Short history, but strong tradition

TAIWAN Business.EU l trade fairs a strategically more interesting location of today's Macao, while the Dutch built fortifications on Taiwan which you can still visit to this day. The territory of Taiwan was controlled by the East India Company and it was a period of heavy migration of the Chinese onto Taiwan. Taiwan followed Chinese culture until it was given over as a war reparation trophy to the Japanese in 1895. It remained a Japanese colony until 1945 when it rejoined mainland China. Since mid-1980s, Taiwan has been undergoing a gradual process of democratisation. Modern Taiwan Today's modern Taiwan is headed for the future at an astonishing pace and with breathtaking vigour. Currently, Taiwan is a highly advanced country of computers, electronics and many conveniences that have yet to reach us in Central Europe such super-precise high-speed railway across the entire island. The lifestyle and standard of living is largely similar to the Western, European one. The Taiwanese are not overly formal in personal and business relations and do not keep to a special code of conduct. They have an enterprising approach to life. Their life motto is: "Work hard and save money". They have 3 main goals in life: a house, a car and a son. Taiwan Can Produce Cutting-edge Machines with Smart Technologies Up to 90 % of Taiwanese production of machine tools and accessories is located in central Taiwan, particularly in Taichung. The close link between all production steps, from production of accessories up to machine tool assembly, offers the best solutions for end users of global devices, which allows central Taiwan to become a world renowned industrial centre specialising in machine tools. Central Taiwan is also the largest community of users of automation and machinery in the production sector. This complex community of manufacturers of machine tools and accessories has vast experience with machining and production, which gives them a great competitive advantage to meeting global demand. The Taiwanese machine tool industry has been developing for over 60 years. It all began by accumulating technical know-how from advanced foreign machines. Once manufacturers began independently designing and improving their products, they were able to dominate the markets of developing countries such as those found in south-east Asia. In the eighties, Taiwanese manufacturers gradually began crossing over to digital control of machine tools under the auspices of research institutes and their production markedly increased. Currently, Taiwan's competitiveness in terms of quality and price is outstanding. The Numbers Speak for Themselves Latest Gardner Research statistics from 2017 show a noticeable shift in the ranking of the best manufacturers, importers and exporters of machine tools by country. Due to the growing demand from China for medium-sized products and automated production cells, Taiwanese annual output totalled USD 4.29 billion, making it the 7th highest in the world, and annual export value reached USD 3.35 billion, earning Taiwan the spot of the 4th largest exporter in the world once again. Machine tool consumption on Taiwan in 2017 reached 2017 USD 1.7 billion, which is the 9th highest consumption in the world, while annual import value totalled USD 840 million. Due to major growth on the North American and Chinese markets, the production value of Taiwanese machine tool industry in the 1st quarter of 2018 reached USD 1.05 billion and the export total was USD 0.83 billion, which adds up to a year-on-year growth by 7.6 % and 20.3 % respectively. The machine tool industry on Taiwan is oriented towards export, which constitutes 80 % of production. Main export targets are China (33.2 % of total export), USA (11 %), developing countries in Asia, and certain parts of Europe. Import represents more than 44 % of total machine tool consumption in Taiwan and the main importing country is Japan. Top 3 import models are machine tools utilising non-traditional processing methods such as machining by electric discharge, laser or ultrasound; lathes; machine tools for forging or pressing. 90 % of the Taiwanese machine tool industry consists of small and medium-sized enterprises capable of flexible production and quick delivery. The country's specialised network of machinery, modules and accessories results in a flexible and responsive supply chain, creating a national industrial character typified by low transaction costs and short delivery times. Taiwan holds 1,801 manufacturers of machine tools and accessories with 40,405 employees. These companies invest over USD 85 million in research and development and USD 3 million into purchasing new technologies. www.taiwanbusiness.eu 7