As an island nation renowned for its yacht-building, Taiwan should take an open attitude toward the development of a yachting services industry, the Council for Economic Planning and Development (CEPD) said yesterday.
San Gee (單驥), deputy minister of the CEPD, said in a seminar on developing the service industry that it seemed ironic that the government restricts the development of local yachting services for security reasons, even as South Korea began to develop maritime tourism this year.
Taiwan is well-known internationally for its yacht-building industry. However, people in Taiwan have no experience of yachting, San said, adding that the government should consider a different attitude toward developing tourism.
Despite the threat from North Korea, South Korea still decided to develop its coastal leisure recreation business to stimulate domestic demand and is considering loosening restrictaions on yachting licenses, San said.
As South Korea has taken an open attitude, Taiwan can surely follow suit, San said.
Singling out Kueishan Island (龜山島) as an example, Sun said that the volcanic islet off the coast of Toucheng in northeast Taiwan is actually very close to the coast. However, as the government has set numerous restrictions on visiting the island, people feel it is a distant place.
He said that the government should adopt supporting measures such as using a Global Positioning System to manage the island.
The island’s administration said people who want to visit must file applications via its Web site three to 20 days before their scheduled visit.
As the number of total visitors cannot exceed 400 people during weekdays and 500 during weekends, the computer makes random selections each day. Selected applicants have to travel there with qualified boat operators.
One of Taiwan’s major yacht-builders has described Taiwan as the only country in the world where yachts are built on land, and yachting was, until recently, not permitted.
Horizon Yachts said the largest builder in Asia and sixth-largest in the world, Taiwan’s yacht industry is a 30-year veteran in the yachting world, even though the sport is non-existent in the country as a result of restrictive regulations.
WEAKER ACTIVITY: The sharpest deterioration was seen in the electronics and optical components sector, with the production index falling 13.2 points to 44.5 Taiwan’s manufacturing sector last month contracted for a second consecutive month, with the purchasing managers’ index (PMI) slipping to 48, reflecting ongoing caution over trade uncertainties, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The decline reflects growing caution among companies amid uncertainty surrounding US tariffs, semiconductor duties and automotive import levies, and it is also likely linked to fading front-loading activity, CIER president Lien Hsien-ming (連賢明) said. “Some clients have started shifting orders to Southeast Asian countries where tariff regimes are already clear,” Lien told a news conference. Firms across the supply chain are also lowering stock levels to mitigate
IN THE AIR: While most companies said they were committed to North American operations, some added that production and costs would depend on the outcome of a US trade probe Leading local contract electronics makers Wistron Corp (緯創), Quanta Computer Inc (廣達), Inventec Corp (英業達) and Compal Electronics Inc (仁寶) are to maintain their North American expansion plans, despite Washington’s 20 percent tariff on Taiwanese goods. Wistron said it has long maintained a presence in the US, while distributing production across Taiwan, North America, Southeast Asia and Europe. The company is in talks with customers to align capacity with their site preferences, a company official told the Taipei Times by telephone on Friday. The company is still in talks with clients over who would bear the tariff costs, with the outcome pending further
Six Taiwanese companies, including contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), made the 2025 Fortune Global 500 list of the world’s largest firms by revenue. In a report published by New York-based Fortune magazine on Tuesday, Hon Hai Precision Industry Co (鴻海精密), also known as Foxconn Technology Group (富士康科技集團), ranked highest among Taiwanese firms, placing 28th with revenue of US$213.69 billion. Up 60 spots from last year, TSMC rose to No. 126 with US$90.16 billion in revenue, followed by Quanta Computer Inc (廣達) at 348th, Pegatron Corp (和碩) at 461st, CPC Corp, Taiwan (台灣中油) at 494th and Wistron Corp (緯創) at
NEGOTIATIONS: Semiconductors play an outsized role in Taiwan’s industrial and economic development and are a major driver of the Taiwan-US trade imbalance With US President Donald Trump threatening to impose tariffs on semiconductors, Taiwan is expected to face a significant challenge, as information and communications technology (ICT) products account for more than 70 percent of its exports to the US, Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) president Lien Hsien-ming (連賢明) said on Friday. Compared with other countries, semiconductors play a disproportionately large role in Taiwan’s industrial and economic development, Lien said. As the sixth-largest contributor to the US trade deficit, Taiwan recorded a US$73.9 billion trade surplus with the US last year — up from US$47.8 billion in 2023 — driven by strong