Taiwan in a nutshell is a small island about the size of Belgium or Switzerland, located between Japan and the Philippines, off the southeastern coast of China. It is rich in heritage and culture, with incredibly beautiful and colourful temples to visit, a plethora of hot spring resorts in which to relax, an inordinate amount of jaw-dropping mountainous terrain for hiking and extensive cycle infrastructures for biking, especially in its capital Taipei. You will also never be caught off guard with their 7-11 convenience stores offering you more than your pint of milk or loaf of bread; at any time of night you can pay your bills, call a taxi, send a parcel and much more. However, if you were hoping to buy an ice cream on hearing music being played by a truck, think again, they only want your rubbish! The sounds of Beethoven’s Für Elise emanate from rubbish trucks to remind locals that it’s rubbish o’clock!
As for business, Taiwan is an important gateway to the emerging markets of Asia, in particular China, as well as being strategically located at the heart of Asia-Pacific. For those businesses planning to invest internationally it would do well to know that the most important industrial export sector in Taiwan is technology; in other words electronics, being the world’s biggest supplier of computer monitors, as well as leader in computer manufacturing. Other bonuses are its well-educated workforce and its low corporate tax rates.
So, if you are planning to solidify your business relationship with your Taiwanese counterparts at the start, abiding by certain rules of conduct and embracing particular cultural aspects will go a long way to helping your cause. Below you will find a few useful tips to help you accomplish your mission in Taiwan!
By taking on board these cultural considerations and many more your Taiwan business mission is complete.
By Madeline Prusmann, Project Manager, November 2017
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