Taiwan – Railways - background brief
Published 23 January 2015
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This publication was archived on 4 July 2016
This article is no longer current. Please refer to Overseas Business Risk - Taiwan
Summary
Baroness Kramer will will shortly lead a rail mission of 14 UK companies and organisations, meeting key Taiwanese Ministers and calling on the newly elected Mayor of Taipei.
Detail
Economy
Consistently high GDP growth of at least 5% annually for five decades up to 2008 transformed Taiwan into a developed, prosperous, export-driven economy – the 27th largest in the world. Its competitive advantage lies in high-tech and capital intensive manufacturing. For example, Taiwanese companies manufacture over 90% of the world’s laptops, Apple’s iPhone and Sony’s Playstation 4. It has its own big brands too, like HTC, Acer and Asus.
While Taiwan’s economy is sensitive to global business cycles and consumer demand, it is now expected to average 4% GDP growth over the next five years.
Business Opportunities
Taiwan will build six new metro lines and upgrade its railways over the next 15 years at an estimated value of £11.4 billion. Of this, we estimate the potential contract value for UK businesses to be £100 million from 2015 to 2018. In support of these High Value Opportunities, Baroness Kramer will lead a mission of 14 UK rail companies and organisations organised by UKTI and the Railway Industry Association. She will promote the UK’s excellence in traditional railway and metro lines, station development and urban renewal during a keynote speech at the UK-Taiwan rail seminar of 150 industry delegates. Following this Baroness Kramer will meet Taiwanese media to sell the UK’s expertise in this sector.
The Minister will be able to directly support UK interest in contracts worth between £50 million to £100 million includingcovering signalling, Taoyuan International Airport expansion and new metro lines. She will also promote UK expertise on cities (including smart cities) and urban renewal.
Baroness Kramer and the mission will lunch with key personnel at CTCI, the largest engineering, procurement & construction firm in Taiwan; and she will lunch with representatives of major UK companies based in Taiwan to discuss doing business in this market. Following a visit to the Taoyuan terminus of the Taiwan Taoyuan Airport Rail Link, she will be the guest of honour at a gala dinner.
Baroness Kramer and the mission will meet ministers responsible for transport infrastructure, construction and public procurement, and environmental protection as well as the new mayor of Taipei.
Inward Investment
Baroness Kramer will also meet key Taiwanese inward investors.
Disclaimer
The purpose of the FCO Country Update(s) for Business (”the Report”) prepared by UK Trade & Investment (UKTI) is to provide information and related comment to help recipients form their own judgments about making business decisions as to whether to invest or operate in a particular country. The Report’s contents were believed (at the time that the Report was prepared) to be reliable, but no representations or warranties, express or implied, are made or given by UKTI or its parent Departments (the Foreign and Commonwealth Office (FCO) and the Department for Business, Innovation and Skills (BIS)) as to the accuracy of the Report, its completeness or its suitability for any purpose. In particular, none of the Report’s contents should be construed as advice or solicitation to purchase or sell securities, commodities or any other form of financial instrument. No liability is accepted by UKTI, the FCO or BIS for any loss or damage (whether consequential or otherwise) which may arise out of or in connection with the Report.