Happy Monday and happy World Brain Day! Today, we celebrate the incredible power of our brains, especially at work. Did you know that staying mentally active and engaged at work can improve cognitive function and boost overall productivity? So, let's give our brains the exercise they need to keep us sharp and efficient!

We are approaching the end of July and that means it is time for another round of our “GTO Quick Facts”. The latest installment in our series features a half-year report on Taiwan's economic data. This edition highlights Taiwan's remarkable economic growth and positive trends in the first half of 2024. Curious about the impressive statistics? Check out the full report in our Top News!

Final call: The deadline for our delegation trip to Taiwan for German companies in the solar energy industry is this Friday! From September 23 – 27 join us for a five-day journey including a conference, company presentations and individual B2B meetings where you get to meet potential Taiwanese partners. Register now by clicking the link in our Top News.

Speaking of delegation trips, we are excited to announce an upcoming delegation trip to Taiwan for German companies in the manufacturing sector. From October 21–25, we will introduce you to Taiwan's cutting-edge Industry 4.0, including the smart manufacturing sector. Taiwan's landscape boasts world-leading fields such as semiconductors and electronics. This is s an unmissable opportunity for German companies. Sign up now through our GTO News.

Another similar event you can register for is the 9th German-Taiwanese Smart Machinery Forum that takes place in Taipei next month on August 22. This popular forum aims at exploring the current developments in the machinery industry. Find out more in our GTO News.

By the way, our office has an exciting job vacancy, and the deadline is next week on Wednesday. If you're interested or know someone who might be, act fast! Our GTO News offer you detailed a job description for the role of Senior Manager (German Business Alliance, Events & Investment Promotion).

Remember, a well-stimulated brain leads to higher productivity and better performance at work. Keep challenging your mind and see the benefits unfold!

Kind regards,

Taiwan's economy has shown exciting growth and positive trends in the first half of 2024! According to current predictions by the Ministry of Finance, 2024 will see a GDP of 786.9 billion USD, which means that it went up by 3.9% from December 2023 compared to the previous year.

Furthermore, foreign trade spiked in the first half of this year, i.e. 413.9 billion USD with a 9.7% increase, compared to 377.8 billion USD in the same period in 2023. This means that export growth has been revitalized.

Among those, total exports reached 225 billion USD, marking a 11.3% increase, since exports made up 202.1 billion USD in the same time period in 2023. This year’s trend in exported goods underscores Taiwan's strength in high-tech and industrial sectors. Compared to the first half of 2023, exports of Taiwanese information, communication, and audio-video products surged by 108.9% as they accounted for 27.8% of all exports. Parts of electronic products, specifically electronic integrated circuits, were the largest category, making up 35.9% of all exports.

In June, Taiwan experienced an inflation rate of only 2.4%. The current inflation rate is an improvement as it used to be 3.1% in the first half of 2022. Notably, Taiwan's overall inflation level of roughly 3% for 2022 was the highest in 14 years.

Additionally, the unemployment rate decreased by approximately 4% to 3.3% in May 2024 from 3.5% in 2023. At the beginning of this year, Taiwan's unemployment rate fell to the lowest level in 23 years, as reported by the Directorate General of Budget, Accounting and Statistics (DGBAS). This indicates a stable job market.

Let’s wait and see what updates the second half of 2024 brings. Follow us on Facebook or LinkedIn to stay up-to-date.

Vom 23.09. bis 27.09.2024 findet eine Geschäftsreise nach Taiwan für deutsche Unternehmen aus der Solarindustrie statt. Die fünftägige Reise besteht aus einer Fachkonferenz mit Unternehmenspräsentationen sowie individuellen B2B-Terminen mit potenziellen taiwanischen Geschäftspartnern und Entscheidungsträgern.

Die Reise richtet sich an deutsche Unternehmen aus dem Bereich Solarenergie, insbesondere mit Agri-PV und Solarthermie Lösungen. Ebenfalls willkommen sind Unternehmen aus dem Bereich Energiespeicherung sowie Firmen, die Taiwan als Beschaffungsmarkt für Solarprodukte entdecken möchten.

