Superior Geographic Location, the Heart of Asia-Pacific
Taiwan is located at the heart of the Asia-Pacific region, which puts it in an advantageous position to make use of global production resources and marketplace. Taiwan’s north is the world’s third-largest economy-Japan, its south is the 10 countries of the Association of Southeast Asian Nations and India. East Taiwan is the world’s largest economy-the US, and its west is mainland China-the world’s second-largest economy and the centre of the world’s economic growth. The average flying time from Taipei to the seven major cities (Hong Kong, Shanghai, Manila, Seoul, Tokyo, Singapore and Sydney) in Western Pacific is merely 2 hours and 55 minutes. And the average sailing time from Kaohsiung harbour to the 5 major Asia-Pacific harbours is merely 53 hours. Taiwan is the hub of Asian transportation and the logistic centre in the East-Asian region.
Global Innovation Center” and “Global Operations Headquarters
Taiwan is very active in R&D and product innovation. It provides quality products and services, which enable the development of international brands. Taiwan also has easy access to mainland China’s production resources, which makes the rapid achievement of mass production possible. It is a superior innovation and R&D base. Taiwan’s wealthy production experience, the capability to commercialize innovative products rapidly and its global deployment are factors that help Taiwan create a value-added global production chain. Taiwan has become a production base for quality products. Furthermore, the scale and maturity of Taiwan’s capital market can assist Taiwan businesses in mainland China in listing in Taiwan’s exchange market and encourage international capital funds to participate in Taiwan businesses overseas deployment. Taiwan is in a position to be the capital fund centre for the international manufacturing industry and the base for a strategic alliance between multinational companies. These advantages help attract overseas technological professionals to come to Taiwan to start their business and attract foreign companies to come to Taiwan to participate in cross-strait technological projects. Taiwan has products which are designed for global ethnic Chinese markets and is also a testing platform for ethnic Chinese markets. These are also advantages to attract foreign companies to invest in Taiwan.
Excellent Performance in International Rankings and Superior Development Potential
Taiwan’s investment environment scores highly in numerous international rankings. In the “Global Competitiveness Report 2018,” issued by the World Economic Forum, Taiwan ranks 13th out of 140 economies. In the second “Business Environment Risk Intelligence” report of 2018, Taiwan ranks as the world’s 3rd best investment destination, trailing only Switzerland. According to the 2018 World Competitiveness Yearbook unveiled by IMD, Taiwan ranked 17th in terms of competitiveness among the 63 countries.
Taiwan has been ranked 1st in quality of life and the 2nd best place for expatriate overall in InterNations’ Expat Insider report for 2018.
In addition, in the World Bank’s “Doing Business 2019” report, Taiwan ﬁnished 13th out of 190 economies for ease of doing business. The Economist Intelligence Unit forecasts Taiwan’s business environment to be 14th best in the world during the 2014 – 2018 period.
Manufacturing and high-tech industries drive economic development in Taiwan. The output values of many Taiwanese products and industries, such as semiconductor, optoelectronic, information, and communication products account for more than 70% of the global market share. The production value of circuit wafer OEM makes up 67.4% in the world. These sectors and the assembly and testing sectors are all ranked No.1 in the world. The production values of Taiwan’s IC design, account for 21.5% in the world, and those of the TFT-LCD are in second place in the world. Its PC production value is 3rd.
In conclusion, the international ranking reports show that Taiwan’s business environment remains as excellent as it is now. Looking toward the future, Taiwan will continually create a better, friendlier environment, more conducive to business.