Doing Business in Taiwan


Why Taiwan?

Taiwan is an advanced, high-tech economy with a strategic location in the Asia Pacific region. It has modern infrastructure and its banking, insurance and securities sectors are being liberalised.

Stable business environment


Taiwan is a stable market economy that showed robust growth in 2020, despite the global impact of COVID-19. The Taiwanese are well-educated, with 45% of people aged 25 to 64 holding a bachelor’s degree or higher.

Hi-tech world leaders

Taiwanese firms are world leaders in high-tech manufacturing sectors such as semiconductors, laptops, servers, and smartphone components. Taiwan is also home to the contract manufacturing giants TSMC and Foxconn. Decades of investment and research has given Taiwan a central position in global technology supply chains.

Future strategic industries

In 2020, Taiwan outlined its ‘Six Core Strategic Industries’: digital technology, cyber security, medical technology and precision health, green and renewable energy, national defence and strategic industries, and strategic stockpile industries. These industries are aligned with the UK’s 2021 ‘Build Back Better’: the UK plan for growth.


This video explains why Taiwan is a great choice to start or expand your business.





Taiwan GDP Annual Growth Rate


The Taiwanese economy expanded 5.09% yoy in Q4 2020, compared with the preliminary figure of a 4.94% advance and after an upwardly revised 4.26% expansion in Q3. This was the strongest pace of growth since Q1 2011, as the economy recovered further from the COVID-19 shocks. Government spending growth accelerated (4.37% vs 3.52% in Q3) and gross capital formation increased further (2.96% vs 6.12%). In addition, private consumption shrank less (-1.07% vs -1.55%).


At the same time, exports rose faster (5.67% vs 3.33%), amid strong foreign demand for parts of electronic products and information, communication, and audio-video products. Meanwhile, imports fell further (-2.9% vs -3.6%). For full 2020, the GDP was revised up to 3.11% from an earlier forecast of 2.08%. In 2021, the economy is expected to grow by 4.64%, higher than a prior forecast of 3.83% on a strong rebound in exports. 



Source: National Statistics, Republic of China



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