“ASEAN nations have abundant resources and great market potential. The establishment of the ASEAN Economic Community in December last year not only captured global attention but demonstrated that member countries have entered a new era in terms of their economic models and development,” Vice Minister of Economic Affairs Wang Mei-hua said at the opening of the event. “In response, Taiwan’s government is actively promoting its New Southbound Policy to foster comprehensive partnerships with ASEAN member states through increased two-way trade, investment, cultural, talent and tourism exchanges.”
The one-day event featured an address by James C. F. Huang, director-general of the New Southbound Policy Office under the Office of the President and a keynote speech by Izuru Kobayashi, chief operating officer of the Jakarta, Indonesia-headquartered Economic Research Institute for ASEAN and East Asia.
It also included an exhibition, a panel discussion on the opportunities and challenges of tapping ASEAN markets, and seminars on available incentives and ASEAN member states’ priority sectors for investment. A number of local and ASEAN-based companies signed memorandums of understanding on establishing cooperation during the event.
Statistics released by relevant authorities in ASEAN countries show that more than 11,000 Taiwan companies have invested nearly US$88 billion in the region, making ASEAN the second-largest destination for foreign investment from Taiwan, Wang said at the forum.
Furthermore, more than 250,000 Taiwan businesspeople live and work in these nations. They have formed a manufacturing network and made significant contributions to the region’s economic development for more than three decades. Taiwan-funded projects in ASEAN countries largely focus on traditional labor-intensive manufacturing industries such as bicycles, footwear, metal processing and textiles and garments.
Held under the ASEAN Strategic Partnership Program formulated early this year, the investment forum is among a range of activities planned by the Ministry of Economic Affairs to foster commercial links between the two sides. The MOEA also intends to arrange business matching services, investment promotion missions and talent recruitment events. (KH-CM)
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