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December 2019 | Vol. 49 | Issue 12 THE AMERICAN CHAMBER OF COMMERCE IN TAIPEI IN OF COMMERCE THE AMERICAN CHAMBER Taiwan as Regional Hub: What are the Chances? 台灣成為跨國企業亞太總部 的可能性有多大？ TAIWAN BUSINESS TOPICS TAIWAN December 2019 | Vol. 49 | Issue 12 Vol. 2019 | December 中 華 郵 政 北 台 字 第 SPECIAL REPORT 2020 ECONOMIC FORECAST 5000 TAIWAN BUSINESS 號 執 照 登 記 為 雜 誌AUTOMOTIVE 交 寄 SECTOR Published by the American Chamber Of NT$150 Commerce In Taipei Read TOPICS Online at topics.amcham.com.tw 12_2019_Cover.indd 1 2019/12/4 下午9:57 AMCHAM EVENT mentation of a Patent Linkage System for pharmaceuticals as an example. President Tsai Addresses Tsai stressed her administration’s determination to build a new economic AmCham’s 2019 AGM development model for Taiwan, one that will “transform Taiwan into Asia’s ith President Tsai Ing-wen and Angela Yu of Microsoft. They join high-end manufacturing and R&D as the keynote speaker, 2019-2021 Governors Al Chang of center, a regional financial and wealth W AmCham Taipei’s 2019 Deloitte & Touche, Albert Chang of management center, and a base for Annual General Meeting was held McKinsey, Seraphim Ma of Baker & high-quality talent.” November 19 in the newly redecorated McKenzie, Jan-Hendrik Meidinger of The meeting also included a State Grand Ballroom of Shangri-La’s Far the Grand Hyatt Taipei, and Paulus of the Chamber 2019 report by Leo Eastern Plaza. The President paid tribute Mok of Citibank. Seewald, who served as the AmCham to the Chamber’s “key role in advancing Newly elected for one-year terms Taipei chairman for most of the year. Taiwan-U.S. trade relations, and in as Supervisors were Mark Horng of He highlighted the Chamber’s recent bringing new investments to Taiwan.” Bristol-Myers Squibb, Stephen Tan of achievements, including receiving the Some 230 Chamber members and International Policy Advisory Group, 2019 Corporate Community Lead- guests attended the luncheon meeting, and Terry Tsao of SEMI Taiwan. ership Award from the Community where voting was conducted for the In her speech, President Tsai also Services Center for “exceptional lead- 2020 Board of Governors and Supervi- thanked AmCham for helping to ership, service, and commitment to sors. The six Governors elected for two- “remove many obstacles for U.S. com- Taiwan.” year terms were Mark Chen of Abbott panies investing and operating in Seewald also presented the first Laboratories, CW Chin of Applied Taiwan.” She said the government lis- annual Outstanding Committee Co- Materials Taiwan, Timothy Shields of tens closely to the suggestions of chair Awards to Joyce Lee of the Public Cigna Taiwan, Gina Tsai of Airbnb, AmCham members and responds to Health Committee and Dylan Tyson of Fupei Wang of Ogilvy Public Relations, their concerns, citing the recent imple- the Insurance Committee. AmCham Taipei President Willilam Foreman presents Outstanding Board members pose with President Tsai, other Taiwan government Committee Co-chair Awards to Joyce Lee and Dylan Tyson. officials, and AIT Director Christensen. TAIWAN BUSINESS TOPICS • DECEMBER 2019 3 AGM.indd 3 2019/12/4 下午9:58 CONTENTS NEWS AND VIEWS 6 President’s View Reflecting on a year with more DECEMBER 2019 VOLUME 49, NUMBER 12 boom than doom and gloom 一○八年十二月號 By William Foreman 7 Editorial Publisher Gaining Prominence in the Region William Foreman 提升台灣在亞太地區的重要性 Editor-in-Chief Don Shapiro 8 Taiwan Briefs Deputy Editor Jeremy Olivier By Jeremy Olivier Art Director/ / 12 Issues Production Coordinator Katia Chen Starting the Review of 2019 White Manager, Publications Sales & Marketing Paper Issues Caroline Lee 開始追蹤《2019年白皮書》議題處理 Translation Kevin Chen, Yichun Chen, Charlize Hung 進度 By Don Shapiro American Chamber of Commerce in Taipei COVER SECTION 129 MinSheng East Road, Section 3, 撰文／李可珍 7F, Suite 706, Taipei 10596, Taiwan By Jane Rickards However, some lingering issues P.O. Box 17-277, Taipei, 10419 Taiwan require creative solutions if it is Tel: 2718-8226 Fax: 2718-8182 e-mail: [email protected] to compete on the same level website: http://www.amcham.com.tw as some of its neighbors. 050 22 For Some Companies, 2718-8226 2718-8182 Taiwan is Already a Taiwan Business Topics is a publication of the American Chamber of Commerce in Taipei, ROC. Contents are Regional Hub independent of and do not necessarily reflect the views of the Officers, Board of Governors, Supervisors or members. 24 Making a Hub in Wind © Copyright 2019 by the American Chamber of Commerce in Taipei, ROC. All rights reserved. Permission to reprint original Power and Technology material must be requested in writing from AmCham. Production done in-house, Printing by Farn Mei Printing Co., Ltd. R&D 使台灣成為風力發電與科技研 10866 發重鎮 5000 ISSN 1818-1961 Two industrial sectors appear particularly promising for Chairman: C.W. Chin Taiwan to develop as a Vice Chairman: Albert Chang regional center for the Asia Secretary: Fupei Wang 17 Taiwan as Regional Hub: Treasurer: Al Chang Pacific. What are the Chances? 