Taiwan hat bereits im Jahr 2016 eine Energiewende eingeleitet, die vorwiegend auf den Ausbau von Erneuerbaren setzt. Eine übergeordnete Rolle spielt dabei der Ausbau der lokalen Solarkapazitäten. So konnte der Anteil der installierten Kapazitäten im Bereich Solar PV von 2016 bis 2023 fast verneunfacht werden. Insgesamt verfügt Taiwan über 12,81 GW installierte Kapazitäten im Bereich Solar PV, davon sind 8,05 GW Aufdachanlagen und 4,76 GW auf Freiflächen installiert (Stand März 2024). Ziel der taiwanischen Regierung ist es, bis 2030 insgesamt 31 GW und bis 2025 sogar 40-80 GW installierte Solarkapazitäten aufgebaut zu haben. Um diese ambitionierten Ziele zu erreichen, sind innovative Lösungen aus dem Ausland besonders gefragt. Für deutsche Anbieter von Solartechnologien bietet Taiwan ein einzigartiges Marktumfeld, mit Einspeisevergütungen von 10 – 16 Eurocent pro kWh und starken Zugangsbeschränkungen für chinesische Wettbewerber.

Weitere Informationen und die Anmeldeunterlagen finden Sie auf der Website der Exportinitiative Energie. Den offiziellen Flyer finden Sie hier.

Bei Rückfragen stehen Ihnen Herr Kai Unger  ku@eclareon.com sowie unser Mitarbeiter Herr Philipp Molz molz.philipp@taiwan.ahk.de gerne zur Verfügung.

Supported by:

With a bilateral trade volume of 22 billion US$ in 2023 and over 300 active German companies, Taiwan has established a strong economic partnership with Germany. Aside from being the world’s top supplier of semiconductor chips, Taiwan also plays a key role in the global market utilizing new AI technologies to transform the manufacturing industries and enhance the efficiency of German manufacturers. Moreover, Taiwanese and German companies are in strong joint efforts for a smarter march towards Industry 4.0, leading the way for intelligent industrial robots as the center stage to power the machinery industry.

This forum will explore the insights and showcase the developing advancements in the smart machinery industry of Taiwanese and German collaborations. Participants can expect enriching networking opportunities, gaining valuable industry insights, and the opportunity to explore business prospects in Taiwan.

The 9th German-Taiwanese Smart Machinery Forum will be held on August 22 at the Taipei Nangang Exhibition Center Hall 1 and is organized by the Smart Machinery Promotion Office and the German Trade Office Taipei, in partnership with the Taiwan Automation Intelligence and Robotics Association and supported by the Industrial Development Administration, Ministry of Economic Affairs.

Event Details

Date: Thursday, August 22
Time: 14:00 – 17:00 (registration from 13:30 – 14:00)
Venue: Meeting Room 403, Taipei Nangang Exhibition Center Hall 1
Address: No.1, Jingmao 2nd Rd., Nangang District, Taipei City 11568, Taiwan
Event Language: English

Registration

GTO Wirtschaftsstammtisch & Machinery Panel Discussion 
30.07.2024 | Location: Taichung

9th German-Taiwanese Smart Machinery Forum
22.08.2024 | Location: Taipei

Sichern Sie sich jetzt Ihre Teilnahme an einer Leistungsschau in Taiwan!

Wussten Sie, dass für den gesamten taiwanischen Fertigungssektor ein Umsatzrekord von 700 Mrd. Euro für 2024 prognostiziert wird? Taiwan beherbergt weltweit führende Fertigungsunternehmen in den Bereichen Halbleiter, Elektronik, Maschinen- und Anlagenbau, deren Entscheidungsträger:innen in Taiwan sitzen und die durch das Upgrade der Produktionsprozesse mit Industrie 4.0-Technologien ihre Konkurrenzfähigkeit sichern wollen.

Vom 21. bis 25. Oktober 2024 findet eine Leistungsschau für deutsche Unternehmen nach Taiwan statt. Die Reise wird vom Bundesministerium für Wirtschaft und Klimaschutz im Rahmen des Markterschließungsprogramms für KMU gefördert.

