The News Lens
Date: 2017/11/10
By: Martin Hiesboeck

Taiwan’s New Southbound Policy smacks of colonial arrogance and misallocates

company resources. Taiwan must focus on profitable markets rather than convenient geographies.

Since the election of President Tsai Ying-wen (蔡英文) and the resumption of Democratic Progressive Party government, every layer of the administration has again adopted the “Go South” policy. I have been a critic of The New Southbound Policy (hereafter referred to as “Go South”) for many years and said so in countless interviews, as well as the article “5 Bold Steps for Taiwan’s Future”.

Since the publication of that article, Taiwan’s government has made great progress. New laws which make it easier for qualified foreigners to live, work and start companies in Taiwan go hand in hand with reforms in the health sector. Same-sex marriage is almost a reality, and much support has been given to help the development of artificial intelligence, Internet of Things (IoT), industrial internet of things (IIoT) and Industry 4.0 solutions for Taiwan’s machinery industry.    [FULL  STORY]

Radio Taiwan International
Date: 2017-11-09

The Philippines may be the first country covered by the government’s New Southbound

policy to sign a new investment agreement with Taiwan.

An unnamed source said details of a revised Bilateral Investment Agreement have been agreed over the past few days. The agreement is said to open more areas to investment than previously, including intellectual property. The agreement also reportedly ensures Taiwan receives the same protections as other countries. The deal is also said to allow Taiwanese investors to appeal to the government of the Philippines to mediate in cases of dispute.

Gordon Sun of the Taiwan Institute of Economic Research said the signing of such agreements should be a relatively easy process.    [FULL  STORY]

Cabinet passes draft amendments to the Labor Standards Act on November 9

Taiwan News 
Date: 2017/11/09
By: Sophia Yang, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – Less than a year after the launch of a measure involving two

days off following every five working days (一例一休), Taiwan’s Cabinet has announced a draft amendment to the Labor Standards Act that will allow flexible work-time arrangements and expand maximum overtime hours from 46 to 54.

Some local business associations complained the existing workweek rule was not suited to their sector.

Outspoken I-Mei Foods CEO Luis Ko, who has been supporting workweek reform, said at a company event on Thursday that the proposed draft amendment should have given business more flexibility and provided more legal protections for workers given increased maximum overtime hours. Ko added that workers should not be forced to work overtime if they are not willing to, and business should not be discouraged by excessive regulations.

Asked by reporters about his opinion on the new draft amendments to the labor act, Ko backed relaxation of the workweek rules as the existing rule was not suited to high-tech or multinational companies, but thinks the amendment has room for improvement by providing clear guidance and cutting red tapes to allow a business to reach its full potential.     [FULL  STORY]

Focus Taiwan
Date: 2017/11/09
By: Elaine Hou and William Yen

Da Nang, Nov. 9 (CNA) Taiwan has conducted talks with the Philippines and is hoping

for the swift completion of the renewal of the two countries’ bilateral investment agreement (BIA), Taiwan’s minister of economic affairs said Thursday in Da Nang, Vietnam.

Minister Shen Jong-chin (沈榮津) said “both sides have completed negotiations and review,” and he hopes that the two sides will soon complete domestic procedures to enable the signing of the agreement.

He was speaking at a press conference during the Asia Pacific Economic Cooperation summit which is held in Da Nang.

Taiwan also used the opportunity at the APEC ministerial meeting to conduct side-line talks with the Philippines, Indonesia and Australia, Shen added.    [FULL  STORY]

TRADE ROUTES:Taiwan is eyeing the US$100m certified halal exports market into Malaysia and the Middle East, promoting the nation’s bubble tea to Muslim consumers

Taipei Times
Date: Nov 10, 2017
By: Lauly Li

Taiwan External Trade Development Council (TAITRA, 外貿協會) plans to extend the

Taiwan Expo to Thailand and India next year in a bid to help Taiwanese manufacturers tap into more southbound markets, TAITRA chairman James Huang (黃志芳) said yesterday.

“The Taiwan Expo has served as an effective platform for companies from a wide range of industries to showcase their products and total solutions in regional markets,” Huang told a news conference after the exhibition’s opening ceremony at the Kuala Lumpur Convention Center.

