Taiwan boosts overseas expansion support with NT$600 million fund

Taiwan's Ministry of Economic Affairs is significantly boosting its support for local businesses looking to establish a presence in international markets. With a budget of NT$600 million for the upcoming year, the ministry aims to help companies navigate supply chain shifts and tariff fluctuations by building overseas distribution networks.

“

Taiwan has great energy, and through the plan, we expect annual orders to increase by 10%.

A key initiative is the formation of "Taiwan Teams," where two or more companies collaborate to enter foreign markets. These teams can receive subsidies of up to NT$20 million, a substantial increase from previous support levels. The program has also broadened its scope to include assistance with distribution, agency agreements, and after-sales repair services, empowering small and medium-sized enterprises (SMEs) to better connect with customers and adapt to local demands.

“

The Ministry of Economic Affairs will assist businesses in achieving two major work goals overseas. We will cooperate with public associations to replicate Taiwan's industrial cluster advantages.

Last year, the ministry's efforts facilitated the establishment of over 2,500 distribution channels across 44 countries, with a strong focus on Asia, which accounted for 56.9% of applications. Participating companies reported an average export growth exceeding 25%. The program is open for applications until October 30, encouraging businesses to leverage this opportunity for global expansion.

“

For companies that cannot make large-scale investments, we can help them establish showrooms or warehouses.