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🇹🇼 Taiwan /Economy & Trade

Taiwanese firms urged to seize global market opportunities as supply chains reshuffle

From Liberty Times · () Chinese

Translated from Chinese, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • Taiwan's economic institute identifies trust, responsibility, and resilience as key for businesses expanding internationally.
  • These three capabilities are increasingly important for global brands selecting supply chain partners.
  • Taiwan's existing strengths in these areas present a prime opportunity for its companies to grow in overseas markets.

Taiwan's economic institute has identified trust, responsibility, and resilience as the three core capabilities essential for businesses aiming to expand into international markets. These factors are becoming more critical than traditional metrics like product quality and delivery times, as the global landscape shifts due to geopolitical tensions and supply chain restructuring.

The key is no longer just product quality, but establishing the three core capabilities of 'trust,' 'responsibility,' and 'resilience' to achieve long-term competitive advantage in the global market.

— Chou Hsia-liVice president of the Taiwan Institute of Economic Research, explaining the new criteria for international market success.

According to Chou Hsia-li, vice president of the Taiwan Institute of Economic Research, "trust" now encompasses not only national and industrial image but also national security, industrial safety, and information security. This expanded definition means that a company's safety capabilities are a crucial component of brand trust.

Trust is no longer just about product quality and delivery times, but extends to national security, industrial safety, and information security.

— Chou Hsia-liDefining the expanded scope of 'trust' in the current business environment.

"Responsibility," particularly in the realm of sustainable development, is also gaining prominence. Companies' commitment to environmental protection, sustainable manufacturing, and product lifecycle management directly impacts their brand image and competitiveness. Simultaneously, the pursuit of efficiency in long supply chains is giving way to shorter, more resilient models. The disruptions caused by the COVID-19 pandemic have underscored the importance of supply chain stability, making "resilience" a non-negotiable capability for global market strategies.

Resilience has become an indispensable capability for companies deploying globally.

— Chou Hsia-liHighlighting the importance of supply chain stability in the face of global disruptions.

Chou believes that these three capabilities, trust, responsibility, and resilience, are not only vital for Taiwanese companies venturing abroad but also represent the most valued standards for international corporations seeking supply chain partners. The current global environment, marked by geopolitical shifts and the AI wave, presents an optimal moment for Taiwanese businesses to leverage their established national trust, robust supply chains, and commitment to sustainability to enhance their global presence.

Trust, responsibility, and resilience are not only important conditions for Taiwanese companies to advance in the international market, but also the most valued standards when global brands choose supply chain partners.

— Chou Hsia-liSummarizing the critical factors for international business success.
DistantNews Editorial

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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