2. TAIWAN Population 23 million Local currency New Taiwanese Dollar Local time GMT +8 hours Official language Mandarin Chinese GDP per capita US$30,100 (2007) GDP (purchasing power parity) US$698.6 billion (2007) 2 Taoufik Kartoubi -- tkartoubi@gmail.com
3. MarketOverview As well as being an important market in its own right, Taiwan is also an invaluable stepping stone into China. One million Taiwanese live and work on mainland China, while more than 70,000 Taiwanesecompaniesoperatethere, including 14 of China’s top 100 exporting businesses. Affluent Taiwan, whichboasts a sophisticatedretailmarket, has a GDP per capita that, in PPP terms, is equal to that of Spain. It has a global reputation for high technology, being the world’snumber-one manufacturer of notebook computers, PDAsand scanners, and is among the top threefor semiconductorsand displays. 3 Taoufik Kartoubi -- tkartoubi@gmail.com
4. Key opportunities The followingsectors in Taiwan provide some of the best opportunities for UK companies: Education and Skills Taiwan ishighlycommittedto education. In 2006, total educationalexpenditure (both public and private) exceeded US$21 billion, or about 5.7 per cent of GDP. ICT Taiwan is a leading economy for ICT, withhigh-technologycontributing some 35 per cent of exports. Taiwan has developed one of the most advancedtelecommunicationnetworks in Asia and mobile wirelesspenetration stands at more than 100 per cent. 4 Taoufik Kartoubi -- tkartoubi@gmail.com
5. Key opportunities Nanotechnology Taiwan regards nanotechnology as a keypriority, as demonstratedby its decision to inject US$630 million intosmalltechnologyresearchbetween2003 and 2008. In the last five years, the production value of Taiwan’snanotechnologysector has amounted to US$9.68 billion. Rail Taiwan’s new High Speed Rail line started operating in March 2007 and, at a contract value of US$17 billion, is the most expensive in the world. There are also severalother major railwayprojectsunderway. 5 Taoufik Kartoubi -- tkartoubi@gmail.com
6. Otheropportunities The UK’s major exports to Taiwan include machinery and transport equipment, chemicals, Scotch whisky and manufactured goods, but there are also opportunities for British firms in a range of sectors, of which the following gives a flavour of the range. Aerospace Agriculture Clothing, Footwear & Fashion Construction Creative & Media Environment Financial & Legal services Food & Drink 6 Taoufik Kartoubi -- tkartoubi@gmail.com
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8. Garrad Hassan and Partners Ltd won a windpowertechnologytransfercontractwithIndustrialTechnologyResearch Institute (ITRI), the largest national laboratoryin Taiwan, in early 2007.
9. Around 30,000 people visited the British Design Exhibition ‘Love & Money’ in Taiwan in October 2007.
10. In December 2007, HSBC acquiredTaiwan’s “The Chinese Bank” throughgovernmentauction.7 Taoufik Kartoubi -- tkartoubi@gmail.com
11. The Taiwanese government is also encouraging ICT demand and development as a key component of the country’s national development plan, “Challenge 2008.” One of the central elements of this plan is to establish Taiwan as the key location in Asia for advanced ICT manufacturing and R&D. 8 Taoufik Kartoubi -- tkartoubi@gmail.com
