The quasi-official Taiwan External Trade Development Council (TAITRA) has taken a big step forward in strengthening the country’s economic and trade cooperation with Myanmar as part of its efforts to seek closer ties with ASEAN, the council said in a statement.
A memorandum of understanding on mutual cooperation between TAITRA and the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) was signed in Yangon last week, the TAITRA statement said.
UMFCCI Vice Chairman Zaw Min Win said during the signing ceremony that he welcomed Taiwanese investment in his country of 57 million people, which he described as having a sizable domestic market.
He said Myanmar was a key player in regional economic integration in the Mekong River Basin, the Bay of Bengal and ASEAN.
TAITRA figures show Taiwan exported goods worth US$93.7 million to Myanmar last year, an increase of 33.6 percent from 2007.
Myanmar relies heavily on imports to satisfy its citizens’ daily needs, TAITRA said, adding that it was an ideal place to open labor-intensive production lines because average monthly wages in Malaysia ranged between US$30 and US$50.
In addition, TAITRA sees Myanmar as suitable for development of the energy industry and other businesses such as precious stone processing, farming and fish breeding because of its abundant natural resources.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
TRANSFORMATION: Taiwan is now home to the largest Google hardware research and development center outside of the US, thanks to the nation’s economic policies President Tsai Ing-wen (蔡英文) yesterday attended an event marking the opening of Google’s second hardware research and development (R&D) office in Taiwan, which was held at New Taipei City’s Banciao District (板橋). This signals Taiwan’s transformation into the world’s largest Google hardware research and development center outside of the US, validating the nation’s economic policy in the past eight years, she said. The “five plus two” innovative industries policy, “six core strategic industries” initiative and infrastructure projects have grown the national industry and established resilient supply chains that withstood the COVID-19 pandemic, Tsai said. Taiwan has improved investment conditions of the domestic economy
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
MAJOR BENEFICIARY: The company benefits from TSMC’s advanced packaging scarcity, given robust demand for Nvidia AI chips, analysts said ASE Technology Holding Co (ASE, 日月光投控), the world’s biggest chip packaging and testing service provider, yesterday said it is raising its equipment capital expenditure budget by 10 percent this year to expand leading-edge and advanced packing and testing capacity amid strong artificial intelligence (AI) and high-performance computing chip demand. This is on top of the 40 to 50 percent annual increase in its capital spending budget to more than the US$1.7 billion to announced in February. About half of the equipment capital expenditure would be spent on leading-edge and advanced packaging and testing technology, the company said. ASE is considered by analysts