Deficient in natural resources, Taiwan can learn from Finland’s innovation initiative

Taiwan News
Date: 2020/01/21
By: Huang Tzu-ti, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — The experience of Finland and the Baltic states can serve as a reference for Taiwan as it charts its own path to stay relevant on the international stage, said Taipei Mayor Ko Wen-je (柯文哲) on Monday (Jan. 20) as he wrapped up his European trip with stops in the Czech Republic, Estonia, Latvia, and Finland.

One of the purposes of the visit was to gain insight into how Finland and the Baltic countries had managed to retain their independence under the threat of the regional power, the Soviet Union, said Ko.

Ko believes that innovation is the only way out for Finland, a country with scarce natural resources and a poor demographic dividend due to a low birth rate. The operations of the state-owned VTT Technical Research Centre of Finland, for example, could be a source of inspiration for Taiwan, as it pioneers in technological innovation and offers solutions to social problems, he said.

The mayor also expressed interest in how the Finnish multinational telecommunications and IT company Nokia has reinvented itself to secure a footing in the era of 5G technology following its failure to catch up with the wave of smartphone development.    [FULL  STORY]

Focus Taiwan
Date: 01/21/2020
By: Han Ting-ting and Frances Huang

Taipei, Jan. 21 (CNA) iRent, one of the leading e-scooter sharing companies in Taiwan, said Tuesday that it is planning to take its service into Taoyuan soon, extending its reach to the last of the six largest cities in Taiwan.

The iRent service in Taoyuan will start after the seven-day Lunar New holiday, which ends on Jan. 29, the company said, but it did not give an exact date.

Currently, iRent e-scooters are available in Taipei and New Taipei in northern Taiwan, Taichung in central Taiwan, and Tainan and Kaohsiung in the south, five of the six municipalities in the country.

iRent is operated by Taiwan's largest car vendor Hotai Motor Co., which is a sales agent for Japan's Toyota Motor Corp.    [FULL  STORY]

Mitsui Outlet Park Tainan is the third mall in Taiwan operated by Japanese real estate group

Taiwan News
Date: 2020/01/20
By: Huang Tzu-ti, Taiwan News, Staff Writer\

TAIPEI (Taiwan News) — Japanese real estate developer Mitsui Fudosan broke ground at the Mitsui Outlet Park Tainan on Monday (Jan. 20), the largest retail park of its kind in the southern Taiwan metropolis.

The new shopping mall will be the third outlet in Taiwan operated by Mitsui group, in addition to those in New Taipei’s Linkou and Taichung Port, reported CNA. Located adjacent to Tainan Station of the Taiwan High Speed Rail (HSR), the four-story mall will be 5.86 hectares and have 160 stores upon completion of the first phase in 2022.

The number of brands will grow to 220 by 2025, wrote Liberty Times. The venture is expected to generate job opportunities while driving local industrial development, said Tainan Mayor Huang Wei-cher (黃偉哲).

It will also contribute to the “Grand South Plan” (大南方計畫), part of President Tsai Ing-wen's (蔡英文) electoral platform. This aims to boost growth in southern Taiwan through the implementation of tech, transport, and commercial projects, as outlined by Vice President-elect William Lai (賴清德).    [FULL  STORY]

Focus Taiwan
Date: 01/20/2020
By: Yang Sz-juei, Liao Yu-yang and Frances Huang

Taipei, Jan. 20 (CNA) Another Mitsui Outlet Park broke ground in Tainan City on Monday, and will soon become the third outlet to be operated by Japanese real estate developer Mitsui Fudosan Co. in Taiwan.

The third Mitsui Outlet Park — coming after the first one located in Linkou of New Taipei and the second in Taichung — will be built adjacent to the Taiwan High Speed Rail's station in Tainan, southern Taiwan, and the investment is expected to bring the largest shopping center to the city.

According to Mitsui Fudosan, construction of the third Mitsui Outlet Park will be completed in two stages.

Under the first phase, 160 stores will be built on a total of 64,000 square meters of floor space. Phase 1 is scheduled to become operational in 2022.    [FULL  STORY]

Stuff
Date: Jan 20 2020

Carlos Tavares, a former Renault star credited with reviving the company’s French rival Peugeot, is sometimes dubbed the "restructurer-in-chief". Forging an alliance between PSA and Fiat Chrysler could be his biggest challenge yet. Ciara Lee reports

Fiat Chrysler is in talks with the Taiwanese company Foxconn to develop and manufacture battery-powered vehicles, the U.S.-Italian automaker said Friday.

Fiat Chrysler is in the process of merging with France's PSA Peugeot, which is 12 per cent owned by Chinese company Dongfeng Motor Co. Both Fiat Chrysler and Peugeot have lagged in developing electric powertrains and also have been struggling to increase sales in China, the world's biggest auto market.

It was unclear what impact Fiat Chrysler's proposed joint venture with Foxconn, formally known as Hon Hai Precision Ind. Co., Ltd., would have on the wider merger, which is expected to be completed in the next year or so.

If a deal with Foxconn is reached, a joint venture would focus first on China, the biggest market for electric cars with 1.2 million vehicles sold last year – half the global total.    [FULL  STORY]

Taiwan News
Date: 2020/01/19
By:  Central News Agency

An American brokerage has increased its target price on shares of Taiwan Semiconductor Manufacturing Co. (TSMC) to NT$402 (US$13.42) after the company's strong 2020 guidance at an investor conference Thursday.

In a research note Friday, the U.S. securities house said it was pleased by TSMC's sales forecast for 2020 and was therefore raising its target price on the stock from NT$396 to NT$402.It was the first foreign brokerage to give a target price of more than NT$400 on shares of TSMC, the world's largest chipmaker.

Citing optimism toward the growth of TSMC, the American brokerage kept its "buy" rating on TSMC shares.Meanwhile, a Japanese securities house also maintained its "buy" recommendation on the stock and its target price of NT$395.

TSMC's fundamentals are expected to remain sound, with its compound annual sales growth over the next five years estimated at almost 10 percent, but its shipments might be affected by continued U.S. sanctions against Chinese telecom equipment giant Huawei Technologies Inc., one of TSMC's biggest clients, the Japanese brokerage said.    [FULL  STORY]

Focus Taiwan
Date: 01/18/2020
By: Pan Tzu-yu and Frances Huang

Taipei, Jan. 18 (CNA) Yuan deposits held by Taiwanese banks dropped sharply last year to 261.03 billion yuan (US$38.05 billion), as investor confidence in the currency fell due to the trade frictions between the United States and China, according to Taiwan's central bank.

The decline of 37.41 billion yuan from the previous year was the biggest annual drop since the business started in Taiwan in 2013 and the third consecutive year of decline, the central bank said.

Yuan deposits in Taiwan banks were 261.03 billion yuan in 2019, compared with 298.44 billion yuan at the end of the previous year, the data showed.

The central bank said the sharp year-on-year decline reflected caution among investors about the value of the Chinese currency amid the Washington-Beijing trade disputes, an economic slowdown in China, and a slower pace of the efforts by Chinese authorities to internationalize the yuan.    [FULL  STORY]