Sichern Sie sich jetzt Ihre Teilnahme für die Leistungsschau nach Taiwan und erschließen Sie den taiwanischen Markt für Industrie 4.0 wie Cloudplattformen, maschinelle Bildverarbeitung, BigData, Cybersecurity, Systemintegration, Robotik, 3D-Druck, AI und VR, um Ihren idealen Vertriebs- und Geschäftspartner zu finden und wertvolle Einblicke zu erhalten!

Weiterführende Informationen sowie einen Link zur Anmeldung finden Sie auf unserer Website. 

DEinternational Taiwan Ltd. is hiring a Senior Manager (German Business Alliance, Events & Investment Promotion)!

Your Role:

• Support German member companies in Taiwan
• Organize exciting events like the German Christmas Markets and Oktoberfest
• Promote German investment opportunities to Taiwanese businesses
• Collaborate closely with our dynamic team

Qualifications:

• Native in German
• Fluent in English
• Fluent in Chinese, basic Chinese reading and writing skills
• University degree (preferably in Chinese/Asian Studies, Business, Politics)
• Strong communication and organizational skills
• At least 2 years of project management experience

Perks:

• Positive, multicultural work environment
• Career development opportunities
• Salary: 60.000 – 75.000 NT$ fixed monthly salary
• 14 days annual paid leave + Taiwanese and German public holidays

Deadline: July 31

Send your CV and cover letter to Ms. Lin Yi at lin.yi@taiwan.ahk.de.

The largest platform for the global energy industry, Smarter E Europe, was a phenomenal success in June! We are excited to announce that the next Smarter E Europe will be held from May 7 – 9, 2025, at Messe München, Germany. Smarter E Europe unites four major exhibitions: Intersolar Europe, ees Europe, Power2Drive Europe, and EM-Power Europe. These exhibitions will cover renewable energy, batteries and energy storage systems, charging equipment and e-mobility, as well as energy management and integrated solutions. 

In 2024, Smarter E Europe featured over 3,000 exhibitors showcasing their innovative products and attracted approximately 110,000 visitors from around the globe. Additionally, more than 2,500 attendees participated in the conference and various side events, setting a new record. 

Next year, in corporation with TAITRA we will organize the Taiwan Pavilion in the Intersolar Sector (Hall A3). We welcome all Taiwanese companies to join us! Smarter E also exhibits globally, not just in Munich but in Mumbai, Dubai, South America, and North America. 

From April 8-10, 2025, Messe Berlin will host Europe's leading event for digital health, DMEA. It brings together decision-makers from across the healthcare sector, including IT specialists, physicians, hospital and nursing care executives, and experts from politics, science, and research.

DMEA 2024 was a massive success, attracting over 800 exhibitors, more than 19,000 visitors, and nearly 300 speakers from around the globe. The event covered a wide range of topics beyond healthcare in Germany, such as patient care in Europe, the electronic patient record in Denmark, and AI transparency in Europe.

DMEA is an excellent platform for system and hardware/software vendors worldwide to seize market opportunities and engage with the digital healthcare community.

Don't miss your chance to be part of next year’s DMEA! To exhibit at DMEA 2025, please contact our colleague Mr. Pinchao Huang.

Mark your calendars for the world’s largest trade fair for consumer electronics and home appliances Join us at IFA 2024 as we celebrate its monumental 100th anniversary!

Date: September 6 – 10, 2024
Venue: Berlin, Germany

Experience the pulse of “innovation for all” right in the heart of Europe's most dynamic regional market. At IFA, witness the unveiling of the latest products from around the globe. With attendees from over 130 countries, IFA is the main hot spot for key retailers, buyers and experts from the industry and the media. Only IFA offers such a comprehensive overview of the international market.

But that's not all! Immerse yourself in the electrifying atmosphere with exhilarating outdoor spectacles and evening concerts featuring both local legends and international superstars.

What’s special about this year’s IFA 2024? It’s divided into two exhibition periods AND two exhibition zones:

1) IFA: September 6 – 10 at Messe Berlin

2) IFA Global Markets: September 8 – 10 at STATION Berlin

Don't miss out on this extraordinary opportunity! Exclusive Trade Visitor Tickets are on sale now! Sign up and don’t miss a beat!