2018-2019 Governors: Anita Chen, C.W. Chin, Daniel Tseng, Fupei Wang. 台灣成為跨國企業亞太總部的 2019-2020 Governors: 可能性有多大？ Al Chang, Albert Chang, Seraphim Ma, Jan-Hendrik Meidinger, Paulus Mok. As a center of operations for 2019 Supervisors: Vincent Shih, Terry Tsao, Dylan Tyson. local and foreign businesses COMMITTEES: across numerous industries, Agro-Chemical/ Melody Wang; Asset Management/ Eric Taiwan has a lot to offer. Lin, Angela Yang, Derek Yung; Banking/ Paulus Mok; Capital Markets/ Mandy Huang, Eric Jai, C.P. Liu; Chemical Manufacturers/ Charles Liang, Michael Wong; Cosmetics/ Shirley Chen, Abigail Lin; Digital Economy/ Max Chen, Renee Chou, Tai Chi Chuan; Energy/ Randy Tsai; Human BACKGROUNDER Resources/ Christine Chen, Carmen Law, David Tsai; Infrastructure/ Wayne Chin, Paul Lee; Insurance/ KT Lim, Mandy Shih, Linda Tsou; Intellectual Property & Licensing/ 28 Smart Manufacturing Jason Chen, Peter Dernbach, Vincent Shih; Marketing & Distribution/ Wei Hsiang; Medical Devices/ Louis Ko, Gains Ground in Taiwan Jeffrey Wang, Joanne Yao; Pharmaceutical/ Justin Chin, Rie Nakajima, Shuhei Sekiguchi; Public Health/ Joyce Faced with rising labor costs, Lee, Sophia Lee, Tim Shields; Real Estate/ Tony Chao; Taiwanese companies are increas- Retail/ Ceasar Chen, Mark Chen, Peggy Liao; Sustainable Development Goals/ Kenny Jeng, Lume Liao, Cosmas ingly utilizing the latest sophisti- Lu, Fupei Wang, Kernel Wang; Tax/ Heidi Liu, Cheli Liaw; Technology/ Cynthia Chyn, Stella Lai, Angela Yu; cated technologies to go beyond Telecommunications & Media/ Thomas Ee, David Shin, conventional automation to Joanne Tsai; Transportation & Logistics/ (tba); Travel & Tourism/ Gina Tsai, Jason Yeh. embrace Industry 4.0. By Philip Liu 4 TAIWAN BUSINESS TOPICS • DECEMBER 2019 12 contents.indd 4 2019/12/5 下午3:51 DECEMBER 2019 • VOLUME 49 NUMBER 12 TAIWAN BUSINESS 31 The Auto Industry is in Low Gear (But So Far Not in Reverse) While global auto markets faced significant setbacks and weak sales growth this year, Taiwan appears to have fared relatively well. However, challenges for domestic automakers con- tinue to intensify as consumers increasingly choose imported vehicles. By Jeremy Olivier EXECUTIVE SUITE 42 Meet Brenda Tang of United Airlines By Jeremy Olivier AMCHAM EVENTS SPECIAL REPORT 3 Annual General Meeting 35 2020 Taiwan Forecast: 16 Liver Health Forum Thriving Despite Trade War Dislocations SPONSORED CONTENT Next year, Taiwan’s economy will benefit from a steady flow of 14 Leich Capital Management capital repatriation as local man- 44 Seeing Taiwan ufacturers move capacity home The Charms of Rustic Tainan from China. By Matthew Fulco BEHIND THE NEWS 38 Modest Growth Ahead for 39 Taiwan’s Deepening Chipmakers in 2020 Diplomatic Predicament The semiconductor industry’s Left with just 15 diplomatic concentration at home provides allies, Taiwan now looks to safe- it with some insulation from the guard its most vital remaining direct effects of the U.S.-China relationships while strengthening trade war. unofficial ties with key democra- By Matthew Fulco cies. By Matthew Fulco TAIWAN BUSINESS TOPICS • DECEMBER 2019 5 12 contents.indd 5 2019/12/4 下午10:06 PRESIDENT'S VIEW Reflecting on a year with more boom than doom and gloom began this year writing about gloom and street from our hotel. Leo brought a work-hard- doom. Global volatility and the U.S.-China play-hard spirit to his role that was instrumental I trade war had me deeply worried about in helping us achieve so much and have a lot of 2019. I thought my biggest challenge was to just fun while doing it. stay positive. I’ll never forget the huge group of members For sure, there’s still plenty of turbulence, who showed up for Amy Chang’s farewell Happy upheaval, and uncertainty in the world. But Hour celebration. Amy touched so many people looking back on the past 12 months, I’ve got to during her many years leading our Government say 2019 was a great year overall for AmCham Affairs team, and it was wonderful to see them all Taipei. turn out to bid her a happy retirement. Here are just a few things that excite me and Another big crowd turned out for Don Sha- leave me hopeful for the coming year: piro, our senior director and TOPICS editor-in- • Our membership has grown, with several of chief, when he was awarded the Friendship Medal the world’s most exciting, innovative, and of Diplomacy for the 50 years he spent sharing well-known companies joining our commu- Taiwan’s story with the world. Presiding over the nity. This strengthens our position as a main event, Foreign Minister Joseph Wu told the audi- driver of innovation on Taiwan. ence that the doctoral dissertation he wrote about • We created a NextGen Leaders Program Taiwan’s democratization was full of citations to that will help cultivate and inspire high- news stories written by Don.
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