Bubble milk tea is expected to generate about US$1 billion in business opportunities for Taiwanese businesses this year, the Taiwan External Trade Development Council (TAITRA, 外貿協會) said before sending a delegation of drink suppliers, ingredient makers, packaging material providers and tea-making equipment providers to Japan yesterday.
It is the first bubble milk tea delegation organized by TAITRA to go to Japan, while members of the delegation are also expected to seek franchising partners there, the council said.
Japan, one of Taiwan’s largest buyers of bubble milk tea, imported about US$26.97 million of tapioca balls in the first eight months of this year, 10 times more than the previous year, TAITRA president and chief executive Walter Yeh (葉明水) said on Wednesday.
The figures show that the nation’s bubble milk tea industry has laid a good foundation in Japan, Yeh said.
The delegation is to visit Tokyo, Osaka and Fukuoka, the council said, adding that the delegation members are expected to meet with more than 70 potential buyers in each city.
In Osaka, more than 100 potential buyers have registered to meet the group, the council said.
An international forum is planned for next year to highlight that Taiwan is the home of bubble milk tea and additional delegations are to visit the US and Canada, it added.
The Taiwan Bubble Tea Alliance was set up in 2017, and 125 bubble milk tea vendors and industry firms have so far signed up for membership to boost their collective strength, the council said.
RESTRUCTURING: Taichung and Taoyuan profited most from local firms moving back high-end manufacturing amid the US-China decoupling of trade ties, the ministry said The government’s “Invest in Taiwan” initiative might this year see NT$627.1 billion (US$21.7 billion) of investment pledges realized, with several firms raising stakes and two dropouts due to customer losses, Minister of Economic Affairs (MOEA) Wang Mei-hua (王美花) said yesterday. Wang made the statement at the monthly meeting of the Third Wednesday Club, a local trade group featuring the top 100 firms of each business sector. Since early last year, the government has launched three programs intended to help local companies grapple with US-China trade rows and the COVID-19 pandemic, mainly through moving production lines back to Taiwan. Thus far, the ministry
JOBS AT RISK? Most Cathay Dragon routes are to be operated by Cathay Pacific or a subsidiary, but it was unclear how Taiwanese workers would be affected Cathay Pacific Airways Ltd (國泰航空) yesterday said it is planning new flight services for Taiwan as it announced a corporate restructuring that included the shutdown of its regional subsidiary, Cathay Dragon (國泰港龍), and could lead to job cuts in Taiwan. Cathay Pacific said the shutdown means that the one round-trip service between Taichung and Hong Kong per day and seven round-trip services between Kaohsiung and Hong Kong operated by Cathay Dragon prior to the COVID-19 pandemic would be terminated. “The parent company is planning a new schedule between Taiwan and Hong Kong,” Cathay Pacific assistant manager for corporate communications Moses Hou (侯恩錫)
OVERHEATED MARKET?: The gauge would be designed to provide more reliable information than private-sector data, and help improve policymaking, the council said The National Development Council (NDC) is considering creating a business climate index on Taiwan’s property market, allowing policymakers to better monitor market movements and intervene if necessary, NDC Minister Kung Ming-hsin (龔明鑫) said yesterday. Kung made the remarks at a meeting of the legislature’s Economic Committee where lawmakers from across party lines voiced concerns about housing price hikes driven by capital repatriation. Kung said that the council is assessing the possibility of creating an index designed to provide more accountable and transparent information than data provided by private-sector market analysts, and could help improve policymaking. The council would compile a report on
STOCK MARKETS TAIEX closes slightly higher The TAIEX closed slightly higher yesterday as market sentiment remained cautious over the Nov. 3 US presidential election. Contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was again the anchor stabilizing the broader market, preventing the main board from falling into negative territory at the end of the session, dealers said. The TAIEX closed up 14.88 points, or 0.12 percent, at 12,877.25, on turnover of NT$167.982 billion (US$5.81 billion). TSMC, the most heavily weighted stock on the local market, rose 0.44 percent after fluctuating between NT$451 and NT$456. The semiconductor subindex and the bellwether electronics sector
RSS