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TAEF BRIEF
March 15, 2024
No. 129 |
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CONTENT
-TAEF Updates
-TAEF Media Gallery
-TAEF Commentaries
-New Southbound Policy News
-Regional Headlines |
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Taiwan's Asia Exchange Foundation held a successful joint meeting with the Asia New Zealand Foundation (ANZF). |
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March 05, 2024
In a groundbreaking convergence of minds, Taiwan Asia-Exchange Foundation's (TAEF) CEO, Dr. Alan Hao Yang, successfully organized the first joint meeting with the Asia New Zealand Foundation (ANZF) on March 05, 2024. During the first joint meeting, Dr. Yang discussed an overview of TAEF's key programs and reports including the 2023 Yushan Forum the New Southbound Policy, Regional Think Tank Collaboration, and Natural Disaster Preparedness. Dr. Yang also expressed his interest in collaborating with fellow think tanks and other organizations to tackle several issues, including the Asia Engagement Consortium and the Asia Resilience Consortium.
One of the Board of Trustees of ANZF, Pulotu Tupe Solomon-Tanoa'i, expressed her delight in observing the similarities of TAEF and ANZF in terms of the programs and opportunities for the young leaders in various sectors, including film festivals, art, and leaders network. Both parties concluded that there are broad opportunities for TAEF and ANZF to collaborate and expand their understanding of Taiwan's current situation internationally and domestically.
Fueling the dialogue, TAEF Chairman, Dr. Hsiao, also discussed the 23-year longitudinal study on how the New Zealand people view the region and how Taiwan's profile has grown over the past five years in New Zealand. Moreover, Chairman Hsiao also noted that one of the goals of the New Southbound Policy is to integrate Taiwan's experience into a broader Pan-Asian identity. To conclude the joint meeting, TAEF's Chairman Hsiao and Board of Trustee Solomon-Tanaoa'i of ANZF agreed to work on the MOU proposal to enhance their collaboration. |
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2023 Yushan Forum
🏔️ | Highlights | 2023玉山論壇精華集錦 (一) |
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Check out the highlights of the 2023 Yushan Forum last October 2023!
The Yushan Forum serves as the forefront of dialogue and discussions on international relations in the Indo-Pacific region. The 2023 Yushan Forum: Asian Dialogue for Innovation and Progress is an Asian Regional dialogue initiated by Taiwan to expand the multifaceted opportunities for cooperation and exchange of ideas, talent, social initiatives, and technologies. The forum is one of the initiatives that seeks to enhance Taiwan’s partnerships with its New Southbound Policy partner countries.
This 2023, the Yushan Forum was attended by high-level officials from Taiwan and across the world, including:
- H.E. President Tsai Ing-wen of the R.O.C. (Taiwan);
- H.E. Vice President Lai Ching-Te of the R.O.C. (Taiwan);
- H.E. Russ Joseph Kun, President of the Republic of Nauru;
- The Hon. Scott Morrison MP, Member of the House of Representatives, Australia, and the 30th Australian Prime Minister;
- Kelly Craft, the 30th U.S. Permanent Representative to the United Nations, U.S.A.
- Matt Murray, United States Senior Official for the Asia-Pacific Economic Cooperation (APEC), Department of State, U.S.A.;
- The Hon. Keiji Furuya, Chairman, Japan-ROC Diet Members’ Consultative Council; Member, the House of Representatives in the Diet, Japan; and
- Chairman of Taiwan-Asia Exchange Foundation, Chairman Hsin-Huang Michael Hsiao.
The forum consisted of eight different roundtable sessions, including dialogues on regional security, economic cooperation, and international collaboration between policy communities. The participants were given platforms to discuss how different nations can come together, exchange ideas, and seek common ground to understand the future of the Indo-Pacific.
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The Print
China is worried about low FDI. Not fixing ties with India, US, Australia will worsen it
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February 28, 2024
By: Sana Hashimi
China’s Foreign Direct Investment (FDI) fell by 11.7% this year, marking the first massive deficit in China since the late 1990s. The recent developments in China’s downward trend in foreign business engagement and investments began in the last two to three years due to several factors, including the COVID-19 pandemic and China’s insular policies.
