Artificial intelligence (AI) medical products could become one of Taiwan’s main exports to Southeast Asia, Deputy Minister of Economic Affairs Chen Chern-chyi (陳正祺) said on Thursday.
ASEAN is the best gateway for Taiwanese firms to expand overseas, as they have already made investments in industries in the region, Chen told a forum in Taipei.
While China still produces one-third of the world’s manufactured goods, it has lost its shine due to trade disputes with the US, resulting in major changes to supply chains, he said.
Photo: CNA
The government has been helping Taiwanese businesses diversify their investments and markets by pushing the New Southbound Policy, he said.
The policy aims to enhance trade and exchanges between Taiwan and 18 countries in Southeast and South Asia, as well as Australia and New Zealand, to reduce Taiwan’s dependence on China. It was introduced after former president Tsai Ing-wen (蔡英文) took office in 2016.
Global investment in ASEAN grew 11.5 percent from 2016 to 2022, and the region’s share of global trade increased in the same period to 7.7 percent from 6.9 percent, showing its growing importance to the global economy, Chen said, citing UN data.
As part of the new administration’s plans to help businesses expand overseas, the government is expected to support Taiwanese businesses that invest in Southeast Asia, he said.
Taiwanese enterprises have a wide range of investments in the region, from investments in industries such as textiles, information and communications technology, semiconductors, electric motorcycles, smart cities, biomedicine and healthcare, Chen said.
The vision is to integrate Taiwan’s medical expertise with AI technologies and work with ASEAN in digital healthcare while exploring the region as a potential market for Taiwan’s medical and health products and services, he added.
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