Officials from India’s Department for Promotion of Industry and Internal Trade (DPIIT) of the Ministry of Commerce and Industry, and the Ministry of Electronics and Information Technology (MeitY) introduced three main schemes in place for India’s electronics industry.
As economies across the world grapple with the aftermath of COVID19 outbreak, Taiwan’s response to the pandemic has been outstanding. Though the country is bracing for a temporary slump in its economy, the Taiwan Government is working out effective strategies to revive its economy.
Taiwan has moved up five places from last year to 11th in the latest annual world competitiveness ranking released by the International Institute for Management Development (IMD) on Tuesday. It was Taiwan's best performance in the last four years after ranking 14th in both 2016 and 2017, 17th in 2018, and 16th in 2019, and the first time it was ranked as high as 11th since the 2015 rankings. Taiwan also remained the third most competitive economy in Asia in the 2020 rankings, behind Singap
Taiwan issued 240 employment gold cards to foreign professionals in the first five months of this year, an increase of 77.8 percent from a year earlier, according to the National Development Council (NDC) Tuesday.
Taiwan's exports in May fell for the third consecutive month amid lower demand from overseas economies throttled by the COVID-19 pandemic, the Ministry of Finance (MOF) reported on Monday.
Taiwan retained its position as having the fourth largest foreign exchange reserves in the world at the end of May, as forex reserves hit a record high, according to the central bank. Data compiled by the central bank showed Taiwan's forex reserves as of May totaled US$484.52 billion, up US$2.73 billion from a month earlier, helping the country retain its position as having the fourth largest forex assets in the world.
Given the China-US trade war continues due to the pandemic outbreak, many businesses understood the importance of diversifying market risks and expanding to the New Southbound market that sees demographic dividend.
Singapore-based DBS Bank on Wednesday retained its forecast of a 1 percent contraction of Taiwan's gross domestic product (GDP) in 2020, citing the impact of the COVID-19 pandemic. In a statement, DBS said Taiwan's economic development in the second half of the year is likely to remain under the shadow of a deteriorating job market, in which the number of furloughed workers has been increasing, and amid rising tensions between the United States and China.
A joint petrochemical complex planned by Taiwan's state-owned oil company CPC Corp. and its Indonesian partner PT Pertamina will be located in Balongan, West Java, Sindonews reported Friday. The Indonesian news media cited Airlangga Hartarto, Indonesia's Coordinating Minister for Economic Affairs, as saying the state-run Indonesian oil and gas company, and Taiwan's CPC have entered into the final stage of talks about the investment.
Taiwan is looking forward to enhance closer trade and economic ties with India in the post-COVID-19 pandemic era, the country's top envoy to the South Asian country said during a recent interview. In the interview published by eGov Magazine Friday, Tien Chung-kwang (田中光) shared his views on Taiwan's economic outlook and its economic prospects with India.