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.
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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