On behalf of Rauschert Asia Ltd., a subsidiary of the German company Paul Rauschert Steinbach GmbH, a leading global manufacturer of technical ceramics, molded plastic parts and more, we want to make you aware of an open job position, i.e. Commercial Person.

Key Responsibilities:

• Report clearly to the management team in Germany
• Make daily business decisions with our development team in Taiwan and Germany
• Decide together with the management team in Germany on the business process within the strategy of Rauschert

Requirements:

• Import and export experience is a plus
• Readiness to come to Germany for training and business coordination a least once per year (other countries might be possible too)

For further details and information regarding the application process, please visit our website.

The latest risk report on Taiwan, published by BMI—a FitchSolutions Company—in May 2024, provides political and economic forecasts for the next decade. Key findings include the following: 

Taiwan's real GDP saw a 6.5% year-over-year rebound in Q1 2024, which raises the annual growth forecast to 3.5%, though a slowdown is expected. Politically, Taiwan's democracy is strong but faces governance challenges due to party splits. Social stability is high, but an aging population poses long-term financial issues. Security risks include tensions with Mainland China, though a large-scale attack, invasion or full-scale naval blockade is unlikely due to the risks involved. Economically, Taiwan's strength in semiconductors is crucial, but relations with China could impact stability. The economy is expected to grow at an average of 2.6% annually through 2033. This growth will be driven by exports, particularly semiconductors. Monetary challenges persist, with no rate cuts anticipated for 2024. 

Read a more detailed summary on our official website.

Source: Fitch Solutions

Export-Led Recovery Drives Number of Furloughed Workers to Three-Year Low

The number of workers in formal furlough programs has fallen to its lowest level in more than three years on the back of a recovery in the export-oriented manufacturing sector, the Ministry of Labor said.

Data compiled by the ministry showed that the number of workers placed on the government-subsidized unpaid leave programs fell to 3,861, down from 824 from 4,685. During the same period, the number of employers adopting furlough programs dropped to 228 from 272, the ministry said.

“The fall in the number of furloughed workers largely reflects growing global demand driving the local manufacturing sector,” Department of Labor Standards and Equal Employment Director Huang Wei-chen (黃維琛) said.

(Last access: 18.07.2024 / Taipei Times)

DBS Raises GDP Forecast for Taiwan to 4.2%

Singapore-based DBS Bank raised its forecast for Taiwan’s GDP growth this year to 4.2 percent, from the 3.5 percent it predicted in April, as Taiwan's exports are expected to improve, aided by demand for artificial intelligence (AI) applications.

DBS senior economist Ma Teiying (馬鐵英) told a news conference in Taipei that she was aware the projection is higher than most forecasts, including the Directorate-General of Budget, Accounting and Statistics’ 3.94 percent. Ma attributed her optimism to a robust recovery and the arrival of the high sales season for technology products.

(Last access: 18.07.2024 / Taipei Times)

NSTC Proposes Record High Technology Development Budget

The National Science and Technology Council (NSTC) proposed a record high annual budget of NT$159.6 billion (US$4.9 billion) for 2025 to bolster technological development in Taiwan.

The NSTC made public the budget agreed by its committee (comprised of eight ministerial-level heads, academics, and industry representatives), with a total of NT$159.6 billion. This represented a 15 percent rise from 2023 and a 1.6 percent increase from 2024.

NSTC head Wu Cheng-wen (吳誠文) said the budget is intended to implement what President Lai Ching-te (賴清德) envisioned in his inaugural speech, namely transforming Taiwan into an artificial intelligence (AI) island.

Taiwan’s Companies Shift Supply Chains From China to India

Taiwan’s companies are shifting supply chains from China to India, Taiwan's key trade body chair told Reuters in an interview. 

Trade tensions between Washington and Beijing have led to an increase in Taiwan’s foreign direct investment (FDI) in India to over US$665 million (NT$21.68 billion) in the five years to 2023, Taiwan External Trade Development Council Chair James Huang (黃志芳) told Reuters. That was compared to Taiwan’s FDI of US$277 million in India between 2006 and 2017, Huang said.  

“It is evident that more Taiwanese companies are moving supply chains out of China and are establishing them in India,” Huang said to Reuters.