The Bureau of Foreign Trade (BOFT) announced the launch of a new integrated marketing project for the machine tools industry at the “Taiwan Machine Tools Future Innovation Conference,” hosted by the MT Duo 2014 Taipei Manufacturing Technology Show, which ran from May8-11 at the Nangang Expo Center. The biennial MT Duo showcases the machinery manufacturing industry, and runs on alternate years withTIMTOS, which focuses specifically on the machine tools manufacturing industry.
Entitled the “Integrated Marketing Communications Project for the Taiwan Machine Tool Industry,” the new project is aimed at supporting an industry that has recently gained more attention from investors and government officials alike as both groups look for ways to jumpstart Taiwan’s lackluster economic growth.The machine tools manufacturing industry is much smaller than Taiwan’s leading industries in ICT and petrochemicals, but tiny, more nimble machine tool makers havedemonstrated their capacity to generate higher margins than commodity manufacturers. Comprised almost entirely of SMEs located in a 60 square kilometer section of Taichung said to be the world’s most intense machine tools manufacturing cluster, the industry employs over 300,000 workers and has earned a reputation for cross-industry collaboration that allows for customized production at lower costs. And despite many firms’ lacking R&D budgets in an industry that increasingly rewards innovation, Taiwan manufacturers have nevertheless managed to maintain product quality and competitiveness.