In 2019, the Netherlands was Taiwan’s 10th largest trade partner in the world and the 2nd largest in Europe, and Taiwan was the second largest export destination for the Netherlands in Asia, after only China. In 2020, the world was hit hard by the pandemic of COVID-19, but the Netherlands remains the biggest foreign investor of Taiwan, with a total accumulated amount of 35.48 billion USD from 1952 until June 2020, accounting for more than 20% of the entire FDI.

What potential does Taiwan have for Dutch businesses post-pandemic? 

As trade shows are canceled and business trips discouraged, the Netherlands Office Taipei and the Netherlands Enterprise Agency held a Webinar on July 15 to map out the opportunities in Taiwan for more than 100 Dutch entrepreneurs joining from all over the world, including 30 of who gathered in the city of Utrecht to participate on the “Taiwan Business Day.”

Mr. Guy Wittich, the Netherlands representative in Taiwan, started the Webinar by summarizing the successes of Taiwan with containing the pandemic, which contributed to an estimated economic growth of 1.67% despite a global downturn. The manufacturing industry of personal protective equipment (PPE) offers great potential for cooperation as Taiwan’s supply has already met domestic demand and could help build up production lines. However, entry is only limited to travelers with contract obligations, and a mandatory 14-day quarantine presents challenge to business trips from the Netherlands. 

Senior economic advisor Diederik van der Toorn further explained that the growing global demand for Taiwan’s high-tech industry, especially semiconductors, telecommunication equipment, and ICT products, contributes to the strong economy. The economic stimulus measures Taiwan’s government has implemented have a positive impact on Taiwan’s domestic economy.

Agriculture director Gelare Nader discussed the challenges of global supply chains faced by Taiwanese importers of flower bulbs, dairy product and pork from the Netherlands. 

However, she also pointed out that with subsidy allocated by the Council of Agriculture (CoA), Taiwan is aiming at upgrading the industry and modernizing agriculture to target markets other than China, including Southeast Asia and European countries. The Netherlands, with its long history of expertise and innovation in agriculture, is one of the few countries that can lift up Taiwan’s agricultural industry to the next level.

Chih-Kai Yang, senior officer of Innovation, Technology & Science, said that the Netherlands Innovation Network (NIN) has published three reports on “AI for Mobility,” “AI in Taiwan,” and “Cybersecurity sector in Taiwan” to keep Dutch parties up to date on the development in Taiwan. Adapting to travel restrictions, they have also organized three Webinars on photonics and two on cybersecurity to connect experts from both sides to explore mutual opportunities. 

NIN will also organize the first digital cybersecurity mission to connect Dutch companies to both Taiwanese and Japanese markets. They are now helping the Dutch research council (NWO) formulate a joint public-private partnership call on photonics with the Ministry of Science of Technology (MoST), which is expected to be officially announced in Q3 this year.

Despite the pandemic, Dutch entrepreneur Jeroen Uijttenhout opened his business service center and coworking space Workspot in downtown Taipei on July 10. 

“We’d worked on the project for half a year, and the pandemic didn’t stop us from launching,” said Uijttenhout. “There are great opportunities for Taiwan as a regional business hub, especially now with the decline of Hong Kong and many foreign companies are looking for an alternative business environment that’s well regulated,” he added.

Joining from the Netherlands Enterprise Agency, Jan-Willem Oosterbroek, Business Development Coach for Taiwan and South Korea, gave an update about their tools to support Dutch companies with their export abroad. For example, the Dutch government has launched a kick-start voucher for internationally active Dutch companies to respond to international challenges caused by COVID-19, which covers 80% of their costs up to a maximum of €2,500.

All in all, the Webinar showed that the success of Taiwan with containing the pandemic presents great potential for partnership and unique demands for digitization. 

As the Netherlands is adapting to the “1.5-meter economy,” the Netherlands Office Taipei will also continue to work closely with the Netherlands Enterprise Agency to offer knowledge and resources to help Dutch businesses and entrepreneurs explore new opportunities in Taiwan.

Have you read?
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