Fri, Jan 23, 2015 - Page 14 News List

Taiwan Business Qucik Take

Staff writer, with agencies

TRADE

Competitiveness to fall

Taiwan’s overall trade competitiveness ranking could fall this year by two places to 14th out of 54 major and emerging economies, a survey said yesterday. The poll, conducted by the Importers and Exporters Association of Taipei, revealed that Singapore is poised to take the leading position for a fourth consecutive year, followed by the US and Canada in second and third place respectively, while Taiwan continues its two-year plummet in global trade competitiveness. The survey evaluates the degree of freedom, convenience, ease and exposure to risk for trading in world markets. The association attributed Taiwan’s poor performance in the survey to its slow progress in securing trade agreements. The association urged the government to accelerate efforts in securing trade agreements, boosting international promotion, establishing third-party payment services and devising specialized marketing strategies to tap into niche markets abroad.

MANUFACTURING

Output value to rise

The value of the output of Taiwan’s manufacturing sector is expected to grow by 2.93 percent this year from a year earlier, an upward revision of 0.07 percentage points from a previous estimate, because of the global economic recovery, the Industrial Economics and Knowledge Center said on Tuesday. The center, a research unit of the Industrial Technology Research Institute (工研院), said the local manufacturing sector would generate output worth NT$19.55 trillion (US$619 billion) this year, up from the estimated NT$18.99 trillion for last year. The report said that manufacturing output is expected to grow 2.32 percent year-on-year in the first quarter, 2.5 percent in the second quarter, 3.8 percent in the third quarter and 3.01 percent in the fourth quarter.

ELECTRONICS

Apple challenging Samsung

Apple Inc is chipping away at Samsung Electronics Co’s dominant position on its home turf in South Korea — thanks to its new iPhone 6 series. Apple captured a record 33 percent market share in South Korea in November last year, the highest-ever for a foreign brand, according to a monthly report released on Wednesday by Hong Kong-based market research company Counterpoint. In contrast, Samsung’s share slipped to 46 percent after hovering at about 60 percent for five months.

REAL ESTATE

LCY Chemical sells land

LCY Chemical Corp (李長榮化工) on Wednesday said it would book a divestment gain of NT$169.75 million by selling idle real-estate assets in Greater Kaohsiung to China Steel Corp (中鋼). LCY said in a Taiwan Stock Exchange filing that it had sold a plot of land and buildings on the land in Siaogang District (小港) for NT$937 million to China Steel, which is the nation’s only integrated steelmaker.

COMMERCE

Chamber announces roles

The European Chamber of Commerce Taiwan on Wednesday said two directors-elect, STMicroelectronics Taiwan general manager Giuseppe Izzo and BNP Paribas Taiwan manager Olivier Rousselet were elected as vice chairmen of the chamber. The board also elected Societe Generale Taipei Branch head Godwin Chang (張建西) and Siemens Ltd Taiwan president and chief executive officer Erdal Elver to serve as the chamber’s executive directors, the chamber said in a statement. The chamber promotes European business interests in Taiwan.

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