TAIPEI (Taiwan News) — Businesses have high hopes for Taiwan’s economic outlook for the coming year, according to an American Chamber of Commerce Taiwan survey released on Thursday.
The poll, conducted between November and December, showed that 80% of respondents were confident about Taiwan’s business climate. More than 82% were positive about their company’s growth prospects this year, according to an AmCham report.
Respondents also said they were committed to the market, with 90% saying they plan to maintain or increase investment in Taiwan this year. Investment in digital transformation and innovation is expected to increase, while skills development and marketing remain the biggest industries.
The survey identified low salaries, lack of foreign language digital services, and road safety as some of the top issues respondents said were affecting their lives in Taiwan. Escalating tensions in the Taiwan Strait was another major concern.
Meanwhile, support for a Taiwan-US double tax avoidance agreement was practically unanimous, AmCham Chair Dan Silver said.
“Seventy percent of our members in this year’s survey see a dual taxation avoidance agreement as important for the future of the US-Taiwan economic relationship and other businesses,” he said.
Such an agreement would benefit small and medium enterprises and bilateral trade and economic relations, he added.
Silver concluded that AmCham seeks “sustained commitments” between the US and Taiwan to “build the most stable, prosperous trade and economic relationship possible.”