Leading Canadian firms open regional branches in Taiwan

Several international Canadian enterprises set up regional operation centers in Taiwan last year, with investments amounting to US$6.5 million -- representing 47 percent annual growth -- a Ministry of Economic Affairs (MOEA) official said yesterday.

The official said a top Canadian high-tech enterprise, Intrinsyc Software International Inc, had established its Taiwan branch in Taipei's Neihu District (內湖) to deal with various business and construction projects in the Asia-Pacific region.

COREL CORP

Corel Corp, a leading provider of graphics software, set up a Taiwan branch after acquiring shares of InterVideo Inc's Taiwan branch and Ulead Systems Inc (友立資訊), both software designers, to develop its global multimedia business.

Another Canadian enterprise, Cognos Inc, a world leader in performance planning and business intelligence, established its Taiwan branch as an operational center to further develop its business by providing services to both domestic and foreign companies.

INVESTMENT

The official said a memorandum of understanding on investment development between Taiwan and Canada, signed by the MOEA's Department of Investment Services and the Canadian Trade Office in Taipei last year, has boosted investment from Canadian enterprises.

The two sides have also drawn up guidelines on bilateral trade relations this year, aiming to extend cooperation between Canadian enterprises and Taiwan's high-tech industry.

Taiwan is wooing more Canadian investors, while at the same time encouraging Taiwanese businesspeople to invest in Canada, the official said.