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.
WALKING AWAY: At one point the world’s No. 3 smartphone brand, LG has fallen from a position as a market leader after a series of software and hardware mishaps South Korea’s LG Electronics Inc is to wind down its loss-making mobile division after failing to find a buyer, a move that would make it the first major smartphone brand to completely withdraw from the market. Its decision to pull out will leave its 10 percent share in North America, where it is the No. 3 brand, to be gobbled up by Samsung Electronics Co and Apple Inc with its domestic rival expected to have the edge. “In the United States, LG has targeted mid-priced — if not ultra-low — models and that means Samsung, which has more mid-priced product lines than
SHORTAGE: The city government said it would install water purification machines to provide drinking water to residents and would close all public swimming pools Officials, residents and businesses in Taichung have been gearing up for water cuts that are to take effect tomorrow as Taiwan deals with a water shortage. The water supply to large parts of Taichung as well as parts of Miaoli, Changhua and Hsinchu counties is to be cut on a rotational basis for two days a week, affecting an estimated 1 million customers, the Water Resources Agency said. It is the most stringent water rationing measure introduced in central Taiwan in nearly 50 years, Taiwan Water Corp (台灣自來水) official Lin Yi-hsiung (林義雄) said. The Taichung City Government said in a statement that
SPECULATION: The integrated house and land transaction income tax has been amended as the real-estate market heats up because of high liquidity and low interest rates Lawmakers across party lines yesterday agreed to July 1 as the provisional date on which a draft amendment to the Income Tax Act (所得稅法) is to come into effect, with the aim of curbing real-estate speculation. The consensus was reached following interparty negotiations at the legislature’s Finance Committee to determine when revisions to the “integrated house and land transaction income tax” would take effect. The committee on Monday last week passed a number of revisions to the act, but failed to agree on when they would take effect. Under the proposed revisions, the tax would be set at 45 percent
TAICHUNG PLANT: An official said that generator No. 3 had been retrofitted and it generates 0.46g of particulate pollution per kilowatt-hour, down from 0.6g to 0.7g A spike in demand for electricity made it necessary to restart the third coal-fired generator at the Taichung Power Plant, Taiwan Power Co (Taipower, 台電) said yesterday as a feud with the Taichung City Government lingers. Taichung Mayor Lu Shiow-yen (盧秀燕) has sought to keep the generator from being used. In 2019, he revoked Taipower’s license to operate the generator. However, the state-run utility has taken the city government to court over the license revocation and won the case in February last year, Taipower manager Chang Ting-shu (張廷抒) said. “We would like to remind the Taichung City Government that operation of the third