Seminar on ‘Investment Opportunities in Taoyuan, Taiwan’ organized by TAITRA in Bengaluru

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

The Taiwan Trade External Development Council - TAITRA organized a seminar on “Investment opportunities in Taoyuan” in Bengaluru on 5th June, 2018.

The Taiwan Trade External Development Council – TAITRA organized a seminar on “Investment opportunities in Taoyuan” in Bengaluru on 5th June, 2018. Taoyuan is a planned integrated business city located 40 km southwest of Taipei, Taiwan.

The highlight of the event was the keynote address given by Dr. Da-Nien Liu, Director, Chung-Hua Institute of Economic Research, Taiwan. Speaking at the event, Dr. Da-Nien Liu emphasized the sound industrial confluence in Taoyuan, Business opportunities and future development in Taoyuan and Industrial cooperation between India and Taoyuan.

The seminar witnessed the senior level participation of Mr. Menon, President - World Trade Centre Bangalore, Dr. Da-Nien Liu, Director, Chung-Hua Institute of Economic Research, Taiwan, Mr. M.N.Vidyashankar IAS (Retd.) - Former Additional Chief Secretary to Govt. of Karnataka, Mr. Kuo, Yu-Hsin - Chief Secretary, Department of Economic Development, Taoyuan City Government, Mr. Mohan Rajamani, Vice Chairman - Indo American Chambers of Commerce, Karnataka and others.

The seminar witnessed the senior level participation of Mr. Menon, President – World Trade Centre Bangalore, Mr. M.N.Vidyashankar IAS (Retd.) – Former Additional Chief Secretary to Govt. of Karnataka, Mr. Kuo, Yu-Hsin – Chief Secretary, Department of Economic Development,  Taoyuan City Government, Mr. Mohan Rajamani, Vice Chairman – Indo American Chambers of Commerce, Karnataka and others.

The objective of the seminar is to strengthen the economic relationship, boost trade relations and increase investments between India and Taoyuan.

Invest Taoyuan is transforming the city’s investment climate by simplifying the business environment for investors. Taiwan was the 13th largest export and the 18th largest import partner of India in 2017.

Taoyuan has 32 Industrial Parks, 11 Industrial & Commercial Compounds and 7000 hectares of industrial lands. Taoyuan serves as a strategic hub which is connecting Northeast and Southeast Asia.  Most of the major cities in Asia can be reached Taoyuan within 6 hours of flight time. The city is well connected by Land, Sea and Air transports which ease the logistics of the companies.

Taoyuan is considered a highly strategic location for new business investments. Additionally, the city’s infrastructure and workforce also established very much.

Rising economic influences of Taoyuan:

  • More than 35% of Taiwan’s top 500 manufacturers such as 3M, Coca-Cola, DuPont, and Toyota choose Taoyuan as their primary production base which addresses the business environment of the city

  • Single window clearance & higher tax benefits for corporates / investors (Business Income Tax rate in Taoyuan is 20% where 30% in Australia, 30 % in Japan and 25 % in China)

  • Taoyuan owns Taiwan’s largest cluster of auto assemblers and parts makers, giving it an edge in developing the EV industry

  • Many EV companies like Gogoro, have begun to set up production bases in Taoyuan

  • Taoyuan city has 17 Universities, 13 Innovation Incubation Centers and 22 industrial organizations which all establishing a talent database and facilitating the cooperation between industries and academic institutions

  • ICT Industry, Logistics Industry, Biotechnology, Green Energy, Aerospace parts &  maintenance and Electric vehicles are the key industries to invest in Taoyuan

Trade between India & Taiwan:

  • Taiwan has global innovator in the field of electronics, optical communication, information service and nanotechnology

  • Taiwan has become a highly reliable technological base for high quality electronics and manufacturing of 3D Printers and laptops

Taiwan’s top 5 imports from India in 2017

Taiwan’s top 5 exports to India in 2017

Sector

%

Sector

%

Mine & Fuel

Metal Products

Steel

Chemistry

Electronic Equipment

Others

39

15

13

12

04

17

Machinery

Plastic

Chemistry

Electronic Equipment

Steel

Others

20

20

19

15

06

20

India Electronics and Semiconductor Association (IESA) – Bengaluru headquarted premier trade body of India opened its first overseas office in Taipei on 21st August, 2017.

The seminar also saw sector-specific participants like IT, Electronics, Textiles, Smart Technology, Agriculture & Food Processing, Warehousing and so on. There was a detailed discussion on ‘Exploring the business and investment opportunities in Taoyuan’ by industrial experts. Representatives from Bengaluru based companies/organizations like IESA shared their experience of investing successfully in Taoyuan.

The event was followed by a Question and Answer session where participants raised specific queries on the taxation structure in Taoyuan and the incentives offered to Indian investors in Taiwan.

The seminar received an overwhelming response with more than 100 representatives of various sectors from Bengaluru / Karnataka. On the sidelines of the seminar, several B2B meetings were arranged. Through such networking meetings, the participants & Taiwan officials discussed the positive, practical steps that can be taken to open viable investment opportunities in Taoyuan to either grow or enter in the city’s business community.

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