Taiwan economy 結果共93筆

Taiwan’s 2023 GDP growth forecast has been lowered to 1.42%, the lowest in 14 years, due to weaker exports and private investment. Year-end bonuses for Taiwanese workers have also been affected, with the average amount shrinking to 1.08 months’ worth of salary, hitting a 10-year low. The financial industry leads in bonus payouts with an average of 1.83 months’ salary, followed by the semiconductor industry at 1.38 months. The healthcare services industry averages just 0.97 months of salary, while the accommodations and food services sector lags further behind at only 0.59 months. Despite the downward revision, the DGBAS remains optimistic for 2024, forecasting a GDP growth rate rebound to 3.35%. However, challenges such as the Ukraine-Russia war, the Israel-Palestine conflict, and ongoing inflation may pose risks to the global economy. Looking ahead to 2024, local job banks predict pay increases in 47.5% of companies, with an average salary hike of 3.2%, slightly lower than in 2023. Experts caution that Taiwan’s economic recovery may not be as swift as hoped.

Learn about Taiwan’s pig farming industry, which involves over 3 million people and has an annual value exceeding NT$150 billion. Acting Minister of Agriculture Chen Junne-jih emphasizes the importance of quarantine stations to protect the industry and prevent the spread of African swine fever. With over 5,000 pig farms operating in Taiwan, the industry contributes significantly to the economy. Chen’s comments came after the implementation of manual inspection stations at Taoyuan International Airport caused a decline in its Skytrax ranking.

Taiwan’s Ministry of Labor (MOL) plans to introduce Indian migrant workers to address labor shortages. The initiative will adhere to domestic regulations and is not an immediate importation of 100,000 workers. The MOL will negotiate a Memorandum of Understanding (MOU) on labor service cooperation with India to ensure quality workers without disrupting social stability. Several countries have had positive experiences importing Indian labor, and currently, around 2,700 Indian laborers work in Taiwan. Taiwan’s economic and trade relationships with India are strong, making labor cooperation a priority. After signing the MOU, discussions on industrial quotas will occur. The MOL will rigorously assess qualification criteria such as language skills, professional abilities, educational background, and good behavior. The aim is for the introduction of migrant workers to contribute positively to Taiwan’s economic and societal development.

National Taiwan University (NTU) President Chen Wen-chang has announced plans to establish a new undergraduate semiconductor program, which has been submitted to the Ministry of Education for review. The program is expected to start in 2024, admitting around 50 to 60 students per year, mainly from international backgrounds. The renovated building at NTU’s Shuiyuan Campus will be designated for the use of prospective semiconductor major students. Additionally, Chen expressed his intention to establish an ＂International Political Economy Institute＂ at the renovated Downtown Campus on Xuzhou Rd., with further discussions and a university-wide meeting scheduled for December 23 to address concerns and foster dialogue on the proposed institute.

The Minister of Economic Affairs praised the growing industry ties between Taiwan and Japan at the 2023 Japan-Taiwan Image Exhibition. Investments from Japanese companies such as Ebara, Fujifilm, and semiconductor factories are expected to contribute significantly to Taiwan’s economy, reaching a value of NTD$10 billion. Japan’s interest in Taiwan’s semiconductor industry, particularly TSMC’s projects in Kumamoto, suggests the potential for future collaboration. Minister Wang Mei-hua emphasized the importance of adopting low-carbon and smart technologies for a sustainable future, aligning with Japan’s smart city initiatives. She also highlighted the potential of hydrogen power, urging Taiwan to follow Japan’s lead in developing new technologies and exploring infrastructure partnerships.

U.S. Ambassador Matt Murray highlights the importance of APEC as a platform for dialogue on supply chain resilience and economic security, with a focus on the semiconductor industry, ahead of the Biden-Xi Summit.