Countries have relocated their foreign firms away from China after experiencing complex deals, regulatory challenges, economic slowdowns, and low-interest rates. A good example is Taiwan, which marks the lowest level in 20 years regarding it's outbound investments in China. This was primarily due to the increasingly strained cross-strait relations and Taiwan’s implementation of the New Southbound Policy to diversify its economic links. The article further discussed how several major powers, including the European Union and the United States, have diversified their investments and shifted towards the “friend-shoring” policy of the United States.
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NEW SOUTHBOUND POLICY NEWS |
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Focus Taiwan
New Thai envoy pitches for more Taiwanese investment in Thailand
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March 13, 2024
The new Thai representative to Taiwan, Narong Boonsatheanwong, expressed Thailand's openness to increase Taiwanese investment, particularly in electronic manufacturing and construction projects. Boonsatheanwong highlighted Thailand's strength in electronics manufacturing printed circuit board (PCB) output and acknowledged Taiwan's leadership in the semiconductor industry. He praised Taiwan's commitment to clean energy, a green economy, and digital transformation, emphasizing potential long-term benefits through collaboration. Boonsatheanwong also discussed Thailand's "Land Bridge" development project in southern Thailand, which is aimed at shortening navigation time between the Indian and Pacific oceans, and expressed interest in deepening cooperation with Taiwan in this endeavor. He underscored the importance of bilateral cooperation under Taiwan's New Southbound Policy and highlighted the strong cultural and people-to-people ties between the two nations. Boonsatheanwong expressed gratitude for Taiwan's care of Thai nationals and emphasized the significance of these ties for achieving a sustainable, mutually beneficial relationship.
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Global Outreach
The 24th Biennale of Sydney features Taiwan Spotlight Event
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March 09, 2024
The Taipei Economic and Cultural Office (TECO) in Sydney collaborates with the Biennale of Sydney to present the Taiwan Spotlight Event, inaugurated at the University of New South Wales Galleries on March 7. Barbara Moore, Executive Director of the Biennale of Sydney, highlighted this year's theme, "Ten Thousand Suns," emphasizing multiculturalism. TECO's role in connecting Taiwanese artists was underscored, announcing the participation of Idas Losin and Li Jiun-yang. David Wu Cheng-Wei, Director General of TECO in Sydney, highlighted the shared diversity between indigenous communities in Taiwan and Australia, aiming to promote Taiwan's cultural richness. The Biennale of Sydney, open from March 9 to June 10, features artists from over 50 countries, offering a platform for diverse artistic expressions. For more information, visit the Biennale's website.
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Taiwan News
Taiwan-India establish semiconductor fab in Gujarat
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March 13, 2024
Taiwan and India have embarked on a semiconductor project, part of India's "Chips for Viksit Bharat" initiative, launched by Prime Minister Narendra Modi. The project aims to advance India's semiconductor capabilities, valued at approximately 15 billion USD. The India Taipei Association (ITA) highlighted the initiative as a testament to India's commitment to technological progress. ITA Director General Manharsinh Laxmanbhai Yadav lauded the deepening of bilateral ties and emphasized the pivotal role of semiconductor partnerships in strengthening cooperation between the two countries. The project involves Tata Electronics Private Limited (TEPL) of India and Taiwan's Powerchip Semiconductor Manufacturing Corporation, establishing a semiconductor fabrication facility in Dholera, Gujarat. The facility is anticipated to create around 20,000 skilled jobs, contributing to economic growth and technological advancement in both nations and is expected to commence production of 28-nanometer chips in 2026.
