News in Taiwan

According to the latest data released by Taiwan's Directorate-General of Budget, Accounting and Statistics (DGBAS), the country's job vacancy rate has dropped to a record low of 2.57% in the first half of 2023, indicating the impact of global economic conditions on the local job market. The manufacturing sector has witnessed the most significant decline in job vacancies, while employer willingness for salary increases has also diminished. The DGBAS conducts a biannual survey in February and August to gauge the employment status of business establishments. The survey reflects the changes in labor demand during the first and second halves of the year, providing insights into job vacancies and employment opportunities. The survey for the first half of this year reveals that the job vacancy rate in the industrial and service sectors has decreased to 2.57%, the lowest level in the past 13 years. Table shows a summary of the job vacancy rates in different sectors over the past four y

Taiwan has recently revised its "Renewable Energy Development Act", expanding the definition of offshore wind energy, accelerating geothermal development processes, and mandating that a certain proportion of rooftop solar systems be installed in newly constructed or renovated buildings. The revised law eliminates territorial sea constraints on offshore wind energy, promoting dual-purpose use of hydroelectric facilities for power generation. This move aims to find more diversified marine utilization fields that strike a balance between environmental protection and fisheries in broader sea areas. Another crucial shift is towards geothermal energy. The law includes a new chapter dedicated to geothermal energy, increasing the water rights period to 20 years to match the operational lifespan of power plants. In addition, the regulation mandates a 90% reinjection rate of used water after power generation, ensuring the sustainable use of local natural resources. Furthermore, the la

 Within the Shalun Smart Green Energy Science City, located in the Tainan High-Speed Rail Special Zone, various opportunities await the green energy technology industry. This vibrant hub not only boasts excellent transportation connections but is also surrounded by renowned academic institutions such as National Cheng Kung University, National Yang-Ming University, and Chang Jung Christian University. Moreover, it enjoys the presence of three esteemed national research institutes—Industrial Technology Research Institute (ITRI), Academia Sinica, and National Applied Research Laboratories (NARLabs). The Shalun Smart Green Energy Science City encompasses different key areas dedicated to specific purposes. These include the Taiwan Autonomous Vehicle Testing Lab, the Smart Green Energy Circular Housing Park, the Greater Tainan Convention and Exhibition Center (Zone A), industry-specific zones (Zones B, F, and X), the Cybersecurity and Smart Technology Research and Development Building (Zone

In light of recent developments in negotiations between Taiwanese media outlets and international platforms, the Taiwanese government is taking proactive steps to address the issue through legislation. Amidst two rounds of discussions that took place from December 2022 to the present, Google emerged as the sole proponent of a digital news co-prosperity fund, while Meta declined to engage in bargaining. Internationally, countries such as Australia, France, and the Czech Republic have already completed their legal frameworks regarding media platform bargaining. Canada, New Zealand, and the United States have entered the legal process as well. Facing similar challenges within our domestic news media landscape, the Taiwanese government, across various administrative departments, holds a firm stance that news has inherent value. Consequently, interdepartmental working groups have commenced studies on relevant legal pro cesses. Various legal approaches are being explored, including neighbori

The Ministry of Economic Affairs recently released the April statistics on Taiwan's export orders. Let's take a closer look at the country's export performance across different regions. While orders from the United States, Mainland China and Hong Kong, and Europe continued to decline, Japan and ASEAN countries experienced growth thanks to digital transformation, demand for automotive chips, and investments in automotive panels. In April, Taiwan's total export orders amounted to $42.49 billion, marking an 18.1% year-on-year decrease and extending the streak of eight consecutive months of decline. When analyzing exports by region, both Europe and the Americas showed declines primarily in the information and communication technology (ICT) and electronics sectors. Specifically, the United States saw its order amount decrease to $13.25 billion, ranking as the third lowest for the same month in recent years, with a 15.2% decrease compared to the previous year. This decline in

Taiwan has successfully passed a significant amendment to its  Personal Data Protection Act , marking a significant step in the fight against fraud cases and securing the privacy of personal data. The National Development Council (NDC) announced that businesses failing to adequately protect personal data, resulting in leaks, will face increased fines ranging from 20,000 to 2 million NTD. In severe cases, or those who fail to rectify the situation within a specified period, fines could reach between 150,000 and 15 million TWD. This significant increase in penalties aims to deter data leaks and raise awareness among businesses about the importance of personal data protection. Apart from escalating the penalties, the amendment also introduces a new provision that clearly designates the "Personal Data Protection Committee" as the governing body for future personal data protection. This move echoes the Constitutional Court's ruling No. 13 last August, fulfilling the demand for

