Officials from Asean members attended the first Taiwan-Asean Strategic Investment Partnership Forum on Wednesday to discuss opportunities that Taiwanese investors may have and offer some suggestions.
Vice Economic Affairs Minister Wang Mei-hua welcomed the representatives, promising that the government would enhance economic and trade relations with Asean members in various aspects, such as investment, trade and industrial collaboration to further the “New Southbound Policy”.
The head of the New Southbound Policy Office, James Huang, suggested that Taiwan develop strategic alliances with Asean members in his speech.
He said that, as a single entity, Asean is the seventh largest economy, and that each Asean member’s annual economic growth ranged from 5-7 per cent.
During the forum’s panel discussion, investment promotion representatives from Indonesia, Thailand, the Philippines, Vietnam, Malaysia and Singapore talked about opportunities offered by their countries that Taiwanese investors may be interested in, and expressed interest in more cooperation with Taiwan.
Felicitas Agoncillo-Reyes, assistant secretary for the Philippine Board of Investments’ Investments Promotion Department, noted that the Philippines didn’t have an ageing society issue, unlike many other countries.
Her country has a considerable young labour force that is educated and fluent in English.
The new Philippines president’s policy and Taiwan’s “New Southbound Policy” can complement each other, she said.
General Director of Vietnam’s Foreign Investment Agency Do Nhat Hoang said the large, young labour force in his country meant high level of competitiveness.
He expects the relationship between Taiwan and his country to become closer because of the similar cultures and inter-marriage between the two countries.
Most officials in attendance suggested that Taiwanese investors respect each Asean country’s individuality.