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2018-11-13
Port of Taichung Mitsui Outlet Park Set for 12-12 Grand Opening!
Mitsui Outlet Park, Taichung City’s first large-scale shopping mall, is on course for a spectacular grand opening on December 12th! Taichung Port’s new integrated leisure and recreation destination Mitsui Outlet Park occupies a generous, 18-ha stretch of port land. Phase I welcomes the opening of 170 retail shops and outlets, including famous makers such as TUMI, The North Face, Timberland, and Stage; restaurants including Ivorish, Bulls, Kintan Buffet, Kaneko Hannosuke, and Sanwa Japanese Restaurant; and entertainment providers such as Snow Town and Asobi Square, as well as a stunning new Ferris wheel offering unbeatable coastal views. The Port of Taichung notes that Mitsui Outlet Park’s design concept, “Enjoy the Voyage of Style”, will unfold through a progressively expanding tapestry of places, connections, and spaces that synchronize with and accentuate the port’s leisure image. Already installed and accessible to visitors include the public art installation “Mazu Crossing the Sea”, newly landscaped green spaces, and the Port of Taichung “Secret Garden” area. The port’s next major public art installation piece, “Smart Symbiosis” is scheduled to be unveiled on November 17th. The Port of Taichung is an international commercial port with a diverse business portfolio, including a green industry district, port logistics district, and tourism and leisure district. The opening of Mitsui Outlet Park sets the port’s tourism and leisure mechanism in motion and anticipates the addition of new hotels and entertainment / leisure facilities. Convenient connections to Taichung Port destinations via the city’s light rail / MRT network will also give visitors easy light-rail access to Wuqi Fishing Port, the Gaomei Wetlands, the Maritime Ecological Aquarium, Dajia’s Mazu Temple, and other area travel destinations, making the port a central coast spotlight destination and giving the Port of Taichung an exciting, new image. Looking ahead, in addition to continuing its recruitment of an eclectically diverse array of tourism/leisure sector investors, the Port of Taichung will support the development of wind-turbine logistics and assembly facilities that will be necessary to realize the government’s long-term offshore wind-turbine development program. The Port of Taichung will thus increasingly become a sustainable nexus of both recreation and green energy.
2018-10-16
Yiin Chuen Logistics - Warehousing Sets Up Shop in Port of Taichung’s Port Industries Development Zone
The Port of Taichung, TIPC has announced important progress in its work to recruit new business to the Port of Taichung Port Industries Development Zone. The port’s recent open review of requests to invest in and develop approximately 18,000m2 of land in the Port Industries Development Zone (Phase I) resulted in the selection of the bid submitted by Yiin Chuen Logistics and Warehousing Co., Ltd. as the best. Yiin Chuen’s proposed factory facility, once completed, is expected to generate NT$300 million in annual revenues. Yiin Chuen Logistics & Warehousing was founded in Taoyuan in 1979 as Yiin Chuen Machinery Co., a manufacturer and exporter of water-jet looms. The domestic and international success of its products gave Yiin Chuen a worldwide clientele, which supported the company’s diversification in 2003 into logistics and warehousing. Yiin Chuen set up its Taichung Port branch in the Port of Taichung MOEA Export Processing Zone in 2004, established the Yiin Chuen Warehouse (Yiin Chuen Facility No. 1), and built Facility No. 2 in 2006. The company today has 15 years of dedicated experience in the logistics sector. Yiin Chuen plans to use its latest investment to establish additional logistics warehouse facilities that will be used in its logistics, container packing / unpacking, cargo storage, and reexport business operations. Furthermore, Yiin Chuen will open a high-tech handling area specifically to take care of the specialized needs of clients in the high-tech sector. The company plans to invest NT$400 million, break ground in early 2019, and start operating in January 2020. Once fully operational, the site is expected to generate around NT$300 million in annual revenues. In a statement, officials of the Port of Taichung remarked that the nearly 55.45ha of remaining land available in the Port Industries Development Zone will be gradually organized into several bids and offered up for investment and development. The port hopes to foster a mutually supportive industry cluster, increase the effective utilization of available land in the port, and generate new jobs and economic opportunity in the area.
