A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Higher growth forecasts meet concerns of overheating As the first quarter comes to a close, many economic institutions are raising their forecasts for Taiwan’s 2021 economic growth. On March 24, the Yuanta-Polaris Research Institute projected annual GDP growth…
The Financial Supervisory Commission’s new action plan includes goals related to data liberalization, encouraging disruption and innovation, and talent development. Speaking at the Taiwan Capital Market Forum last August, President Tsai Ing-wen disclosed some startlingly ambitious plans to transform Taiwan into an Asian financial hub. “We are going to make Taiwan the number one center…
A proposed acquisition could be a turning point for Taiwan’s overbanked financial services industry. Last December, Fubon Financial Holdings, the second-largest financial services organization in Taiwan, announced that it was pursuing a hostile takeover of Jih Sun Financial Holdings through a public tender offer for at least 50% of the company’s shares. The offer is…
Last December, Taiwan’s Financial Supervisory Commission (FSC) announced the easing of requirements for foreign finance professionals, part of the government’s plans to make Taiwan an Asia-Pacific financial hub. The work experience requirement for senior financial executives applying for the Employment Gold Card – a special work visa that incorporates an alien resident certificate, open work…
Taiwan has often found itself underestimated or overlooked by the rest of the world – sometimes mistaken for Thailand or considered largely through the prism of China’s view of the island. Lately, however, Taiwan has been coming in for unaccustomed international attention. Over the past 14 months, its government’s early action and skillful handling of…
This school year, students in 85 selected Taiwanese elementary and junior high schools – an increase from 65 last year – are gaining exposure to English in courses aside from the usual language classes. In those schools, English is being used as a language of instruction in courses such as the arts, humanities, health, and…
A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Water Shortage Takes Toll on Industries While Taiwan relies on typhoons for 60% of its water usage needs, the absence of these severe weather events this past year has resulted the island’s worst water shortage in over five…
By Austin Babb and Jason Wu COVID Success Lures Foreigners Amid the ongoing COVID-19 pandemic, Taiwan continues to be an attractive location for foreign talent. Ministry of Labor statistics show an 18% increase in foreign white-collar workers in Taiwan since last year. In addition, there was an astounding 300% rise in 2020 in the number…
By Austin Babb and Jason Wu New Chief Named for Mainland Affairs Former Minister of Justice Chiu Tai-san was sworn in on February 23 as the new Mainland Affairs Council (MAC) minister. He replaces Chen Ming-tong, who has been appointed to head the National Security Bureau (NSB). During the swearing-in ceremony, Chiu pledged to resume…
The government has yet to include hydrogen in its renewable energy policies, but the private sector is already investing in this fast-growing area. The Star of Hope ferry carries up to 90 passengers several times a day across Sun Moon Lake, a routine journey made exceptional by the boat’s drive system: electric motors powered by…
