CCIS releases the ASEAN Top 500 Taiwanese-Owned Companies Research
On May 31, CCIS released the "ASEAN Top 500 Taiwanese-Owned Companies" ranking to understand the development of Taiwanese-owned companies in the ASEAN region, and the results of the New Southbound Policy.
On the same day, CCIS co-hosted the event “New South Horizons Actions: ASEAN Business Opportunities” with Wealth bi-weekly magazine at the Finance Research Institute. The forum was also organized with the collaboration of the Ministry of Economic Affairs, TAITRA, and EXIM Bank, with an audience of around 400 people.
The President of Wealth Magazine, Xie Jinhe, shared the achievements of Taiwanese-owned companies in ASEAN countries during his speech, announcing the advent of the ASEAN era. He explained that now is the best time to develop the ASEAN market, focusing on the importance of the government-business collaboration in exploring opportunities in India.
James C.F. Huang, Chairman of the Taiwan External Trade Development Council, stressed that the real opportunity in the ASEAN market relies on the development of the domestic market, with Taiwanese high-tech, green energy, high-quality services, and IoT offering some advantages. India is a key area that cannot be ignored by ASEAN countries. It has a population of over twice that of the ASEAN region, representing the third largest economy in the world, with an economic growth of 7.6% in the last few years, much higher than that of ASEAN countries. India will be the next focus area for Taiwanese-owned businesses, and the government should work with experts and academics, focusing on upcoming India-related policies.
Yang Jen-ni, Secretary of the Bureau of International Trade of the Ministry of Economic Affairs, stated that the economic growth rate of the ASEAN region has been evident, staying around more than 5%, providing Taiwanese-owned businesses with many development opportunities, and at the same time pushing the export trade of these companies towards ASEAN countries.
Alice Kuo, CRIF CCIS General Manager, pointed out that ASEAN countries are the second largest export market, having already surpassed the US. The southbound trade opportunities are unlimited, and CRIF Group already covers 8 countries in the ASEAN region, meaning that Taiwan-based CCIS can work in the future as a platform for the integration of all ASEAN resources. Among the ASEAN Top 500 Taiwanese-owned companies, 78% were established more than 10 years ago, and 7% were established more than 5 years ago. This shows the effectiveness of the southbound business opportunities in taking root in one country, such as Vietnam, focusing on long-term investment and developing the domestic market, achieving sustainable results.
The CCIS Editor-in-Chief, Jen Liu, also presented the results of the “ASEAN Top 500 Taiwanese-Owned Companies” research, conducted in collaboration with Wealth Magazine. The “ASEAN Top 100 Taiwanese-Owned Companies” were ranked according to revenues, with total revenues of TWD 2.29 trillion in 2016, and a growth of more than 22.46%; the majority of Taiwanese investors are in Vietnam, where the net profit margin is the highest.
Executive Yuan member John Deng believes Taiwan should develop health care and agricultural soft power, with innovative breeding and processing technologies, using years of engineering experience, as well as technological development and educational skills, with the aim of creating a southbound market. Alfred F. I. Chen, Namchow Group President, and Zheng Xiuru, EXIM Bank Insurance Department Assistant Manager, shared the strategic experience of companies in the ASEAN region. To conclude, the forum focused on how to organize the ASEAN strategy, and all the participants engaged in an active discussion.
Besides the first release of the “ASEAN Top 500 Taiwanese-Owned Companies” ranking, which enables outsiders to have more in-depth knowledge on ASEAN Taiwanese-owned businesses, this forum emphasized the importance of the ASEAN domestic market. In the future, companies should deploy Taiwan’s soft skills, combining policies and ASEAN domestic demand, creating win-win business opportunities, and launching a new economic momentum for Taiwan.