Premier Wu Den-yih ordered the Ministry of Economic Affairs (MOEA) today to work out measures to further boost internationalization of Taiwanese brands, after good progress has been seen in efforts to date.
According to Wu, brand internationalization is essential to help Taiwanese businesses enhance their profit potentials. Taiwan should seize the opportunities provided by the economic cooperation framework agreement signed with China in June, he said, since this allows Taiwanese businesses to use the Chinese market as a stepping stone to wider international markets.
Wu was speaking during a weekly Cabinet meeting, at which the MOEA delivered a report on its project to promote brand internationalization.
The MOEA said the project, launched in 2006, aims to help the value of five Taiwanese brands top US$1 billion by 2012, with two of them reaching US$1.5 billion.
The first part of the goal has been achieved in 2010, two years ahead of schedule, when all five brands saw their value exceed US$1 billion, the ministry said.
According to a survey conducted by global branding consultancy Interbrand, the five most valuable Taiwanese brands in 2010 are Acer (US$1.401 billion), HTC (US$1.371 billion), Asus (US$1.285 billion), Trend Micro (US$1.228 billion) and Master Kong (US$1.066 billion).