Preface. Fostering a High Quality Open Investment Environment, Encouraging Foreign Investment in Taiwan

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2 Preface Fostering a High Quality Open Investment Environment, Encouraging Foreign Investment in Taiwan The Taiwan government is fully committed to fostering a high quality open investment environment and encouraging foreign investment. As we continue to improve the domestic investment environment through various economic liberalization and globalization initiatives, we will push for innovative value-added industries and create new business opportunities, making Taiwan a land full of investment opportunities. Taiwan s investment environment has been recognized in the international community as one of the best. According to the most recent Business Risk Reports published by the Business Environment Risk Intelligence (BERI), Taiwan s investment environment is ranked third in the world, next only to Singapore and Switzerland, and BERI recommends investors to explore investment opportunities in Taiwan. And according to the latest World Competitiveness Report published by the World Economic Forum in September 2013, Taiwan is ranked 12 th among 148 countries, moving up one place from its 2012 ranking. The report also ranks our industrial clusters first in the world for the eighth consecutive year. Among Taiwan s many advantages that attract foreign investment are the abundance of innovative research and development skills, a strong manufacturing foundation, large scale industrial clusters, a well-educated labor force, quality infrastructure, and a beneficial geographical location. With the continuing economic liberalization between Taiwan and Mainland China, Taiwan s competitive advantage has steadily increased. There cannot be a better time to choose to invest in Taiwan as a bridge into the mainland Chinese and Asia Pacific markets. To encourage more foreign investment, our government has pushed for the establishment of Free Economic Pilot Zones, through substantial deregulation in labor, logistics, and finance. These zones aim to create a more convenient business environment. The government continues to reach out to foreign businesses to understand their needs, and through deregulation and accelerated reforms, we plan to open the market and liberalize the economy, making way for a higher quality, investorfriendly, and convenient business environment. The Taiwan Investment Guide is designed to provide foreign corporations with important information needed to invest in Taiwan. The guide looks at current investment laws and procedures, the tax system, investment incentives, the labor force, investment locations, and related basic infrastructure costs. In addition to information on the investment promotion agencies, the information from government ministries serves as an important reference for attracting foreign investment. We hope the information in the guide will help readers government agencies seeking to promote investment, as well as potential investors gain a deeper understanding and insight into Taiwan s investment environment.

3 Looking to the future, as our government continues to improve the business investment environment, strengthen innovative industries, participate in global and regional economic integration, and raise our global competitiveness, Taiwan will further secure its position as an important economic hub, innovative research center, and multinational corporate headquarters in the Asian Pacific region. Dr. Chia-Juch Chang Minister of Economic Affairs November 2013

4 Executive Summary Taiwan, the Republic of China (hereafter Taiwan ), is an investment-friendly country for foreign investors. Taiwan not only offers attractive taxation and incentives for new investment, but also has high-quality human resources, a transparent and well-developed regulatory system, as well as a robust industrial foundation. These factors combine to make Taiwan an excellent and competitive location for investors to establish operation centers, R&D centers, logistics centers or manufacturing plants. Furthermore, Taiwan has a liberalized commercial system with substantial purchasing power. It is an attractive market for foreign investors that wish to set up distribution channels, tourism/ recreation facilities or retail stores selling a variety of products and providing customer services. The Taiwan Investment Guide is designed to provide investors with important information needed for the investment in Taiwan. The Guide looks at current investment laws and procedures, the tax system, investment incentives, the labor force, investment locations, and related basic infrastructure costs. More information is available on the website of the Department of Investment Services (DOIS), Ministry of Economic Affairs at tw/, the Invest in Taiwan website at and the websites of other government authorities as noted throughout the Guide. The Ministry of Economic Affairs has engaged Deloitte & Touche to gather and organize the relevant information for the guide. We hope the Guide will help investors gain a better understanding of Taiwan's investment environment and encourage them to invest in Taiwan. All currency referred to throughout the Guide is New Taiwan dollar (NTD). For exchange rate information, please visit the website of the Central Bank of the Republic of China (Taiwan) at or the website of the Bank of Taiwan at A questionnaire is appended to this guide. If you have any comments, please forward them to the DOIS, Ministry of Economic Affairs (Fax: ).

