Ministry of Economic Affairs Links with ASEAN to Help Taiwanese Businesses Win the Thai Market

Director-General Lien Yu-ping of the Investment Commission of the Ministry of Economic Affairs led the "Taiwan-Thailand Investment Cooperation Promotion Delegation" on a visit to Thailand from April 25 to April 30 of this year (2016). The delegation comprised 19 companies, including automotive parts, energy-saving, and automation manufacturers such as China Motor Corporation, Depo, Chenglong, and Jebon. Through visits to local industrial zones and automotive manufacturers, the delegation aimed to understand the local investment environment and how to integrate into local industry supply chains. The visit will also help energy-saving and automation businesses expand exports, driving export opportunities.

The Investment Commission of the Ministry of Economic Affairs pointed out that ASEAN has become a rising new force in Asia. To help Taiwanese businesses seize business opportunities in the ASEAN market, the Investment Commission this year launched the "ASEAN Strategic Partnership Program" for the first time, combining close interaction between our country and ASEAN governments and the private sector to build diverse partnerships and help Taiwanese businesses upgrade their overseas industries and expand business opportunities.

The Investment Commission further stated that Taiwan and Thailand have always enjoyed close economic and trade relations. Currently, our country is already Thailand's third-largest foreign investor. Thailand, in its active efforts to attract foreign investment, has promoted numerous incentive measures. If Taiwanese businesses can leverage Thailand's advantages for their layout, it will help our businesses expand into the ASEAN market.

Therefore, the Investment Commission this year selected Thailand as the target country for its first investment cooperation promotion delegation, inviting automotive parts-related industry businesses to visit Thailand. Through holding Taiwan-Thailand investment forums, one-on-one business matching sessions, calls on Thailand's investment authorities, and visits to industrial zones and automotive businesses, the delegation helped Taiwanese businesses grasp new opportunities for development in the Thai market.

In addition, for the first time, Taiwanese energy-saving and automation businesses were integrated into the delegation, with the expectation of matching Taiwan's strengths in the energy-saving and automation industries with the needs of Taiwanese businesses in Thailand and local Thai businesses, helping Taiwanese manufacturers expand export opportunities for related services and equipment.