In a significant move to enhance Taiwan's industrial competitiveness, the Legislative Yuan has passed the amendment to the Organization Act of the Ministry of Economic Affairs, as part of the government's organizational restructuring efforts. The Ministry of Economic Affairs will establish five new agencies, as highlighted in the recent legislative approval. The transformation aims to adapt to the diverse development of industries and elevate Taiwan's competitive edge in the global market. Among the changes, the Department of Commerce will be upgraded to the Bureau of Business Development (name to be confirmed). This upgrade signifies the government's commitment to providing increased resources and support for businesses, ultimately enhancing Taiwan's international competitiveness. Furthermore, the Bureau of Mines and Central Geological Survey will merge into the newly formed Geological Survey and Mining Management Center. This integration will streamline operations

 In a strategic move to fortify national cybersecurity, the Taiwan Stock Exchange (TWSE), in collaboration with the Financial Supervisory Commission, has initiated a comprehensive set of regulations and measures. This action is catalyzed by the increasing prevalence of information security issues within both enterprises and the financial sector. The TWSE, as part of this initiative, has orchestrated the formation of a dedicated 'Interdepartmental Cybersecurity Task Force.' Concurrently, key regulations have been amended to reinforce the framework of information security. These include the 'Regulations Governing Information to be Published in Annual Reports of Public Companies' and the 'Establishing Information Security Inspection Mechanisms for Securities Firms.' Five principal measures have been introduced to strengthen cybersecurity management. Firstly, the allocation of human resources for cybersecurity risk control is emphasized, encouraging firms to establi

The Taiwan Legislative Yuan has passed a bill to reform the Environmental Protection Administration (EPA). As a result, the EPA will be transformed into the Ministry of Environmental Protection, and four new third-level agencies will be established, along with the National Environmental Research Institute. These new agencies will be responsible for addressing issues related to climate change, resource circulation, environmental management, and chemical substance management. The bill comes in response to the global trend of achieving net-zero emissions and combating climate change . The government is shifting its focus from "managing natural resources" to "actively responding to the global environmental situation and creating opportunities for Taiwan's transition." By integrating responsibilities and expanding its operations, the government hopes to systematically address the five major environmental issues of climate change, resource circulation, chemical subst

The Ministry of Digital Affairs(MODA) in Taiwan has launched a new subsidy program to promote the development of AI technology and innovative applications. In order to assist industries in digital transformation and enhance business operational efficiency, potential teams will be guided and funded to develop AI applications and other cutting-edge technology. The new AI technology solutions not only benefit domestic industries but also have the potential to expand into international markets. Previous successful AI application developments by startup companies include AI pathology automatic diagnostic systems, which apply AI technology to the diagnosis of pathologies such as nasopharyngeal carcinoma, stomach cancer, and lung cancer, and have been successfully introduced into large medical centers. Additionally, the AIoT digital management system in the manufacturing industry, such as the AI virtual foreman, has been successfully introduced into the factory field, remotely monitoring fact

Taiwan is taking a strong stance against investment scams with the implementation of its "Anti-Fraud Three Laws". These new measures aim to combat investment fraud on the internet, increase transparency in online advertising, and promote investor protection. The "Anti-Fraud Three Laws" consist of amendments to three existing laws, namely the Money Laundering Control Act, the Securities Investment Trust and Consulting Act, and the Personal Data Protection Act. The amendments aim to address the rising issue of investment scams and promote a safer and more trustworthy investment environment in Taiwan. Law Purpose Key Amendments Money Laundering Control Act Strengthening the prevention and detection of money laundering activities Expanding the scope of financial institutions reporting suspicious transactions Increasing penalties for violations Promoting cross-border cooperation Securities Investment Trust and Consulting Act Preventing investment scams on the internet, p

Taiwan has been making strides in its bid to become a global leader in the semiconductor industry. The latest development is "Article 10-2 of Statute for Industrial Innovation", also known as the Taiwan Chip Act. The Act aims to boost the country's semiconductor industry by providing tax incentives to companies engaged in research and development (R&D) and equipment investment. The details of the act were finalized in April 2023 after close collaboration between the Ministry of Economic Affairs and the Ministry of Finance. The Act targets not only the semiconductor industry but also other industries such as electric vehicles, 5G, and low-orbit satellites that play a critical role in the international supply chain. As such, any company that meets the Act's criteria can apply for tax incentives. The Act provides the "largest investment tax credit in history." Companies engaged in R&D can receive a tax credit of up to 25% of their R&D expenses. The