Taiwan Profile

With strong manufacturing, advanced technology, and a global trade network, Taiwan continues to be an attractive location for overseas companies. Here are some key features foreign businesses will want to be aware of, as well as a SWOT Analysis of Taiwan. To better understand if you’re ready to enter the market, click here to take our Readiness Check.

• Advanced Technology Industry: Taiwan is known for its strong technology sector, particularly in the semiconductor and electronics industries. Companies like TSMC (Taiwan Semiconductor Manufacturing Company). Taiwan has a pivotal role in global chip manufacturing.
• Export-Oriented Economy: As a major exporter of electronics, machinery, chemicals, and other manufactured goods, Taiwan has a highly export-oriented economy
• Strong Manufacturing Base: The manufacturing sector is a significant contributor to the economy, with a focus on high-tech products and precision manufacturing.
• Global Trade Relationships: Taiwan maintains a complex relationship with China, which considers Taiwan a part of its territory. Despite this, Taiwan maintains diplomatic and trade relationships with many countries around the world, albeit with certain limitations due to its diplomatic status.
• Entrepreneurial Culture: Taiwan has a vibrant entrepreneurial ecosystem. The government and various organisations have been actively promoting startups and innovation, leading to the growth of numerous tech startups.
• Financial Services: Taiwan has a well-developed financial sector, with a strong banking system and a growing presence of insurance and investment services.
• Robust Infrastructure: The country boasts modern and efficient infrastructure, including transportation networks, telecommunications, and energy supply.
• Global Brands: Taiwanese companies like ASUS, Acer, HTC, and Giant Manufacturing have established themselves as recognised global brands in electronics, technology, and bicycles.
• Education and Research: Taiwan places a strong emphasis on education and research. It is home to several prestigious universities and research institutions, contributing to technological advancement.
• Tourism and Cultural Heritage: Taiwan’s rich cultural heritage, beautiful landscapes, and culinary scene attract tourists. The tourism sector contributes to the economy and cultural exchange.
• Open Market Economy: Taiwan has a relatively open market economy, and foreign investment is welcome. The government has taken steps to liberalise various sectors and improve the ease of doing business.
• Strong Intellectual Property Protection: Intellectual property rights are generally well-protected in Taiwan, which is crucial for fostering innovation and attracting foreign investment.
• Challenges with Regional Politics: The political situation with China remains a challenge. Taiwan’s status and international recognition are complicated due to China’s claims over the island.