Seventy-eight percent of survey respondents in the latest British Business Survey have an optimistic outlook on Taiwan’s economic prospects in the next three years, the Britsh Office Taipei said.
“This latest survey received a total of 76 responses from British business, 59 percent of which operate in the energy and semiconductor sectors. Respondents were positive about Taiwan’s economy (78 percent) and optimistic about the outlook for their business in Taiwan over the next one to three years, a growth in confidence compared to previous years,” the office said in a release on Thursday.
“Respondents have high expectations of opportunities in the energy and net zero sectors (83 percent),” it added, citing British businesses as saying that digital trade and the investment environment are improving and that they generally feel comfortable conducting business in Taiwan.
Photo courtesy of the British Office Taipei
“Fifty percent of the British businesses who responded said that Taiwan’s strengths in advanced technology was the primary reason they invested here, with the semiconductor, energy and advanced engineering sectors ranked top in Taiwan for growth potential and investment opportunities,” the office said.
Meanwhile, the annual British business survey results also noted challenges, including that “respondents think that public administration needs to be more efficient and digitalized,” while energy supply and cross-strait relations are seen as the most pressing policy challenges, especially with regard to investing into Taiwan.”
“Making renewable energy goals, plans and project requirements much clearer is seen as a pressing challenge to net zero [carbon emissions] and energy companies,” the survey results said. It added that “Domestic protectionism in the form of local content and local partnership requirements could be reduced,” while the import processes could be improved to be more in line with international standards.”
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