AmCham President Leo Seewald Announces Results of 2021 Business Climate Survey

AmCham Taiwan President Leo Seewald announced the results of the Chamber’s 2021 Business Climate Survey (BCS) on January 21 at a press conference held on the 11th floor of the W Hotel. Around 15 media organizations were represented at the event. Seewald detailed the survey’s findings, which were illustrated in a 16-page report produced by AmCham. He emphasized that survey-takers were all business leaders in Taiwan, with most holding upper management positions at their companies.

The Chamber was excited to disclose that a record percentage of respondents – close to 86% – expressed confidence about the economic prospects for the coming year, 16 percentage points higher than in the 2020 survey. There was also a record high level of optimism regarding the 3-year economic outlook, although it was a slightly lower 78%. Seewald observed that this could indicate businesses’ concern about the future trajectory of the global economy.

2021 Business Climate Survey: AmCham President Leo Seewald presents results

In regard to Taiwan’s efforts to control the COVID-19 pandemic, members nearly unanimously expressed their satisfaction. A high 64% said they were very satisfied or somewhat satisfied with the economic relief efforts over the past year, a 23 percentage point increase from when that question was posed to members in a COVID-19 flash survey conducted last April.

Overall, Seewald said, the results of the BCS reflect the consensus among member companies that Taiwan is an overwhelmingly positive environment for multinationals. Furthermore, the U.S.-China trade dispute and Taiwan’s excellent handling of COVID-19 have presented it with a golden opportunity, one that it needs to take advantage of, particularly in the areas of bilingualism and attracting and retaining foreign talent. As a representative of the international business community in Taiwan with a stake in its future prosperity, AmCham is more than willing to aid in any way it can.

Fielding questions from reporters, Seewald said that he didn’t expect a drastic change in the U.S.’ policy toward Taiwan now that President Joseph R. Biden Jr. has taken office. In any case, he said, such policy is not just the will of the president, but rather requires consensus from everyone in the government. Fortunately, there has been a growing recognition across the political aisle in Washington that Taiwan is a valuable partner with shared values and a similar global outlook.

A luncheon gathering followed the press conference at the W Hotel’s 8th-floor ballroom. AmCham Chairperson CW Chin presented the BCS results to an audience of 70 members and their guests. National Development Council Deputy Minister Shih Keh-her also provided some brief remarks, thanking Chamber members for their strong show of confidence in the Taiwan economy and highlighting the government’s major initiatives to drive development and improve the island’s business environment.

See the full presentation below or download the complete report, click here.

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Note: AmCham events are intended primarily for AmCham members and their guests. Many events are open to members’ guests and other non-members, but the attendance of any non-member must be approved in advance. AmCham reserves the right not to admit a non-member to any event without explanation.

Deputy Minister C.C. Chen Addresses AmCham Luncheon

AmCham was honored to invite Deputy Minister of Economic Affairs Chen Chern-chyi (“C.C. Chen”) to speak on January 6 at its first luncheon of 2021 – and its first event as the American Chamber of Commerce in Taiwan – held in the Sherwood Taipei’s third-floor ballroom. Deputy Minister Chen addressed an audience of nearly 80 members and their guests, detailing the progress made at the inaugural U.S.-Taiwan Economic Prosperity Partnership Dialogue (EPPD) that took place last November.

AmCham Taiwan President Leo Seewald provided some opening remarks, introducing the speaker and briefing members on upcoming events. Seewald highlighted the importance of the EPPD as one of the growing number of avenues for meaningful engagement between Taiwan and the U.S. “We’ve always been focused on free trade agreements and bilateral trade agreements – the big stuff – but this is a different way to work toward those goals,” he said, before giving the floor to Deputy Minister Chen.

As the leader of the Taiwanese delegation to the EPPD, Chen had some particularly eye-opening insights into the current economic relationship between the U.S. and Taiwan, as well as where it is heading. In his speech, he noted that the U.S. Department of State-led initiative was aimed at encouraging strategic cooperation and ensuring economic security through prosperity.

