India is actively wooing foreign investors for its fast-growing economy and market. With a population of 1.3 billion, many of whom are keen to upgrade their consumer electronics, the South Asian nation presents huge business potential for Taiwanese firms seeking to cut their dependence on China and deepen their presence elsewhere in Asia. India-Taipei Association Director-General Sridharan Madhusudhanan shared his views on how Taiwan and India could build each other up economically during an exclusive interview with ‘Taipei Times’ staff reporter Crystal Hsu at his office yesterday morning
Taiwan’s Vice Economic Minister Shen Jong-chin recently announced a US$2.29 billion plan to transform Taichung City into a smart machinery hub.
Shen defined the smart machinery industry as encompassing robotics, IoT, big data, smart technology, precision mechanics and smart manufacturing. According to the plan, a smart machinery park will be built in Taichung City and will have more than 30 hectares of available space to host 50 manufacturers.
Product Launch & Press Conference at Metalloobrabotka 2017
10:30-12:00, May 16th
74C80, Pavilion 7, Level 2, Hall 4, Expocenter
Moscow–The Taiwan Product Application Demo Show (Booth #74C80) at Metalloobrabotka 2017 will highlight the technological strengths of Taiwan’s metalworking and machine tools industries by exhibiting the work pieces and smart manufacturing products/solutions from Taiwan. The event aims to enhance the local manufacturing sectors’ competitive edge, especially the automotive and aerospace manufacturing industries in Russia.
TAIPEI (Taiwan News)—Taiwan’s Vice Economic Minister Shen Jong-chin (沈榮津) announced plans to invest NT$70 billion (US$2.29 billion) to transform Taichung City into a smart machinery city.
The Tsai Administration aims to transform Taiwan into a top exporter of smart machinery equipment, periphery accessories and systems to neighboring Southeast Asian countries.
Taiwan – The event, held early March in Taipei, hosted about 1,100 exhibitors from 21 countries and recorded 47,500 visitors from 90 nations.
Taipei International Machine Tool Show (TIMTOS) is Asia’s second largest and Taiwan’s largest metal processing equipment trade show. The theme for the recently held 26th edition was ”Industry 4.0+ & smart manufacturing for seamless industrial upgrades”. The inauguration witnessed the presence of leading players from the machine tool sector. David Chuang, Vice Chairman, TAMI said, “Timtos has become an important platform for machine tool companies around the world to showcase their latest models and technology prowess. It is also the go-to venue where buyers, home and abroad, source their machine tools.”
With a total population of less than 24 million, Taiwan is known for its diversified manufacturing sector ranging from high-tech industries such as electronics and IT, to home appliances and bicycles. Companies such as Asus, Delta Electronics, Tatung and Giant have made their mark in the international market as leading brands from Taiwan.
But given price competition from China-made products and a slowdown in the global economy as well as demand in certain sectors such as personal computers (PC), Taiwan has seen a need to sharpen the competitiveness of its manufacturing sector and broaden export markets. Innovation, say high-ranking officials and business executives, is the key for Taiwanese industries to thrive and generate more export revenue in the years to come.
Sourcing Taiwan, the annual procurement event hosted by TAITRA, saw a big rise in buyer attendance from Southeast Asia this year.
Now in its 9th year, the latest edition of Sourcing Taiwan was held at the Taipei Nangang Exhibition Hall on March 29, 2017.
The Ministry of Economic Affairs (MOEA) hosted a press conference on Monday to publicize Sourcing Taiwan 2017, a trade event for international buyers and sellers, that is taking place this Wednesday at the Nangang Exhibition Center.
According to the event’s organizers at MOEA’s Bureau of Foreign Trade, Sourcing Taiwan 2017 serves “as a trade link between global buyers and top-rated Taiwanese suppliers."
Taiwan was listed 11th in the 2017 global rankings for economic freedom, jumping 3 places to gain its highest ranking ever, according to the Heritage Foundation, which released the index recently.
Taiwan was ranked ahead of both the United Kingdom (12th) and the United States (17th), the Heritage Foundation’s Index of Economic Freedom showed.
Photo: National Palace Museum © SUPERJOSEPH | DREAMSTIME.COM
ACROSS THE CHOPPY WATERS from mainland China in Taiwan’s capital of Taipei, a bold wind of creativity spurred on everyone from whiskey makers to IT innovators.
Last fall the government initiated a high-tech project to rival America’s Silicon Valley under a new scheme dubbed “the Asian Silicon Valley,” a masterful economic plan to be completed by 2023 in neighboring Taoyuan City. A $357.9 million budget has already been slated this year alone to help startups and research and development for internet industries. Meanwhile, the Taiwanese whiskey distiller Kavalan earned a reputation among whiskey connoisseurs as the world’s best. In 2015 Kavalan’s Solist Vinho Barrique earned the title “World’s Best Single Malt Whisky” from the prestigious World Whiskies Awards.
But Taipei hasn’t always enjoyed this sweet smell of success.