Hsinchu County Government actively support the central government’s New Southbound policy. On June 5, the county government held the Indonesia Investment Opportunities Forum with a team from the Indonesian Economic & Trade Office to Taipei. Its deputy representative Mr. Siswadi led the heads of its trade, investment, industry and commercial divisions to detail Indonesia’s latest investment regulations, business opportunities and tourism situations. The owners of 23 enterprises from Hsinchu County were in attendance, highly motivated to take advantage of the opportunities in Indonesia.
Hsinchu County Deputy Magistrate Yang Wen-ke stated that most of the local companies possess a good technological and service level. Considering the domestic investment environment and other factors, the government should assist enterprises seeking to expand their business to find suitable overseas investment bases. And Indonesia obviously has a great development prospect.
Mr. Siswadi said that there are about 250,000 Indonesian working in Taiwan. Through this forum, he hoped to achieve a mutually-beneficial situation in terms of trade, investment, industry and commerce. He also looked forward to holding similar events in the future.
Indonesia has a land area of 1.9 million square kilometers, which is 50 times the size of Taiwan, and has a population of 250 million people, which is 10 times more than Taiwan’s. Besides, Indonesia is the largest country in ASEAN, where members enjoy zero tariffs for import and export. The country also has a high proportion of young people, a massive domestic market and a GDP growth rate of 4.8%. What’s more, it has abundant reserves of petroleum, natural gas, coal and other natural resources.
The Industrial Commercial Development & Investment Promotion Committee said that priority items in the New Southbound policy are “economic and trade cooperation”, “talent exchange”, “resource sharing” and “regional linkage”. Indonesia is the second largest recipient of investment from Taiwan in ASEAN. Guided by the policy, Taiwan willselect competitive industries, such as the IoT system, to cooperate with local supply chains in Indonesia according to Indonesia’s industrial demands and capabilities.