Foundation of Taiwan’s Economic Development
In the Global Competitiveness Report released by the World Economic Forum (WEF) in September 2013, it shows Taiwan retaining its position as the 12th most competitive economies among the 148 countries in the world and 4th among Asian economies. Taiwan’s overall scores demonstrate the tenacity of the local business community amidst a slow global recovery. Taiwan also ranked high in the Economy Intelligence Unit (EIU) global innovation index 2009-2013 at 6th place behind Japan, Switzerland, Finland, Germany, and the U.S. It, however, ranked 1stamong the newly industrialized nations. In the 2014 Bloomberg Global Innovation Ranking, Taiwan placed 10th in the world and 4th in Asia behind South Korea, Japan and Singapore…
Current Development in Local Machine Tool Industry
World’s Seventh Largest
Taiwan’s machine tool production amounted to US$3.55 billion in 2013, trailing behind that of Japan, Germany, China, South Korea, United States and Italy. Machine tools form the largest segment of the local machinery industry in terms of dollar value. Most of the machine tools rolled out in local factories are exported to one of the 138 markets overseas…
Core Advantages of Taiwan’s Machine Tool Industry
Industry clusters first took hold in Taiwan following the establishment of the Taichung Industrial Park, and later replicated in Hsinchu, Central Taiwan and the Southern Taiwan Science Parks. As a result of this success, a number of mechanical industry parks have been planned for Taichung, Fengzhou, Chiayi, and Zhanghua.
This industry cluster is made up of over 1,800 small and medium sized machine tool manufacturers. All are capable of flexible production, individual technical support, and short lead time. As everyone in this cluster works together and lends different specialties, this has created a complete and flexible entity to support global supply chains…