The Taiwan-ASEAN-India Investment Strategic Partnership Forum wrapped up Aug. 6 in Taipei City, at which over 300 officials and business representatives from home and abroad discussed opportunities in the three regional markets.
Organized by the Ministry of Economic Affairs Department of Investment Promotion, the event included investment authority officials from India, Indonesia, Malaysia, Thailand, Vietnam and the Philippines. The event included a keynote speech by Kevin Wu, partner of Bolston Consulting Group; an investment opportunities introduction and a panel discussion with officials; and a business-matching session.
MOEA Deputy Minister Chern-chyi C.C. Chen said during his opening remarks that the restructuring of the global supply chain has shifted international manufacturing bases into India and the Association of Southeast Asian Nations member states, citing the U.N. economic growth rate predictions for India at 6.9 percent and Southeast Asia at 4.8 percent. Taiwan entrepreneurs are key players in their growth, Chen said, adding that the country’s investment into the New Southbound Policy target countries accounted for 20 percent of its total foreign investment last year.
Chen went on to elaborate about the investment layout in India and ASEAN member states, pointing out electronic assembly and components enterprises pour large amounts into Vietnam, while circuit board manufacturers started investment in Thailand and Vietnam last year. Investment projects in Indonesia, Malaysia, and the Philippines focus on automobiles and textiles, semiconductors, and electronic components, respectively, Chen said, adding that investment in India centers on semiconductors, smartphone and electric vehicle components, among others.
According to Chen, Taiwan has signed the latest version of investment protection agreements with India, Thailand, Vietnam and the Philippines. The government looks forward to updating existing similar pacts with Indonesia and Malaysia to strengthen the resilience of overseas investment and deepen relationship with partners, he said.
The DIP said the department will continue to integrate networks such as the Taiwan Desk, which offers investment-relevant information, and the country’s overseas offices, to provide more consultation services. It will further host more physical and virtual seminars and convene investment delegations to help Taiwan enterprises expand relevant layout and strengthen investment resilience, the department added. (YCH-E)
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