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Nikkei Asia
Taiwan seeks more tourists from Indonesia
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March 09, 2024
Taiwan is expanding its focus to Indonesia as a significant source of tourists amidst declining visitors from mainland China due to political tensions and the COVID-19 pandemic. Under Taiwan's New Southbound Policy, Indonesia is among 18 targeted countries for tourism development. The Taiwan Tourism Administration will organize events and offer visa-free travel authorization for Indonesian tourists. Despite a decrease in arrivals from Indonesia in 2023 compared to pre-pandemic levels, efforts are underway to enhance the tourism experience, including catering to Muslim travelers and reopening tourism information centers. However, Indonesian preferences still lean towards destinations like Japan. Taiwan aims to diversify tourism offerings beyond traditional attractions and promote unique experiences, such as culinary and Instagram-friendly spots. Establishments like Lin Yang-fan's Owl-Workshop are eager to welcome Indonesian tourists, offering familiar comforts like coffee beans.
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CNA
Singapore to deliver third tranche of humanitarian aid for Gaza
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March 15, 2024
The Republic of Singapore Air Force (RSAF) is deploying an A330 Multi-Role Tanker Transport (MRTT) and a C-130 transport aircraft for a humanitarian mission in cooperation with the Jordanian government.
The C-130 will conduct humanitarian airdrop operations in Jordan with support from the Jordanian Armed Forces. The Singapore Armed Forces' Changi Regional Humanitarian Assistance and Disaster Relief Coordination Centre (RHCC) coordinated humanitarian aid supplies from various agencies, including the SAF, Ministry of Health, and Relief Singapore. Personnel departed on the MRTT and C-130 from Changi Air Base (East) and Paya Lebar Air Base, respectively.
Furthermore, Dr. Balakrishnan's visit to the Middle East reaffirms Singapore's strong ties and commitment to delivering humanitarian aid to Gaza.
Prime Minister Lee Hsien Loong appreciated Jordan's King Abdullah II for facilitating aid delivery to Gaza and welcomed cooperation between RSAF and the Royal Jordanian Air Force for airdrops. Singapore supports a negotiated two-state solution for the Israeli-Palestinian conflict and emphasizes the importance of international cooperation in alleviating humanitarian crises.
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Vietnam News
Vietnamese economy making dynamic shift with robust growth
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March 14, 2024
The economic shift in Vietnam, emphasizing robust growth and promising trends, predicts a stronger-looking future, according to Asian Insiders based in Hong Kong
The Vietnamese government's five-year plans are central to shaping economic development strategies, growth targets, and reforms. Significant investments in research and development have propelled Vietnam's ascent on the Global Innovation Index, attracting manufacturers like Samsung, LG, and Panasonic to establish production bases and research facilities. Vietnam's strategic geographic location with a long coastline and numerous seaports, along with infrastructure improvements and a surge in foreign direct investment (FDI), has made it an attractive destination for investors.
In 2023, Vietnam attracted 36.6 billion USD in FDI, reflecting growing confidence in its economic prospects. With China as its largest trading partner and the US as its largest export market, Vietnam's trade relations are set to expand further, bolstered by its Comprehensive Strategic Partnership with the US. Vietnam also prioritizes sustainability and digital infrastructure development, positioning itself as a leader in the green economy. Vietnam's strong GDP growth, increasing FDI, and growing middle-class will drive domestic consumption and position Vietnam for a sustained and dynamic economic growth.
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The Straits Times
Malaysia: The Surprise winner from US-China chip wars
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March 14, 2024
In the trade war between China and the United States (US), Malaysia is reaping the battle between the two great powers.
The ongoing trade tensions between China and the United States have inadvertently benefited Malaysia, positioning it as a key player in the global semiconductor industry.
As the US imposed controls on Chinese companies to limit their technological advancement, multinational corporations sought alternative manufacturing hubs, with Malaysia emerging as a favored destination due to its advanced technological infrastructure. American and Chinese companies have established manufacturing branches in Malaysia, engaging in fierce competition to attract top talent and investment. This competition has propelled Malaysia to become the largest producer of chips, boosting its power and influence in the region.
The influx of investments and technological advancements positively impacts Malaysia's GDP and unemployment rate and fosters its indigenous technological revolution. Malaysian startups entering the semiconductor market add further competition, while their expansion into China brings in more investment for the Chinese economy. Malaysia's emerging role in the global semiconductor supply chain solidifies its position as a significant player in the digital economy.
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