AJAY P.

GOWTHAM

Other names: Republic of China (ROC), Ilha Formosa (Beautiful Island in Portuguese) Capital: Taipei Climate: tropical; marine; rainy season during southwest monsoon (June to August); cloudiness is persistent and extensive all year Population: 23,315,822 Ethnic Make-up: Taiwanese 84%, mainland Chinese 14%, indigenous 2% Significance: Taiwan has an advanced service and industrial economy and is the first Chinese democratic land. Taiwanese companies lead in some sectors of electronics manufacturing. Average annual income: 556,740 Taiwan dollars (18,558 USD) 100 Indian Rupee = 55 Taiwan Dollars

 The 19th largest in the world by Purchasing power parity (PPP),

ranks as 18th in the world by gross domestic product (GDP) at purchasing power parity per capita (person) and 24th in nominal GDP of investment and foreign trade by the Republic of China (ROC) government.
Taiwan has a dynamic capitalist economy with gradually

decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics and machinery, generate about 70% of Taiwan's GDP growth, and have provided the primary impetus for economic development.

 EXPORTS

$307.1 billion (2011 est.) IMPORTS $279.4 billion (2011 est.) UNEMPLOYMENT RATE 4.4% (2011 est.) GDP - PER CAPITA (PPP) $38,200 (2011 est.) INFLATION RATE (CONSUMER PRICES) 1.4% (2011 est.) POPULATION GROWTH RATE 0.171% (2012 est.) GROWTH RATE : 1.98 % (2013)

 Annual agricultural output in Taiwan is about US$11.8

billion, or 1.5% of GDP. Farm crops account for 43.36% of this figure, followed by fisheries at 24.40%, livestock at 32.11%, and forestry at 0.13%. About 540,000 persons are employed in agriculture, and the average annual income per agricultural household is US$28,000. Agriculture accounts for 1.5% of Taiwans GDP, but its share of the economy rises to 11% if we include agriculture-related secondary and tertiary industries, such as food processing and leisure..

 Punctuality is appreciated, but being a few minutes early or late is

acceptable. Businesspeople might be late or even miss a meeting. Business cards should be printed in English on one side and Chinese on the other. Make sure that the Chinese side uses "classical" characters, the written form of Chinese used in Taiwan Businesspeople in Taiwan are hard bargainers and may try to gain concessions by wearing the other party down. Be patient. Do not push too hard or too fast in business. People in Taiwan often state their ideas clearly and without hesitation. However, they will generally not say a direct "no." Instead, they may say, "We'll try." "Yes" may mean, "I understand. Friendship is valued in business. Taiwanese businesspeople will want to know you personally before they do business with you. Show commitment, sincerity and respect for Taiwanese counterparts. Visit often and invite business counterparts to the United States.

Advantages of Doing Business in Taiwan

"Global Innovation Centre" and "Global Operations

Headquarters Superior Geographic Location, the Heart of Asia-Pacific. Labor cost is cheap and skilled labor. Competitive cost for the production and quality product outcome More easy connectivity to Japan, south Korea, mainland china, Hong Kong, Singapore and Sydney that attracts well developed country.

4g devices Mother board broadband cloud computing data loss prevention mobile device optical fibre smart phone Semi conductor telecommunication web hosting Computer hardware wireless device (Wi-Fi) wireless technology

Some of the Taiwan based companies:

ACER Inc ASUS HTC FOXCONN TECO Electric and Machinery

Transcend
D-Link (Wi-Fi) Cyber Link

R&D BASE IN TAIWAN

IBM NOKIA MICROSOFT SONY APPLE Inc HUAWEI (4G Long- Term Evolution ) 3M Taiwans green R&D HP Dell Intel Corning DuPont