The Kaohsiung City Tourism Bureau has fined four hotels in Taiwan between NT＄10,000 to NT＄50,000 for increasing room rates during Coldplay’s concerts on November 11 and 12 at the Kaohsiung National Stadium. To prevent the tourism and accommodation industry from exploiting such opportunities, the Tourism Bureau conducts proactive inspections of hotel room rates. Reports indicate that four hotels were found to have inflated their prices, with one hotel seeing a 60% increase, resulting in a fine of NT＄50,000. The Kaohsiung City Government is making efforts to establish the city as a major global concert destination, with performances by international and domestic acts scheduled for 2023. While these events stimulate the tourism economy and increase demand for hotel accommodations, some operators take advantage of the situation by raising room prices. The director of the Tourism Bureau, Kao Min-Lin, has urged industry operators not to inflate prices during festivals, major events, or concerts. The Tourism Bureau will continue to inspect hotel room rates, maintain tourism and accommodation quality through strict supervision, inspections, and fines, and protect consumer rights and interests.

Over half of Taiwan’s residents believe that the country’s president and majority of legislators should come from different political parties, according to a poll conducted by Shih Hsin University’s Institute of Knowledge Economy Development. The poll showed that 51.8% of respondents held this view. Additionally, the poll found that 77.7% of participants supported the president giving a State of the Nation address to the Legislative Yuan. However, only 28.8% of participants were aware that an annual report to the legislature was a presidential responsibility. In terms of party cooperation, 53.5% of respondents backed the idea of the Kuomintang and the Taiwan People’s Party taking turns in the Presidential or Premier posts. Within this group, 36.1% were ＂somewhat supportive＂ and 17.4% were ＂strongly supportive,＂ while 30.2% opposed such a proposal. Furthermore, 34.5% of participants believed it would be best if the president and the majority of the Legislative Yuan were from the same party. This opinion was more prevalent among university graduates (59.3%) and those with postgraduate degrees (52.3%). The poll also revealed that 36.8% of respondents support the current government led by the Democratic Progressive Party (DPP), while 45.8% oppose it, and 17.4% did not express an opinion.

The Industrial Technology Research Institute (ITRI) has announced an 8.6 percent rebound in output, driven by developments in solar and wind power. Taiwan’s renewable energy market is expected to reach NT$200 billion in 2024. This was revealed during an ITRI industry forum that focused on cross-discipline cooperation in carbon solution exchange. Jay Wang, Vice Director of ITRI Industrial Economics and Knowledge Center, highlighted the challenges faced by the global economy due to high inflation and interest rates, which have increased investment costs for renewable energy development. Wang emphasized the importance of renewable energy in achieving a net-zero economy by 2050, but noted that oversupply has resulted in lower prices and the need for different approaches. Despite these challenges, Taiwan has excelled in the development and innovation of renewable energy, particularly offshore wind power, with an accumulated capacity of 2GW to date.

The Directorate-General of Budget, Accounting and Statistics (DGBAS) has revised Taiwan’s third-quarter GDP growth forecast to 2.32%, down from the previous estimate of 2.54%. The revision is attributed to a slowdown in private capital formation, including government and public enterprises’ fixed investments and stock changes. However, the DGBAS official, Wang Tsui-hua, stated that Taiwan’s economy is still improving, with a third-quarter GDP growth rate of 10.47% on a seasonally adjusted annual rate (saar). If fourth-quarter forecasts are maintained, this year’s GDP will be revised downward to 1.55%.

A potential war between the United States and Beijing over Taiwan could result in crippling losses for both sides, warns the Stimson Center. The article, titled ＂Is a Chinese Invasion of Taiwan the Most Likely Scenario?＂ highlights that a unilateral declaration of independence by Taiwan might trigger ground and aerial assaults from Beijing. A military simulation by the Center for Strategic and International Studies showed that a joint defense effort from the U.S., Japan, and Taiwan could repel a Chinese invasion but at devastating costs, including the loss of ships, aircraft, and troops. The war would also impact the U.S.’s global standing, hurt Taiwan’s economy, and potentially destabilize the Chinese Communist Party’s rule. China’s aerial superiority, with a ratio of 1900 to Taiwan’s 300, could result in airstrikes, missile and cyber attacks aimed at decimating Taiwan’s defenses and critical infrastructure. Simulations predict a rapid escalation of war, including potential bombing of U.S. military bases and a reciprocal U.S. attack on Chinese bases and navy. Any concrete steps taken towards official independence by Taiwan could serve as a catalyst prompting Beijing’s decision for forceful unification.

