Doing Business in Taiwan
EENI - Business School.
Subject (Course): International Trade and Business in Taiwan (Republic of China). Syllabus:
- Introduction to Taiwan (ROC Republic of China)
- Taiwanese Economy: one of the Four Asian Tigers
- Taiwanese strategic sectors
- Medicine and Health
- Business in Taipei
- Economic ties with China.
- Taiwan's International Trade
- Competitive advantages of Taiwan
- Hub in Asia-Pacific.
- Foreign Direct Investment (FDI) in Taiwan.
- Taiwanese companies and businesspeople
- HTC Corporation.
- ACER Group.
- Chang Yung-fa (I-Kuan Tao). Director of Evergreen
- Business Opportunities in…
- Access to the Taiwanese market
- Business Plan for Taiwan
Objectives of the subject “Doing Business in Taiwan (Republic of China)”:
- To analyse the Taiwanese economy and foreign trade
- To evaluate business opportunities in Taiwan
- To explore Taiwan's trade relations with the student's country
- To know Taiwan's Free Trade Agreements (FTAs)
- To examine the profile of Taiwanese companies
- To develop a business plan for the Taiwanese market
Subject Description- Doing Business in Taiwan (Republic of China).
Taiwan (the Republic of China).
- Taiwanese Population: 23 millions of people
- Capital: Taipei
- The official language is Mandarin Chinese
- Area: 36,200 square kilometres
- Taiwan is a Semi-Presidential Republic
- Taiwanese currency: the New Taiwan Dollar
Religion in Taiwan (Asia).
- Mahayana Buddhism (ZEN) and Taoism
has a strong presence in Taiwan and to a lesser extent Confucianism.
- Christianity (1 million)
Taiwan belongs to the Buddhist Civilisation
The Republic of China (Taiwan ROC) is one of the Four Asian Tigers, the strategic position at the heart of the Asia-Pacific region, converts Taiwan in a Global manufacturing centre.
Taiwan is one of the most dynamic economies in the World:
- 17th world's largest economy
- 14th largest exporter
- 16th largest importer
is the third biggest holder of foreign exchange reserves.
- Small and medium-sized companies (98% of all
Taiwanese companies) play a fundamental role in the Taiwanese economy.
- Taiwanese manufacturing sector represents 25 % of the gross domestic product.
- Top manufactured goods are IC chips, LCD panels, semiconductors, electronic components, mechanical and electrical
appliances, textiles, plastics, petrochemical products, electrical machinery, precision instruments, iron, and steel.
- The Republic of China (Taiwan ROC) has strong competitive advantages in the Information and Technology manufacturing industry. Taiwan is the second biggest Information Technology hardware manufacturing nation in the World.
- Enterprises from Taiwan are the main suppliers of computer monitors in the World and leaders in PC production
- Textile and apparel production is still a major export sector of Taiwan (200,000 workers).
- Taiwanese services sector represent 69 % of the gross domestic product.
- Top service activities in the Republic of China (Taiwan ROC) are wholesale and retail (19 % of the gross domestic product), property (real estate) and leasing, financial services and insurance, transport, and information and communications providers
- Taiwan is one of the “four tigers” of Asia, along with South Korea, Singapore, and Hong Kong
International Trade of Taiwan.
The Republic of China
has not natural resources and has a small local market, for this reason, Taiwanese economy is based on international trade (80 % of the gross national product).
- Taiwan is the fifteenth largest exporter in the World.
- Top export products of Taiwan: electrical machinery, mechanical appliances, plastics, textiles, and iron
- Top export markets of Taiwan: the United States, Hong Kong, and Japan (53.3
% of the total exports)
- Taiwan is the 16th biggest importer.
Economic relations with China.
On June 29, 2010, Taiwan and mainland China signed the Framework Agreement on Economic Cooperation to strengthen bilateral trade and economy and to reduce political risks between Taiwan and mainland China. Taiwan official statistics indicate that Taiwan firms had invested 84,400 million dollars in China (more than 50% of the stock of FDI).
Foreign direct investment (FDI) in Taiwan.
Taiwan offers some advantages to multinational firms and investors over other countries in Asia. Taiwan's economy has gone from labour-intensive to being knowledge-based and capital-intensive, so the country has a variety of new opportunities for foreign direct investment (FDI) in Taiwan. In fact, some key high-tech industries in the World are in Taiwan.
There are significant business opportunities:
- Precision Machinery and Instrumentation
- Computers and communication equipment
- Electrical products
- Aviation and automotive
- Biomedical and pharmaceutical products
Taiwan's Free Trade Agreements (FTA) (Republic of China).
- Taiwan is a member of the Asia-Pacific Economic Cooperation (APEC)
- Taiwan has signed Free Trade Agreements (FTA) with Panama, Guatemala, Honduras-El Salvador, and Nicaragua
- The China-Taiwan Economic Cooperation Framework Agreement
Taiwan is a member of:
- Asian Development Bank
- World Trade Organisation (WTO)
- United Nations (UN)
- Pacific Economic Cooperation Council
Agreement Panama Taiwan: