The latest ROC Ministry of Economic Affairs-organized investment forum kicked off July 23 in Taipei City, highlighting the potential of Taiwan’s biotech, pharmaceutical, retail and wholesale sectors.
“Now is an ideal time to invest in Taiwan, especially given Taipei and Beijing’s Cross-Straits Economic Cooperation Framework Agreement [ECFA], investment protection agreement and trade in services pact,” said Chiu Yi-cheh, director-general of the MOEA Department of Investment Services.
The forum, which attracted more than 100 overseas-based ROC businesspeople, representatives of investment firms and foreign businesses, is part of a series of MOEA-staged events drumming up investor interest in Taiwan. Since 2011, the DOIS has conducted six such investment forums showcasing Taiwan’s most promising industries.
According to Chiu, Taiwan’s convenient location, integrated industrial clusters, talented labor force, sound regulatory system, strong intellectual property rights regime, and shared linguistic and cultural roots make it the ideal location for accessing the mainland Chinese and Asia-Pacific markets.
Last year, Taiwan’s biotech industry generated NT$255 billion (US$8.61 billion) in earnings, Chiu said. For medical equipment, pharmaceuticals and applied biotechnology—the nation’s fast-growing, emerging industries, this represents growth of 7 percent, 5 percent and 6 percent, respectively.
Wholesale and retail businesses in Taiwan are also expanding apace, Chiu said, adding that the country has the world’s highest density of convenience stores and department stores. “The comprehensive experience of Taiwan marketers in these sectors makes them the best partners for foreign businesses eyeing the mainland Chinese market.”
Chiu said Taiwan’s investment environment is also highly rated.
“U.S.-based Business Environment Risk Intelligence ranked Taiwan the world’s third best place to invest after Singapore and Switzerland in its Business Risk Report released in April,” he said. “And in the latest annual World Competitiveness Yearbook published by International Institute for Management Development, Taiwan was No. 11 among 60 countries and third in Asia behind Hong Kong and Singapore.” (JD)
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