2018-09-20
2018 Global Harbor Cities Forum Set to Give New, Positive Forward Momentum to Port-City Cooperation
All is set and ready to go for the 2018 Global Harbor Cities Forum scheduled for September 25th – 27th at the Kaohsiung Exhibition Center in the southern Taiwan metropolis of Kaohsiung. The Kaohsiung City Government is this year’s forum sponsor, while the Taiwan International Ports Corporation (TIPC) has been tasked to plan and organize three of the sessions. It is hoped that the forum will further deepen port-harbor synergies in Kaohsiung City through increased interaction and cooperation and will move both ever closer to high “harbor city” ideals. As with the 1st Global Harbor Cities Forum in 2016, the 2nd forum is being held in Kaohsiung City with the objectives of extending and deepening cooperation and sharing among the world’s “harbor cities”. The theme of this year’s forum is “Here and Beyond: Forces Affecting Our Future”, with subtopics addressing “youthful innovation and startups”, “conventions and tourism”, “sustainable green environments”, “the new maritime economy”, and “new smart cities”. Top experts and scholars from around the world will serve as moderators, speakers, and panelists, giving participants prescient and practical insights into market trends worldwide. TIPC is taking the lead on arranging the two subtopics “the new maritime economy” and “new smart cities”. Focusing, respectively, on cruise ships and smart ports, TIPC has invited 10 international and 5 domestic eminent experts to share their relevant experiences and insights regarding the latest trends, the key challenges, and the key opportunities for innovation and transformation. One of the issues to be addressed under the subtopic of “the new maritime economy” is the recent strong growth in the cruise vacation industry in East Asia and how TIPC is working to retool its infrastructure and services to take strategic advantage of the new “cruise economy”. Year-on-year cruise passenger numbers have been growing exponentially since 2012, with an expanded network of Asia-Pacific routes adding fuel to the cruise tourism boom and opening up major new opportunities for business. On the issue “Opportunities for Cooperation at the Intersection of Asia Cruise Routes and Port-of-Call Cities”, TIPC plans to focus discussions on two key aspects. Two international cruise ship executives and representatives from one Japanese and one South Korean port city will launch into discussions of the East Asia route planning activities of cruise ship companies, successful examples of cruise company – city cooperation enhancing the attractiveness of specific port-of-call destinations, and benchmark examples of how harbor cities in East Asia have positively and successfully enhanced their soft and hard tourism infrastructures. Advancing technologies are making artificial intelligence (AI) a force that is both challenging and reshaping nearly every industry. TIPC addresses AI trends in the “new smart cities” subtopic in two discussion sessions, respectively entitled “A Blueprint for Developing Smart Ports” and “AI Applications in the Port Sector – Developments in Self-Navigating Boats and Container Yard Automation”. Commercial port operations are at the core of TIPC’s business, and the company works constantly to maximize and improve its operating efficiencies and flexibility. The recent consolidation and reorganization of the global shipping industry in recent years highlights the ongoing trend in the market toward fewer companies with significantly greater size and influence. The continued trend toward larger commercial container ships is driving ports to focus development on honing operational efficiencies and on making effective use of automation. Thus, in the session “A Blueprint for Developing Smart Ports”, TIPC has invited representatives from ports at the forefront of the smart-port movement in Japan and South Korea to share the bottlenecks encountered during implementation, the related solutions, and the resultant benefits. Their insights will provide critical references to TIPC’s ongoing and future work to promote world-class smart ports in Taiwan. In the session “AI Applications in the Port Sector – Developments in Self-Navigating Boats and Container Yard Automation”, TIPC has invited representatives from companies at the forefront of promoting self-navigation technologies and automated container yard systems. A representative from a Norwegian-based tech firm will take the stage to share the current state of development for both technologies from his company’s perspective. TIPC has expressed that this year’s Global Harbor Cities Forum is uniquely innovative, diverse, and international. With the active support of TIPC and lively, productive interactions between the GHCF attendees and the domestic and international experts, this forum promises to be an engine of harbor-city industry transformation and urban development and to suggest promising directions for innovation and breakthroughs in international port operations and sustainable environmental management. * Contact:Nai-wen Chang * Phone:07-5219000#3301
Advantages
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Taiwan is a 1.5-to 5- hour flight from major cities in Asia
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High degree of acceptiveness of local consumers to innovation and international content makes Taiwan an ideal site for pilot projects
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A complete upstream-to-downstrem industry chain and talent to develop the echnology services industry
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Taiwan has ranked 15th in Ease of Doing Business in 2020 among the 190 economies covered
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A strong manufacturing newtwork favors the development of peripheral service industries
Focus of Policy
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Free Trade Zones
Taiwan has set up "free trade zones" at six seaports and one airport. Companies setting up operations in the free trade zones may engage in businesses such as trade, warehousing, logistics, container (cargo) terminal operations, transshipment, transit, freight forwarding, customs clearance services, assembly, sorting, packaging, repair, fabrication, processing, manufacturing, inspection, testing, display, and technical services.
Free trade zones are subject to minimal regulation and granted a high degree of autonomy to allow for convenient movement of goods and people.
