Taiwan’s gross domestic product grew 4.94 percent in the fourth quarter of 2020, 1.66 percent above the November forecast, according to the Cabinet-level Directorate-General of Budget, Accounting and Statistics Jan. 29.
Taiwan’s gross domestic product grew 4.94 percent in the fourth quarter of 2020, 1.66 percent above the November forecast, according to the Cabinet-level Directorate-General of Budget, Accounting and Statistics Jan. 29.
In response to the government’s cloud policy, the Customs Administration of the Ministry of Finance launched a four-year plan starting in 2021 called “Smart Customs in the Cloud Era”, which aims to expand the government’s cloud utilization.
Confidence levels on the business climate for the year ahead has reached a record high among U.S. companies in Taiwan, despite severe challenges faced by markets around the world due to the COVID-19 pandemic.
The Ministry of Finance stated that last year the Ministry completed its first provision to and received from Japan and Australia financial account information with respect to 2019.
The first LNG cargo from the 25-year LNG SPA between CPC Corporation, Taiwan (“CPC”) and Cheniere Energy (“Cheniere”), the largest exporter of US LNG, has arrived in Taiwan today (10/01/2021) on the Fuji LNG vessel for discharging at the Taichung LNG Terminal. Under the SPA, which was signed back in August 11th, 2018, Cheniere will supply 2 mtpa of LNG (approximately 30 shipments annually) to CPC starting 2021 to 2045.
The 25th Taiwan-Australia Joint Energy and Minerals, Trade and Investment Cooperation Consultations (JEMTIC) was held via video-conferencing in the morning on November 12, 2020.
The industries of mainland China and Taiwan have long-established supply chain relations, and mainland China now relies heavily on Taiwan’s semiconductors and information communication products.
To expand business opportunities with new emerging markets and facilitate Taiwan’s economic exchanges and cooperation with ASEAN countries, the Bureau of Foreign Trade (BOFT) continues to subsidize the Taipei Computer Association (TCA) in implementing the “Taiwan-ASEAN Smart Industry Cooperation Plan.” Since 2014, the TCA has carried out the plan in Myanmar, and to further facilitate more business opportunities, this plan was expanded to include Singapore in 2019.
Taiwan’s gross domestic product is forecast to increase by between 3.8 and 4.2 percent in 2021 on the back of successful management of the COVID-19 pandemic and a growing local economy, according to the National Development Council.
Taiwan retained its third spot ranking among 50 major economies surveyed in the latest Profit Opportunity Recommendation report by U.S.-based Business Environment Risk Intelligence SA.
