Source: United Daily News
Date: May 27, 2016
Coordinating private sector efforts in developing opportunities for Taiwan firms in emerging markets
throughout Southeast Asia and beyond is a top priority for the government, according to James C. F. Huang, head of the New Southbound Policy Office under the Presidential Office May 27.
“The New Southbound Policy has three prongs: new range, new direction and new support,” Huang said. “Taiwan must start eyeing markets in the 10 Association of Southeast Asian Nations member economies and beyond.”
Under new range, the New Southbound Policy extends to six South Asian countries: Bangladesh, Bhutan, India, Nepal, Pakistan and Sri Lanka. New direction encompasses inbound investment and tourism, as well as educational exchanges. And new support involves viewing Southeast and South Asia as more than just a base for manufacturing, but an extension of Taiwan’s domestic demand to support growth.
According to Huang, business opportunities related to infrastructure construction in ASEAN economies are estimated to reach US$1 trillion by 2020. Taiwan enterprises can look to tap robust demand, capitalizing on its strengths in power generation, sewage treatment, telecommunications and transport engineering, he said. [FULL STORY]