Latvian FORBES Reports Taiwan's New Southbound Policy
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The No. 78 Issue of Latvian FORBES Magazine published an article titled “Taiwan flies south” by Ralph Jennings, which positively commented Taiwanese government’s “New Southbound Policy”.
It cited the successful examples of Chatime and La Kaffa as role models for how Taiwanese companies should find a market niche in Southeastern Asian countries. The current push of “New Sounthbound Policy” covers more than direct investment-tourism, labor and the recruitment of university students.
It also includes a comment from Marie Diron of Moody’s Investors Service in Singapore, “At this stage, we think that the New Southbound Policy will likely provide some support to Taiwan’s competitiveness and foster diversification in trade investment and broader relationships.” “Taiwan has renewed an agricultural cooperation deal with Indonesia and has begun discussing the same with India, Vietnam and the Philippines,” the article said.
The article concluded that “Taiwan’s latest official push only underscores what the early birds saw. If Southeast Asia can double the number of middle-class households…Their ability to consume is terrifying.”