TAITRA representatives in regional markets would continue to assist Taiwanese firms with marketing and communicating with potential business partners after the exhibition finishes, Huang said.    [FULL  STORY]

Investors are advised by asset manager to short KRW against USD as a proxy hedge amid geopolitical risk in peninsula; emerging markets remain outperformed in equities

Taiwan News 
Date: 2017/11/08
By: Sophia Yang, Taiwan News, Staff Reporter

TAIPEI (Taiwan News) – UK-based Schroders Investment Management published a

report on Wednesday to reveal its 2018 outlook, predicting global GDP to grow by 3 percent and a “synchronous global growth” for the first time.

Patrick Brenner, head for multi-asset investments in Asia, said in Taipei on Wednesday that improving earnings and fundamentals in Europe, the United States, Japan and other emerging markets will create a good picture for the year ahead, with global equities to deliver positive returns.

In Wednesday’s report, Europe equities are expected to outperform the U.S.’s given its low base year and improved earnings per share, while emerging markets are said to take the lead in equities thanks to their attractive valuations as well as the trend of a stable or weak U.S. dollar.    [FULL  STORY]

The China Post
Date: November 8, 2017
By: Elaine Kurtenbach, AP Business Writer

DANANG, Vietnam (AP) — Foreign and trade ministers of 21 Pacific Rim economies

were working Wednesday to reach a consensus on open markets despite the U.S. pushback on “free trade” ahead of summit meetings in Vietnam’s coastal resort city this week.

“The global and regional landscapes are experiencing continued shifts with intertwining opportunities and challenges. Economic recovery is firming but projected growth rates are still below pre-crisis averages,” Vietnam’s Foreign Affairs Minister Pham Binh Minh told the ministers as they sat down to work out details of a declaration the leaders customarily issue at their annual summit.

Many in the region worry over how efforts to boost productivity through automation might affect their own lives. But the host for this summit, Vietnam, is using the occasion to showcase the progress its economy has made thanks largely to opening to foreign investment and trade.    [FULL  STORY]

A representative of IBM, Jia Jingguang, discussed the future of AI with attendees of the IEK industrial innovation seminar in Taipei.

Taipei Times  
Date: 2017/11/06
By: Duncan DeAeth,Taiwan News, Staff Writer

TAIPEI (Taiwan News) — A seminar discussing trends in industry innovation hosted by

the Industrial Technology Research Center (IEK工研院) began in Taipei at the NTUH International Convention Center on Nov. 6.

On the opening day of the event, the topic of discussion was the future of AI, or artificial intelligence, in people’s daily affairs. A spokesperson for IBM Taiwan suggests that within the next 5 to 10 years, AI will become an indispensable tool that will help people to make important decisions in their everyday lives.

The director of the global consulting services for IBM Taiwan, Jia Jingguang (賈景光) in his keynote address discussed the internet of things, and how artificial intelligence is already shaping different fields of technology, including finance, and medicine. He suggests that in light of current technological and market trends, that AI will be absolutely necessary to help people navigate a world of big data, and market shifts that will be too rapid for people to manage.    [FULL  STORY]

Focus Taiwan
Date: 2017/11/06
By: Chu Tze-wei, Yu Hsiao-han, Huang Ya-chuan and Elizabeth Hsu

Taipei, Nov. 6 (CNA) The government’s planned revisions to controversial five-day

workweek rules that it enacted late last year have received mixed responses, but both business groups and labor unions objected to a proposed change on overtime hours.

The revisions, discussed at a meeting between Cabinet officials and ruling Democratic Progressive Party lawmakers on Monday, were welcomed with cautious optimism by foreign business organizations, including the American Chamber of Commerce in Taipei (AmCham Taipei).

The new proposal will change the current monthly cap on overtime of 46 hours to 138 hours over three months but allowing for up to 54 hours in a single month.

Another proposal will allow employers to lower the rest period between shifts for employees, currently set at a minimum of 11 hours, to as few as eight hours if they receive the consent of their workers or labor unions.    [FULL  STORY]