The Taiwan External Trade Development Council (TAITRA,
"China's gradual tightening of its labor and new tax regulations have dealt a heavy blow to Taiwanese businesspeople operating in China," the official said, adding that the government was working to help them relocate their production lines to Southeast Asian countries, where labor remains cheaper.
"At the request of the Ministry of Economic Affairs, TAITRA, a quasi-official trade body promoting Taiwan's trade with foreign countries, is organizing a trade delegation to explore the investment climate in Southeast Asia, in collaboration with the Taiwan Transportation Vehicle Manufacturers Association," the official said.
The official said the delegation, comprised of representatives from industries such as electronics, vehicle parts and accessories, building materials, shoe-making and raw material processing, was scheduled to make a fact-finding visit to Thailand and Indonesia from March 27 to May 3 to explore trade opportunities.
While there, the delegation will attend investment seminars sponsored by the local authorities, visit several industrial zones and hold talks with local manufacturers to gain a better understanding of the investment climate in the two countries.
Noting that the fields of electronics and information technology were included as key industries set to be given priority development in Thailand's "2020 vision" project, the official said that Taiwan has become one of the major suppliers of electronics to Southeast Asian, with many Taiwanese manufacturers establishing production lines there.
Describing the vehicle industry as Thailand's third-largest industry, the official said Thailand ranks No. 7 globally in the export of automobiles.
He said that Indonesia, with a population of approximately 230 million, is the world's third-largest market.
In addition, Indonesia lifted value-added taxes on agricultural, forest and fishery raw materials last year in a bid to stimulate manufacturer investment, the official said.
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