The dialogue also included discussion on how to provide a platform for U.S. businesses to restructure their global supply chains, with an eye to promoting Taiwan as a capable, complementary, trusted partner in this process. Both sides view the following areas as advantageous for U.S.-Taiwan supply chain collaboration:

  • Semiconductors, communications, AI, and other cutting-edge technologies
  • Innovative green energy
  • Strategic medical stockpile
  • Electric vehicles

Chen emphasized that the EPPD is no less significant than the Trade and Investment Framework Agreement (TIFA) talks that took place between his ministry and the Office of the U.S. Trade Representative over several years – and which stalled out in 2016. It may even be as significant as a free trade agreement, he said, in that it represents a political commitment and a bipartisan consensus in Washington regarding Taiwan. It also stands for a “consensus between governments and the business community.”

Looking ahead, Chen said that the incoming Biden administration’s emphasis on improving the U.S. economy underscores the value of the EPPD and of Taiwan’s status as a strong economic partner. He called the dialogue a “living platform,” and noted its importance to strengthening the supply side of the U.S.-Taiwan economic relationship. However, a platform for advancing the market side is still needed. Therefore, Chen concluded, he and his colleagues in government will continue in their unwavering pursuit of a U.S.-Taiwan bilateral trade agreement moving forward.

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Note: AmCham events are intended primarily for AmCham members and their guests. Many events are open to members’ guests and other non-members, but the attendance of any non-member must be approved in advance. AmCham reserves the right not to admit a non-member to any event without explanation.

Widening Access to Advanced Medical Technologies

Continuing the dialogue surrounding precision medicines and patient-centered care from a similar event three years earlier, the U.S.-Taiwan Innovative Patient-Centered Care Symposium, co-hosted by AmCham Taipei and the American Institute in Taiwan (AIT), took place at the AIT compound in Neihu on December 18. The aim of the event was to demonstrate the value of innovation and explore the impact that advanced U.S. medical technology could have in Taiwan.

The event sponsors were Abbott Vascular, Edwards Lifesciences (Taiwan), Intuitive Surgical Sarl Taiwan Branch, and Novartis.

Opening remarks were delivered by AIT Director W. Brent Christensen and AmCham President Leo Seewald. The event featured presentations on the latest US medical technologies and success stories shared by several local doctors and medical experts. The speakers were former Vice President Chen Chien-jen; Deputy Minister of Health and Welfare Hsueh Jui-yuan; Wang Jaw-yuan, attending physician in the Division of Colorectal Surgery at Kaohsiung Medical University Chung-Ho Memorial Hospital and a professor at Kaohsiung Medical University; Jong Yuh-jyh, President of the Kaohsiung Medical University; Shih Chun-che, Vice Superintendent of the Taipei Municipal Wanfang Hospital; and Lu Tse-min, Chief in the Division of Cardiology, Taipei Veterans General Hospital.

Among the medical technologies introduced were surgical robotics, gene therapy, innovations for structural heart disease, and advanced medical imaging. The medical experts shared personal stories of how innovative technology have helped to improve the quality of their patients’ lives. They particularly emphasized the importance of expanding access to the latest treatments. Although advanced medical technology requires higher healthcare expenditures, it enables healthcare providers to increase productivity, enhance treatment procedures, and improve clinical outcomes, thereby delivering life-enhancing care for patients.

In concluding remarks, former Vice President Chen expressed optimism that the signing of a bilateral cooperation agreement during U.S. Secretary of Health and Human Services Alex Azar’s recent visit would enhance government and business collaboration between Taiwan and the U.S., as well as the sharing of information.

While many innovative U.S. medical technologies are available in Taiwan, cost considerations often pose an obstacle to their widespread adoption. A key theme of the forum was the need for Taiwan’s National Health Insurance program and the private U.S. healthcare sector to work together to identify priorities and implement policies to promote broader access in Taiwan to advanced healthcare treatments.

Interested in attending our events? Join us at other upcoming events, click here.

Note: AmCham events are intended primarily for AmCham members and their guests. Many events are open to members’ guests and other non-members, but the attendance of any non-member must be approved in advance. AmCham reserves the right not to admit a non-member to any event without explanation.