan, the decision to restart the reactor will in no way modify the “nuclear-free homeland policy”, demanding that all nuclear power plants be decommissioned by 2025. (Taipei Times, 06.02.2018)




Companies and Industries

Foxconn to invest USD 342m in artificial intelligence

Taiwan’s Hon Hai Precision Industry Co., also commonly known as Foxconn, is planning to invest around USD 342m in artificial intelligence over the next five years, following the opening of a new AI development lab. The investment will to a large degree flow into the development of internet applications for medical care in Taiwan and the US, which underscores the company’s current efforts to tap into new business fields beyond contract manufacturing. In the initial stage of the investment project, Foxconn is planning to hire around 100 AI specialists to work at the newly founded lab. (Focus Taiwan, 02.02.2018)

Gogolook invests millions in developing AI and IoT technology

Taiwan’s Gogolook, developer of caller identification app Whoscall, has announced that it has invested NTD 345m (USD 11.7m) into the development of artificial intelligence (AI) and Internet of Things (IoT) technology. Over the past five years the app has exceeded 60 million users worldwide since the service was launched. By analyzing data and simulating the behavior of potential or confirmed telecom fraud rings operating throughout the world, the team strives to help create a "zero-fraud environment" for the public. (Taiwan News, 06.02.2018)

Other News

Job-seeking visas for foreign nationals to Taiwan

Taiwan’s Ministry of Foreign Affairs began issuing “job-seeking visas” for foreign nationals as part of an initiative to attract skilled professionals on February 8th. The visa, which is valid for three months and can be extended to six months, will allow qualified foreign professionals to come to Taiwan to find work. For now, there will be an annual quota for such visas of 2000 per year until the government will be able to review the policy’s effects. (Taipei Times, 09.02.2018)

Taiwan expects 10.96 million international visitors in 2018

Minister of Transportation and Communication Hochen Tan stated at a recent press conference that Taiwan expects to hit a target of 10.86 million international visitors in 2018, which would equal a 9% growth from last year. Despite the drastic reduction in tourists coming from China over the past year since President Tsai assumed office, Taiwan successfully surpassed the 10 millionth international visitor mark in December of last year, with more than 2 million travelers from partner nations targeted by Taiwan’s Southbound Policy. (Taiwan News, 01.02.2018)

Taiwan ranked 13th globally in economic freedom

Taiwan was listed 13th in the 2018 global rankings for economic freedom by the U.S. Heritage Foundation, which was released on Friday, February 2nd. A drop of 5 points in investment freedom and a rise of 7.1 points in fiscal health canceled each other out to give Taiwan an overall economic freedom score of 76.6, which is 0.1 points higher than its 2017 score. Taiwan ranked 5th among the 43 countries in the Asia Pacific, with an overall score that is above the regional average of 61.0 and the global average of 61.1. (Taiwan News, 02.02.2018)

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Did you know?

Taiwan’s amount of exported electric bicycles in 2016 was 132,000.

Germany’s amount of exported electric bicycles in 2016 was 240,000.





Glossary

DGBAS

Directorate General of Budget, Accounting and Statistics

ECFA

Economic Cooperation Framework Agreement

ITRI

Industrial Technology Research Institute

MOEA

Ministry of Economic Affairs

MOF

Ministry of Finance

MOFA

Ministry of Foreign Affairs

MOI

Ministry of the Interior

MOST

Ministry of Science and Technology

TAITRA

Taiwan External Trade Development Council

TSMC

Taiwan Semiconductor Manufacturing Company


Note: All figures are in US Dollar and originate from the newspaper articles or have been converted according to the current exchange rate.





David Yuan
Assistant Manager Media & Communications 
Tel.: +886-2-8758-5805
yuan.david(at)taiwan.ahk.de

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