5 Catalogue Chapter I Economic Overview and Investment Advantages Foreword I - 01 Section I Economic Overview I - 01 Section II Investment Advantages I - 07 Chapter II Application Procedures for Investment Foreword II - 01 Section I Profit-Seeking Business Entity II - 01 Section II Foreign and Overseas Chinese Investment Approval II - 04 Section III Foreign Investment Protection II - 05 Section IV Registration for Setting Up a Business Entity II - 08 Section V Application Procedures for Setting Up a Factory in a Science Park or in an EPZ II - 11 Section VI Information and Documents Required to Register a Business Entity II - 13 Section VII Information and Documents Required to Register an Importer/Exporter II - 17 Section VIII Information and Documents Required to Register a Factory II - 18 Section IX Information and Documents Required to Set Up a Representative Office II - 19 Section X Foreign Exchange Matters II - 21 Section XI Investment Structure Considerations II - 23 Website Information II - 26 Chapter III Taxation Foreword III - 01 Section I Overview of the Tax System III - 02 Section II Profit-Seeking Enterprise Income Tax III - 03 Section III Anti-Avoidance Rules III - 09 Section IV Withholding Tax III - 14 Section V Tax Treaties III - 15 Section VI Individual Income Tax III - 17 Section VII Securities Transaction Income Tax III - 22 Section VIII Business Tax III - 23 Section IX Customs Duties and Free Trade Agreements III - 30 Section X Other Taxes III - 35 Website Information III - 49

6 Chapter IV Investment Incentives Foreword IV - 01 Section I Tax Incentives IV - 01 Section II Incentives for Special Zones IV - 07 Section III Private Investment in Infrastructure IV - 13 Section IV Industrial Tech Development Program IV - 19 Section V Land Incentives IV - 22 Section VI Low-Interest Loans IV - 26 Section VII Government Participation IV - 29 Website Information IV - 32 Chapter V Human Resources Foreword V - 01 Section I Human Resources and Compensation V - 02 Section II Industrial Relations V - 09 Section III Statutory Requirements V - 12 Section IV Rules Governing Employment of Foreign and Mainland Area Professionals V - 25 Section V Employment of Foreigners V - 29 Website Information V - 30 Chapter VI Introduction to the Investment Area Foreword VI - 01 Section I Overview of the Environment, General Real Estate, and Industrial Area VI - 01 Section II Northern Region VI - 13 Section III Central Region VI - 33 Section IV Southern Region VI - 46 Section V Eastern Region VI - 62 Section VI The Outlying Islands VI - 68 Website Information VI - 69 Chapter VII Infrastructure Expenses Foreword VII - 01 Section I Utility Expenses VII - 01 Section II Environmental Protection Expenses VII - 13 Section III Telecommunications Expenses VII - 15 Section IV Transportation Expenses VII - 19 Website Information VII - 27

7 TABLES Table 1-1 Major Economic Indicators I - 02 Table 1-2 Comparison of Economic Growth Rate of Select Countries and Regions I - 02 Table 1-3 Five-Year Key Economic Indicators I - 02 Table 1-4 Six New Growth Industries and Advantages I - 03 Table 1-5 Key Service Sectors and Advantages I - 04 Table 1-6 Four New Growth Intelligent Industries and Advantages I - 05 Table 1-7 List of MNCs That Have Invested in Taiwan I - 13 Table 2-1 Comparison Table II - 02 Table 2-2 Countries That Have Signed PRPI Agreements with Taiwan II - 06 Table 3-1 Minimum Taxable Income, Tax Brackets, and Tax Rates for Profit-Seeking Enterprise Income Tax III - 03 Table 3-2 Sample Calculation of Income Tax III - 06 Table 3-3 Arm s-length Methodologies III - 11 Table 3-4 Withholding Tax Rates III - 14 Table 3-5 Rates of Withholding Tax under Tax Treaties III - 15 Table 3-6 List of International Transportation Income Tax Agreements III - 16 Table 3-7 Standard Deduction for FY2013 Individual Income Tax III - 18 Table 3-8 FY2013 Progressive Tax Rates of Individual Income Tax III - 19 Table 3-9 Sample Calculation of Individual Income Tax III - 20 Table 3-10 Securities Transaction Income Tax for Profit-Seeking Enterprises III - 22 Table 3-11 Securities Transaction Income Tax for Individuals III - 22 Table 3-12 Types of GUI III - 24 Table 3-13 Non-VAT Rate III - 25 Table 3-14 Scope of Taxation and Taxpayers under Commodity Tax III - 35 Table 3-15 Taxable Commodities, Tax Rates and Tax Amounts III - 35 Table 3-16 Securities Transaction Tax Collecting Agent III - 37 Table 3-17 Stamp Tax Rates or Tax Amounts III - 38 Table 3-18 Tax Rates or Tax Amount of Specifically Selected Goods and Services Tax III - 40 Table 3-19 Progressive Rates and Special Rates of Land Value Tax III - 42 Table 3-20 Tax Rate of Building Tax III - 47 Table 3-21 Deed Tax Rates III - 48 Table 4-1 Applicable Customs Import Tariff Chapters for Customs Duty Exemption for Products Not Manufactured Locally IV - 05 Table 4-2 Preferential Price for 767 Program IV - 23 Table 4-3 Market Price Discounts for Land Zoned within Industrial Parks IV - 24 Table 4-4 National Development Fund Table IV - 26

8 Table Number of Employed, Average Working Hours, Employment Turnover,Minimum Wage, and Average Salary in Industrial and Service V - 03 Sectors Table 5-2 Six Major Industries and Their Sub-industries V - 05 Table 5-3 Employees Monthly Average Regular Wage by Levels in Six Major Industries in 2012 V - 06 Table 5-4 Average Wages in Six Major Foreign Investment Industries from 2003 to 2012 V - 06 Table 5-5 Annual Leave Days V - 17 Table 5-6 Bereavement Leave Days V - 19 Table 5-7 Government, Employer, and Employee Contribution Rate for LI Premium, NHI Premium, and Labor Pension Fund V - 22 Table 5-8 Applicable Countries and Duration of Visa-Exempt Entry V - 26 Table 5-9 Applicable Countries and Duration of Landing Visa V - 26 Table 5-10 Applicable Countries and Duration of Visitor Visa V - 26 Table 5-11 Applicable Countries and Duration of Resident Visa V - 27 Table 5-12 Application Information for ARC V - 27 Table 5-13 Application Information for APRC V - 27 Table 6-1 Economic Indicators VI - 02 Table 6-2 Notarization Fees VI - 05 Table 6-3 EPZ Summary VI - 08 Table 6-4 Summary of Science Parks VI - 09 Table 6-5 Summary of the Approved and Operating FTZs VI - 11 Table 6-6 Overview of the Agricultural Technology Parks VI - 12 Table 6-7 Taipei City Office Tenant Characteristics VI - 27 Table 6-8 Rent and Sales Price of Taipei City Office Buildings VI - 27 Table 6-9 Summary of Neihu Technology Park VI - 27 Table 6-10 Summary of Nangang Software Park VI - 28 Table 6-11 Location, Rent and Sales Price of New Taipei City Office Buildings VI - 28 Table 6-12 Location, Rent and Sales Price of Office Buildings in Other Cities in the Northern Region VI - 29 Table 6-13 Market Price of Industrial Land in the Northern Region VI - 32 Table 6-14 Location, Rent, and Sales Price of Office Buildings in the Central Region VI - 42 Table 6-15 Market Price of Industrial Land in the Central Region VI - 45 Table 6-16 Location, Rent, and Sales Price of Office Buildings in the Southern Region VI - 57 Table 6-17 Market Prices of Industrial Land in the Southern Region VI - 61 Table 6-18 Location, Rent, and Sales Price of Office Buildings in the Eastern Region VI - 66 Table 6-19 Market Price of Industrial Land in the Eastern Region VI - 67

9 Table 7-1 Basic Water Charge Tariff VII - 02 Table 7-2 Progressive Charging Schedule Based on Consumption (per month/per user) VII - 02 Table 7-3 Pumping Facility Maintenance Charge VII - 03 Table 7-4 Basic Water Charge Tariff VII - 04 Table 7-5 Progressive Charging Schedule Based on Consumption VII - 04 Table 7-6 Unit Price Verified by Environmental Protection Authorities for Waste Disposal Charge VII - 05 Table 7-7 Types and Applicability of Electricity Rates VII - 06 Table 7-8 Non-TOU Rate for Meter Rate Lighting VII - 06 Table 7-9 TOU Rate for Meter Rate Lighting VII - 07 Table 7-10 Non-TOU Rate VII - 07 Table 7-11 TOU Rate VII - 08 Table 7-12 Two-Period Rate for High Tension and Extra High Tension Service VII - 09 Table 7-13 Three-Period Rate for High Tension and Extra High Tension Service (Fixed Peak Period) VII - 10 Table 7-14 Three-Period Rate for High Tension and Extra High Tension Service (Mobile Peak Period) VII - 11 Table 7-15 Price of Oil and Gas VII - 12 Table 7-16 Domestic Phone Communication Charges VII - 16 Table 7-17 Mobile Phone Communication Charges VII - 16 Table 7-18 Price List for Broadband Internet Access via Fiber Services VII - 17 Table International Call Charges VII - 18 Table 7-20 Minimum Charges for Truck-Loaded Shipping VII - 19 Table 7-21 Cargo Costs and Incidentals Summary VII - 19 Table 7-22 Average Domestic Freight Prices (Place of Departure: Taipei) VII - 20 Table 7-23 Container Transportation Cost (Destination: Keelung Port) VII - 20 Table 7-24 Container Transportation Cost (Destination: Taichung Port) VII - 20 Table 7-25 Container Transportation Cost (Destination: Kaohsiung Port) VII - 21 Table 7-26 International Container Shipping Costs (From Keelung Port) VII - 21 Table 7-27 International Container Shipping Costs (From Taichung Port) VII - 22 Table 7-28 International Container Shipping Costs (From Kaohsiung) VII - 22 Table 7-29 Price List for Air Freight VII - 23 Table 7-30 Registered Logistic Centers in Taiwan VII - 24 Table 7-31 Services Performed by Logistics Centers VII - 25 Table 7-32 Typical Charges for Logistics Warehouses VII - 26

10 CHARTS Chart 2-1 Setting up a Company (Limited Company and Company Limited by Shares) II - 09 Chart 2-2 Setting up a Branch of a Foreign Company II - 10 Chart 2-3 Procedures to Set Up a Representative Office II - 19 Chart 4-1 Free Trade Zone Sites IV - 09 Chart 4-2 Participation by Establishing a Project Company IV - 14 Chart 4-3 Participation through an Existing Company IV - 15 Chart 4-4 Unsolicited Proposals with Government-Owned Land IV - 16 Chart Education Levels of the Labor Force V - 03 Chart 5-2 Number of Students Graduating in 2011 with Degrees from the Top 20 Colleges V - 04 Chart 6-1 Administrative Region VI - 02 Chart 6-2 Cities and Counties in the Northern Region VI - 13 Chart 6-3 Office Buildings by District in Taipei City VI - 26 Chart 6-4 Cities and Counties in the Central Region VI - 33 Chart 6-5 Cities and Counties in the Southern Region VI - 46 Chart 6-6 Counties in the Eastern Region VI - 62

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12 Chapter I Economic Overview and Investment Advantages

13 Chapter I Economic Overview and Investment Advantages Catalogue Chapter I Economic Overview and Investment Advantages I - 01 Foreword I - 01 Section I Economic Overview I - 01 a. Economy Briefing I - 01 b. Vision for Development and Key Industries I - 03 c. International Trade Relations I - 05 Section II Investment Advantages I - 07 a. Highly Trained and Abundant Labor Force I - 07 b. Well-Developed Infrastructure I - 07 c. Excellent Location and Living Environment I - 08 d. Strong R&D Environment I - 08 e. Economic Freedom I - 09 f. Established Rule of Law and Intellectual Property Protection I - 11 g. Investment Incentives I - 11

14 TABLES Table 1-1 Major Economic Indicators I - 02 Table 1-2 Comparison of Economic Growth Rate of Select Countries and Regions I - 02 Table 1-3 Five-Year Key Economic Indicators I - 02 Table 1-4 Six New Growth Industries and Advantages I - 03 Table 1-5 Key Service Sectors and Advantages I - 04 Table 1-6 Four New Growth Intelligent Industries and Advantages I - 05 Table 1-7 List of MNCs That Have Invested in Taiwan I - 13

15 Chapter I Economic Overview and Investment Advantages Chapter I Economic Overview and Investment Advantages Foreword Taiwan is located in the Southeastern area of Asia, with China across the Taiwan Strait to the West, Japan and the Ryuku Islands to the North, and the Philippine Islands to the South. Taiwan is connected with Tokyo and Seoul to the north, Shanghai to the west, and Hong Kong, Singapore, and all the Association of Southeast Asian Nations (ASEAN) capitals to the south. Taiwan is an important logistics hub in Asia; it is an important bridge between Europe, the US, Japan, and the emerging markets in the Asia Pacific region, and a top destination for multinational corporations wishing to establish Asia Pacific headquarters. The focus of the global economy is shifting from the West to the East, with a particular market focus on China, India, and other Asia Pacific countries. Taiwan has the distinct advantage of geographical proximity and the absence of cultural and language barriers in the Chinese market. Through Taiwan s direct cross-strait transportation to Mainland China, cross-strait economic cooperation agreements, service sector trade agreements, and other economic and trade ties, Taiwan can be considered an important gateway to the Chinese mainland market for multinational corporations. The following sections profiles Taiwan s economic development, its vision for the development of key industries, and details foreign trade, economic relations, and investment advantages. Section I Economic Overview a. Economy Briefing In 2012, the Taiwan population was million and its per capita GDP was USD 20,386, with per capita income of USD 17,738. Taiwan held foreign exchange reserves of USD billion. The 2012 annual economic growth rate was 1.3%. According to Directorate-General of Budget, Accounting and Statistics, Executive Yuan, in 2012, the total annual foreign trade amounted to USD billion, with an export value of USD billion and an import value of USD billion, and the trade surplus was USD I - 01

16 Taiwan Investment Guide 30.7 billion. Electronics and electric products comprised the majority of exports, followed by basic metals and metal products, and then plastics, rubber, and their products. Machine tools comprised the majority of imports, followed by mineral products, and then industrial chemicals. Table 1 1 Major Economic Indicators Land Area Approximately 36,193 km 2 Population million Government Liberal Democracy Currency New Taiwan Dollar (NT$ or NTD) Time Zone UTC+8 (no daylight savings time) Capital Taipei Major Industries Electronics, petroleum refining, equipment, chemicals, textiles, steel, machinery GDP per Capita USD 20,386 Income per Capita USD 17,738 Foreign Exchange Reserves USD billion Total Trade Value USD billion Import Value USD billion Export Value USD billion Total Capital 1 USD billion Capital Market Value 2 USD billion Sources: Directorate-General of Budget, Accounting and Statistics, Department of Investment Services MOEA, Taiwan Stock Exchange, as of December Total Capital = Number of listed companies x outstanding shares x 10 TWD per share 2 Capital Market Value = Number of listed companies x outstanding shares x market price of shares Table 1 2 Comparison of Economic Growth Rate of Select Countries and Regions Unit: % Countries / Regions 2013 (Forecast) Taiwan Mainland China Hong Kong Singapore South Korea Japan United States United Kingdom France Source: Directorate-General of Budget, Accounting and Statistics, June 2013 Table 1 3 Five Year Key Economic Indicators Unit: % Indicators 2013 (Forecast) Economic Growth Rate GNP per Capita (USD) 21,254 21,042 20,574 19,090 16,901 Private Consumption Growth Rate Private Fixed Investment Growth Rate Consumer Price Index Annual Rate 1.13 (Jan.-July 2013) Source: Directorate-General of Budget, Accounting and Statistics, August 2013 I - 02

17 Chapter I Economic Overview and Investment Advantages b. Vision for Development and Key Industries To accelerate Taiwan s industrial transformation and restructuring, and to develop key technological advantages, the Executive Yuan informed the MOEA that the Plan for Four Optimizations of Three Industries and the Industrial Development Policy through 2020 will be to Innovate the Economy, Activate and Energize Taiwan with a view to achieving three goals: Full Scale Upgrade and Specialization of Traditional Industries, Promotion of Accelerated Growth in New Industries, and the Development of Manufacturing Services and International and Technological Services. This will ultimately enhance the global competitiveness of Taiwan. i. Six New Growth Industries Building on the Two Trillion Twin Star policy that promotes Taiwan s semiconductor, display, digital content, and bio-tech industries, the Executive Yuan launched a program in 2009 targeting Six New Growth Industries. As part of this initiative, the government will take the lead in fostering industrial development and investment, with a view to expanding the scale of industrial activity, increasing production, and adding value. Table 1 4 Six New Growth Industries and Advantages Bio-Tech Industries Medical Healthcare Cultural & Creative Tourism Green Energy Refined Agriculture Advantages of Taiwan Availability of abundant high technology Availability of high-level tech talent, capable of accommodating fluctuations in consumer demand for the development of components Ranked in the top 30 countries globally in health care infrastructure by the International Institute for Management Development s World Competitiveness Yearbook 2013 Availability of innovative and extensive home care products for the elderly Ability to partner with multinationals in developing telecare services in Asia Open and thriving cultural environment and abundant creative talent Excellent technological infrastructure provides a platform for innovative cultural and creative endeavors Increasing demand for cultural and creative services Direct transportation linking major cities in Taiwan and Mainland China will help Taiwan become an East Asia tourist destination. Potential for development of international tourism Revitalized economic growth as a result of local tourism Abundance of natural and cultural resources Strong IT industry, experience in production and management Sufficient energy and human resources to further develop traditional manufacturing, mechanical product, metal, composite material, and electronic control industries Semiconductors, thin film flat-panel displays, and availability of high-tech personnel facilitate development of green energy industries Focus on health and safety aspects of agricultural products Refined agriculture aims to focus on agriculture that can facilitate eco-tourism Rapid changes in production and sales structure New technological advances, such as breakthroughs in biotechnology and protection of the environment Source: Council for Economic Planning and Development, Executive Yuan, July 2013 I - 03

18 Taiwan Investment Guide ii. Key Service Sectors According to the Council for Economic Planning and Development, Executive Yuan, in 2012, Taiwanese services as a whole contributed about NTD 9.6 trillion, accounting for 69.2% of the total GDP. The average employment was about 6.38 million, accounting for 58.8% of total employment. This data shows that service industries have become Taiwan s main source of economic activity. The government is actively promoting investment and improvements in export competitiveness, with a focus on gourmet food, medical care, music and digital content, Chinese e-commerce, international logistics, conferences and exhibitions, and a fund-raising platform for hi-tech and innovative firms. Table 1 5 Key Service Sectors and Advantages Service Industry Promotion of gourmet food International medical care Music and digital content Chinese e-commerce International logistics Conferences and Exhibitions Fund-raising platform for hi-tech and innovative firms Advantages of Taiwan Ability to cater to market demand quickly Established international brand channels, unlimited potential for future development First-class medical facilities, state of the art medical equipment and medical care technology, patient-oriented services, and competitive pricing Advantageous geographical location in an important economic hub in Asia Normalization of economic and trade relations across the Taiwan Strait will attract mainland medical tourists, who recognize the quality of services in Taiwan and therefore come to Taiwan for medical treatment Top five in the global music market in Asia, Leader in the Chinese music industry and Taiwan Mandarin pop music development Ability to attract Chinese singers to come to Taiwan democracy B2C and C2C e-commerce in recent years have grown more than 20% annually, with strong potential for further development Innovative operations, communications technology capacity, and a cultural connotation of the Chinese lifestyle Excellent port facilities and transportation links with neighboring countries and regions Geographical location Global logistics layout, efficient integration of logistics services market with global market Geographically located in the East Asian island arc, the center point of the Asia-Pacific region, and in the middle of the five major ports and cities of the Pacific range Many industries, such as information, communications, semiconductors, machine tools and bicycles, are important for the development of international exhibitions As a global technology center, Taiwan has a strong technology industry chain, which forms a cluster effect (electronics companies accounted for 49.69% of companies listed on the Taiwan stock exchange and also account for 64.6% of turnover value) High degree of internationalization of capital markets, strong foundation of financial funding services Geographical location Source: Council for Economic Planning and Development, Executive Yuan, July 2013 I - 04

19 Chapter I Economic Overview and Investment Advantages iii. Four New Growth Intelligent Industries Taiwan has been a leader in the software and ICT sector for nearly 30 years. Understanding the need for smart products in the highly competitive technology sector, Taiwan is actively promoting four intellectual industries: cloud computing, intelligent electric vehicles, commercialization of patents, and eco-friendly architecture/construction. These efforts will result in more innovative development capabilities, enhance strategic development, accelerate the commercialization of inventions and patents, create foundations to consolidate the industry, and create a new era of prosperity. Table 1 6 Four New Growth Intelligent Industries and Advantages Industry Cloud computing Intelligent electric vehicles Commercialization of patents Eco-friendly architecture/construction Advantages of Taiwan Taiwan is already a major server hardware and device-producer, with cloud data center servers, storage and networking facilities. Taiwan has the ability to manufacture all of the above independently, and at a reasonable cost The government is actively promoting the development of the cloud computing industry Taiwan has an abundant supply of highly skilled IT personnel Taiwan is a global leader in the ICT industry with success in information, communications, semiconductor, and optoelectronic products This industry has massive growth potential in Taiwan Taiwan s terrain, population density, proximity between cities, and welldeveloped transportation system are conducive to the development of intelligent electric vehicles Government science and technology project research results are abundant The government actively promotes R&D and the industrialization of research achievements The MOEA has created the "Taiwan technology trade information network" and service centers to promote partnerships and technology transfers The MOEA has established a "business advisory network" platform for businesses to share information and provide companies with complete information about intellectual property (IP) protection The government is actively promoting investment in this area Source: Council for Economic Planning and Development, Executive Yuan, July 2013 c. International Trade Relations Taiwan is a member of the World Trade Organization (WTO), the Asia-Pacific Economic Cooperation (APEC), the Asian Development Bank, and various other international organizations. Taiwan has economic and trade exchanges with more than 140 countries, including 31 countries that have signed investment agreements with Taiwan. Diversity of foreign economic and trade relations is necessary to participate in international economic and trade organizations and to conclude bilateral trade agreements. The following exemplifies Taiwan s efforts to position itself on the global economic and trade stage: 1991 Became a member state of Asia-Pacific Economic Cooperation (APEC) 1994 Signed a trade and investment framework agreement (TIFA) with the US 2002 Joined the World Trade Organization (WTO) I - 05

20 Taiwan Investment Guide 2002 Became an observer on the OECD Competition Committee. Also became an observer on the OECD Steel Committee in 2005, and on the OECD Fishery Committee in Signed free trade agreements (FTA) with El Salvador, Guatemala, Honduras, Nicaragua, and Panama 2010 Signed a cross-strait economic cooperation framework agreement with Mainland China (ECFA) 2011 Signed an investment agreement with Japan 2012 Signed a bilateral investment protection and promotion agreement with Mainland China 2013 Signed a cross-strait agreement on trade in services with Mainland China 2013 Signed an economic cooperation agreement with New Zealand (ANZTEC) The investment agreement with Japan, the Arrangement between the Association of East Asian Relations and the Interchange Association for Mutual Cooperation on the Liberalization, Promotion and Protection of Investment, aims to enhance bilateral economic and trading relations and increase opportunities for Japanese and Taiwanese companies to invest. Taiwan signed a cross-strait agreement on trade in services with Mainland China in June 2013 that is designed to ensure fairness and transparency in service sector trade and to further strengthen the rights of investors. Once in effect, the agreement will provide for a lower market threshold for service providers, reduce tariff between Taiwan and Mainland China and open sectors on both sides. The agreement is an extension of the 2010 ECFA, which facilitated better communication in the cross-strait service sector. With Taiwan s services sector now constituting 69% of GDP, Taiwan s strength can help other companies develop the vast Mainland China market, and help them exploit opportunities in other national markets. Foreign companies in Taiwan that qualify under the service sector trade agreement also will be able to reap the benefits of the pact. The ANZTEC with New Zealand is Taiwan s first economic cooperation agreement with a developed country. The signing of the ANZTEC marks Taiwan s move towards regional consolidation, and the goal to connect with the rest of Asia and the world, as well as the possibility for Taiwan to participate in the Trans-Pacific Strategic Economic Partnership (TPP). Taiwan has reached a tentative agreement with Singapore and the Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu on an Economic Partnership (ASTEP). Singapore is a member of the TPP and the Regional Comprehensive Economic Partnership (RCEP), which demonstrates its high standards of economic liberalization. Taiwan has a long and close economic and trade relationship with Singapore, and if this trade agreement is signed, an even better partnership will be established. Considered in their entirety, the above agreements and potential agreements offer foreign investment opportunities in Taiwan and enhance Taiwan s global profile. I - 06

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