The customs duties, commodity taxes, business taxes, trade promotion service fees, and port dues are exempted for goods, machinery, and equipment imported into a free trade zone from foreign countries. A zero tax rate for business tax applies to goods, machinery, equipment, or labor that are sold in domestic taxed areas or bonded areas zone, or are used for operations in free trade zones. In addition, profit-seeking enterprises which engage only in preparatory or auxiliary business activities within the territory of Taiwan and have applied for and obtained qualifications are exempted from paying the profit-seeking enterprise income tax for both domestic sales and exports of their products. -
Promotion Plan for Strengthening Investment in Strategic Service Industries
The National Development Fund (NDF) of the Executive Yuan allocated a budget of NT$10 billion for investment with its partner, a professional investment management company, to execute the Plan. The main investees include the information service industry, Chinese-language e-commerce, digital content, cloud computing, the convention and exhibition industry, smart retail, gourmet food internationalization, international logistics, healthcare, health promotion, design services, chain and franchise businesses, tourism and travel, energy service companies, and other "strategic service industries" identified by the program.
The Plan provides information on strategic cooperation, technologies, and business opportunities for companies and it also offers customized and in-depth fundraising advisory services based on the unique characteristics of each company. It also refers companies to other advisory services or programs based on requirements to help companies increase investment performance and reduce investment barriers.
Tax Incentives
- The profit-seeking enterprise income tax rate is 20%.
- Up to 15% of the company's R&D expenditures may be deducted from its profit-seeking enterprise income tax for current year; or up to 10% of such expenditures may be credited over three years against the profit-seeking enterprise income tax payable by the company.
- Royalty payments to foreign companies for imported new production technologies or products that use patents, copyrights, or other special rights owned by foreign companies is, with the approval of the Industrial Development Bureau, MOEA, exempt from the corporate income tax.
- Imported machinery which local manufacturers cannot produce are eligible for duty-free treatment.
- Investment in smart machinery/5G: For investments of no less than NT$1 million and no more than NT$1 billion, either "5% of investment spending deducted from profit-seeking enterprise income tax (current FY)" or "3% of investment spending deducted from profit-seeking enterprise income tax, if total spending spread over three years" may be selected, but the total amount deducted may not exceed 30% of corporate income tax that year. The applicable period is expected to be extended to December 31, 2024.
- A company employee who has obtained stock compensation worth a combined total of less than NT$5 million and continuously held the stock while remaining in the company's employ for at least two years may choose to be taxed on the market price of the stock at either the time the stock was obtained or the time the stock is sold, whichever is lower.
- Foreign special professionals who meet criteria are eligible for a 50% deduction of total income tax for amounts exceeding NT$3 million.
- Companies that set up operations in export processing zones, science industrial parks, or free trade ports are eligible for exemptions on import duties, commodity tax, and business tax for the import of machinery and equipment, ingredients, fuel, materials, and semi-finished products for their own use.
- Companies that use undistributed earnings to engage in substantive investments may exclude the amount when calculating their profit-seeking enterprise income tax.
Research and Development Subsidies
Success Stories
Logistics and Transportation Services
- The German company DHL established a service center in Taoyuan in 2019. The service center will be used to strengthen the connection between its operations in Taiwan and the supply chains of the Group in more than 220 countries/regions. The American company UPS expanded its investments in Taiwan and inaugurated a logistics center in February 2020. The logistics center will boost the Group's smart logistics network and strengthen the links and competitiveness of customers and the Company's supply chain.
E-commerce Services
- Japan's largest e-commerce platform, Rakuten Group, established Taiwan Rakuten Ichiba, Inc. in Taiwan in 2008. This represented Rakuten's first step in its expansion into overseas markets. Due to the impact of the pandemic, many brick-and-mortar stores have sought to shift their operations to e-commerce. Taiwan Rakuten formed the "E-commerce Advisory Team" to provide online instructions and other resources to help businesses make the digital transition.
- SGH Global Japan of SGHoldings Group and the e-commerce operator PChome signed a Memorandum of Understanding (MOU) in February 2021 to jointly launch one-stop cross-border e-commerce services. Japanese company ITOCHU Corporation announced an increase of its equity stake in Taiwan Pelican Express in March 2021 to expand the scale of e-commerce operations in Taiwan. It also invested in the deferred payment service "Paidy" and established Tri-Link Asia Inc.
Source: InvesTaiwan
Contact
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InvesTaiwan Service Center
Email:service@invest.org.tw / Information Window for Key Innovative Industries
Add: 10046 8F, No.1 Xiangyang Road, Taipei, Taiwan
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Key Innovative Industries in Taiwan - International Logistics and E-commerce (9.81MB)