info@singaporecompanyincorporation.sg
+65 6320 1888 Call our Singapore office
Singapore Company Incorporation

Singapore Company Registration Services

  • Home
  • Services
    • Our Services
    • Company Incorporation Services
    • Relocation and Immigration Services
    • Accounting and Tax Services
    • Corporate Compliance Services
    • Offshore Incorporation Services
  • Learning Centre
    • Learn About
    • Singapore Company Setup
    • Immigration and Relocation
    • Corporate & Personal Taxation
    • Offshore Incorporation
    • Resources
    • Infographics
    • Comparative Reports
    • Frequently Asked Questions
  • Tools
    • Company Name Check
    • Tax Calculators
    • Corporate Tax Calculator
    • Personal Tax Calculator
  • Community
    • Get the Latest Updates
    • Blog
    • Press Releases
    • Job Opportunities
  • Contact
  • Incorporate Now
You are here: Home / Press Releases / Taiwan Growth Momentum Augurs Well for Singapore

Taiwan Growth Momentum Augurs Well for Singapore

May 13, 2014 IN Press Releases

According to the May 2014 issue of Asia Pacific Economic Outlook by Deloitte University Press, Taiwan is set to have a stronger 2014. SingaporeCompanyIncorporation.sg, a leading incorporation portal, is optimistic that Taiwan’s growth momentum augurs well for Singapore businesses.

According to the Outlook, Taiwan economic recovery has picked up between Q3 and Q4 of 2013. The state saw a record growth of 2.9% in Q4 2013, up from 1.3% in the previous quarter. In addition, the growth momentum continued into the first months of 2014. This is because as an economy dependent on external trade, Taiwan will benefit from the improved economic outlook of the United States and European nations. This, in turn, augurs well for Singapore businesses.

Commenting further, Ms. Cheryl Lee, Operations Manager at SingaporeCompanyIncorporation.sg said, “Singapore businesses have many opportunities to tap from Taiwan’s expected higher economic growth this year and are in good stead to benefit from stronger economic relations between Taiwan and Singapore.”

Singapore companies to benefit from Taiwan’s growth

Taiwan’s growth momentum is expected to be strong going ahead, given the improvement in the macroeconomic scenario in the United States and Euro Zone nations. According to a Reuters report titled ‘U.S. job growth jumps, but shrinking labor force a blemish,’ U.S. recently recorded a massive growth of 288,000 in its non-farm payrolls, a strong economic indicator of the country. Similarly, data from a BBC report ‘Eurozone GDP growth gathers speed’ showed that the Eurozone’s recovery moved up a gear, Germany and France grew between 0.3% and 1.3% in 2013, after periods of contraction and recession.

As a result, Taiwan’s exports that have benefited from the higher outbound trade include electronics, machinery, textiles and food services. “The higher economic growth of Taiwan is expected to boost business for Singapore companies in the days to come,” said Ms. Lee.

Strong business ties

The networking session organized by the Singapore Business Federation (SBF) last week brought some 150 Singapore and Taiwanese business representatives together on a common ground to discuss possible business partnerships. The business talks were primarily held for tapping the opportunities in the nearby economies. Taiwan, known for its pioneering electronic products and Singapore with its logistics and supply chain management expertise can leverage their respective advantages to expand business in emerging economies.

According to the economic division of Taipei’s representative office in Singapore, Singapore is Taiwan’s fifth largest trading partner, fourth largest export market and the eighth largest import market. The new business partnership agreement between Singapore and Taiwan – ASTEP, highlighted recently during a seminar last month cover a wide range of areas from custom procedures to e-commerce to competition policies.

“Taiwan’s higher growth momentum and the bilateral trade talks between Singapore and Taiwan concluded recently will only strengthen the existing economic co-operation between the two Southeast Asian nations. The result would predominantly drive synergies by mutual collaboration in a wide range of industries. Companies incorporated in Singapore will immensely benefit from the dynamics of this scenario,” concluded Ms. Lee.

Related Reading » Company Incorporation Singapore

Suggested Readings

Singapore Well-Positioned to Serve as Asian R&D Hub for Global Consumer Brands Doing Business in Singapore vs. Indonesia Closer Economic Ties with Cambodia to Benefit Singapore-based Businesses Why Singapore is Best for Doing Business
← Singapore Well-Positioned to Serve as Asian R&D Hub for Global Consumer Brands Singapore Office Rents to be Regulated to Support New Business Formation →
Singapore Company Incorporation Services Incorporation Taxation Accounting Immigration
Get a quote Request call back Have a question?

Our Services

  • Singapore Incorporation
  • Relocation and Immigration Services
  • Accounting and Tax Services
  • Offshore Incorporation Services

Learning Centre

  • Incorporate Company
  • Relocation and Employment Visas
  • Taxation & Accounting
  • Offshore Incorporation

Calculate Your Taxes

  • Personal Tax Calculator
  • Corporate Tax Calculator

Free Download

  • Download our Singapore Company Formation Guide

    Download our Singapore Company Registration Guide

  • This field is for validation purposes and should be left unchanged.

Latest Posts

  • Everything to know about the Singapore Budget 2021
  • Your Guide to Filing IR8A for Employee Earnings in Singapore
  • Q&A: Transfer Pricing Singapore Guidelines
  • 10 Recession-Proof Business Ideas
  • How family offices in Singapore can secure your legacy
  • Setting up a Company in Singapore

Contents

More Topics

  • Singapore PR Application
  • Company Secretary Singapore
  • Exempt Private Company
  • Corporate Tax in Singapore
  • Business Grants in Singapore
  • Tax Calculator
  • Responsiblity of Company's Director
  • Brand Name Registration in Singapore
  • CorpPass Singapore

Incorporation

  • Company Incorporation Singapore
  • How to Register Company in Singapore
  • Subsidiary Company Registration
  • Branch Office Registration
  • Incorporation Packages

Immigration

  • Singapore Work Visas
  • Employment Pass
  • Entrepreneur Pass
  • Personalised EP
  • Permanent Residence

Tax & Accounting

  • Corporate Tax Guide
  • Personal Tax Guide
  • Goods & Services Tax
  • Bookkeeping & Financial Statements
  • Payroll Services

Corporate

  • Corporate Secretary
  • Business Licenses
  • Trademark Registration
  • Statutory Compliance
  • De-Registration/Strike Off

Tools

  • Company Name Check
  • Personal Income Tax Calculator
  • Corporate Tax Calculator
  • Incorporation Wizard

Copyright © 2021 Singapore Company Registration & Work Visa Specialists. All Rights Reserved. | Privacy Policy | Terms of Use