Taiwan’s TPP candidate, Ko Wen-je, introduces the ’Strong Generation Cultural Movement’ to redefine aging and boost the economy. Learn how this initiative addresses the challenges of an aging society.

Taiwan’s Minister of Economic Affairs emphasizes the importance of key tech industries to the country’s economy and the need to protect them from corporate espionage. The high-tech sector in Taiwan has attracted attention from mainland China, resulting in the headhunting of Taiwanese tech talent. In response, Taiwan amended its National Security Act to impose stricter penalties for theft of business secrets. Additionally, Taiwan’s industrial production index has declined for 16 months, but there are signs of increased demand in the AI industry chain. Despite uncertainties in consumer behavior and global economic recovery, industry feedback suggests potential growth in future quarters.

DPP presidential candidate Lai Ching-te has called on Mainland China to appreciate the contributions of Taiwanese business people to its economy. This appeal comes as Foxconn Group, a major Taiwanese tech firm, faces investigations by China’s tax and natural resources departments. Lai emphasized that Taiwanese business people are an important asset to China, fostering economic growth and creating opportunities. He urged China not to pressure Taiwanese business people during the upcoming election, warning that it would harm both sides and undermine confidence in the Chinese market. Lai also called on China to respect Taiwan’s democratic constitution and lifestyle and to accept that the civil war between the Kuomintang and the Communists is over. He encouraged China to engage in equitable and dignified dialogue exchange.

Taiwan’s Ministry of Economic Affairs reported that the Industrial Production Index for September 2023 decreased by 6.72% compared to the same month in the previous year. The manufacturing industry experienced a decline rate of 7.01%, marking 16 consecutive months of negative growth.

Vice presidential candidate Lai Pei-hsia joins forces with Foxconn founder Terry Gou for the 2024 Presidential Election, aiming to attract overseas Taiwanese businesspeople and boost the nation’s economy. Get the latest on this partnership.

Business tycoon Terry Gou announced his independent presidential candidacy with singer-actress Lai Pei-hsia as his running mate. Despite their political inexperience, they aim to boost Taiwan’s economy. Get the latest updates on this unconventional political alliance.

Kuomintang (KMT) presidential candidate Hou Yu-ih unveiled his policy agenda aimed at enhancing working conditions and salary levels on Friday, September 8.

Business tycoon Terry Gou said on Friday (Sept. 1) he aims to ＂strengthen Taiwan’s economy and restore hope to the people of Taiwan.＂ 

Taiwan’s regular wages dip due to rising inflation, leading to a surge in gig economy adoption. Workers opt for freelance roles to secure better pay and shorter hours. Learn how this trend impacts Taiwan’s labor landscape.

Taiwan Foreign Minister Joseph Wu highlighted the crucial role of Taiwan’s semiconductor industry to the global community in the latest TVBS Meeting Room with Former U.S. Secretary of Defense Dr. Mark T. Esper on Monday (July 17) evening. 

President Tsai Ing-wen emphasized Taiwan’s goal of net-zero emissions and digital transformation in her speech at the 26th second members meeting of the Chinese National Association of Industry and Commerce, Taiwan (CNAIC) on Tuesday (July 4). 

As Taiwan’s COVID-19 situation stabilizes, more people are dining out, prompting delivery platforms to expand their offerings beyond food. 

In today’s economy, many young adults face the challenges of low wages and increasing inflation and interest rates. 

The average age for first-time pension recipients in Taiwan has decreased in recent years, according to data from the Bureau of Labor Insurance.