Taiwan has become a sought-after destination for investors who want to pull out of China. Apple has decided to increase its investment in Taiwan by building a new plant in Longtan Science Park, Taoyuan, CNA reported on Monday, according to a Taiwanese media outlet. Apple’s new plant was approved Feb. 18; the company already has an existing facility in the same hi-tech industrial development.
Many other companies are also mulling over shifting their manufacturing to Taiwan and other countries, including India.
According to Taiwanese media, there has been a spurt in demand for surgical masks after some western countries found that imported Chinese masks were defective.
The Taiwan Trade Center in Vancouver received requests to purchase 10 million surgical masks from Taiwanese manufacturers after Canada reported that 8 million Chinese N95 respirators were found to be substandard, wrote Liberty Times.
However, Taiwan has imposed restrictions on exports of medical equipment and masks. Despite that Taiwan has been inundated with inquiries about surgical mask procurement. Minister of Economic Affairs Shen Jong-chin has said the decision to end the ban is in the hands of the Central Epidemic Command Center (CECC), wrote UDN.
Meanwhile, Taiwan has decided to reduce its reliance on the Chinese market for fruit exports and plans to explore opportunities elsewhere in a bid to diversify market. According to media reports, amid the pandemic, Taiwan registered an 8.6 per cent annual drop in fruit exports during the first quarter of 2020, with sales of US$1.2 billion, according to the Council of Agriculture.
While exports to China declined drastically by 29.8 per cent, exports to the Netherlands, the U.S., and the Philippines all reported double-digit growth. Compared to the same period last year, Taiwan’s fruit shipments to the three countries rose by 17 percent, 16 percent, and 13.6 percent, respectively, wrote Liberty Times.
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