From:
"Tai-shang (Taiwan Business) in Southeast Asia: Profile and Issues". Alan Hao Yang and Hsin-Huang Michael Hsiao. (In Y.-C. Kim (ed.), Chinese Global Production Networks in ASEAN, Understanding China. Springer International Publishing Switzerland, 2016)...
"The year of 2000 witnessed domestic regime change in Taiwan as KMT government was replaced by the Democratic Progressive Party (DPP). As President Chen Shui-bian came into power, strategic focus of “Go South Policy” had been directed to tackle with challenges of Taiwanese investment in Southeast Asia with special focus on ICT and textile mill industries. DPP government re-announced Indonesia, Malaysia, Singapore, the Philippines, and Vietnam as key countries for Taiwan’s investment. Clearly, the new waves of “Go South Policy” was designed to counterbalance Taiwanese increasing investment in China. By pushing China Steel, Formosa Plastics Group, Uni-President and Pou Chen Group to Vietnam, Taiwanese government desired to constructively engage Southeast Asian markets and governments. While KMT reclaimed power in 2008, Southeast Asia was still of strategic interest to Taiwan, with more focus on promoting ECA with regional counterparts. Since 2000, Tai-shang significantly modified its investment strategies; Vietnam became the most favored investment destination of Taiwan business, followed by Singapore and Thailand. Also, there are increasing investment projects in Indochinese countries, especially Myanmar."
AmCham noted in an April 2016 piece on Taiwan bank expansion into SE Asia...
Taiwan is now the number-four investor in Vietnam, after South Korea, Japan, and Singapore. In 2015, Taiwanese businesses invested US$674 million in Vietnam, an increase of 43.7% over the previous year. With that surge in investment came opportunity for Taiwanese banks, which last year opened 11 new branches in Vietnam. The country is now home to 31 branches of Taiwanese banks. Globally, only China has more with 43...TEEMA, the Taiwan electrical and electronic manufacturer's association, has invested in a large industrial park in Myanmar, which many savvy local friends have identified as the Next Big Thing.
In February, a total of 13 banks, eight of them Taiwanese, applied for licenses to operate in Burma. Among the Taiwanese banks, only E. Sun Commercial Bank has received approval thus far. The new round of bank licensing began late last year with the objective of boosting foreign investment in the Southeast Asian country. Burma’s Central Bank has yet to say how many licenses will be granted....
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