Taiwan is a dynamic economy that has been increasingly gaining interest from global businesses in recent time. Emerging as one of the most promising innovation and startup hubs in Asia, Taiwan is home to some of the most groundbreaking and innovative brands in the region.
To further strengthen their position as the newest innovation center in Asia, Taiwan has been proactively introducing their groundbreaking brands globally. Just recently, an exhibit showcasing the best of Taiwanese product innovation was held at the City Garden Grand Hotel in Makati City.
Dubbed “Wow! Taiwan,” the exhibit was brought to the Philippines by Taiwan’s Bureau of Foreign Trade, Ministry of Economic Affairs (BOFT-MOEA) and Commerce Development Research Institute in partnership with CRIF Asia, with the objective of bridging Taiwan’s leading enterprises to Philippine companies and consumers.
The partnership also aims to open up new markets and channels for Taiwan’s breadwinning products through new distributors, agents, and retailers. The “Wow! Taiwan” exhibit showcased various kiosks that displayed the best of Taiwanese food, cosmetics, fashion, technology, and modern household products.
Chang Wen Chong, director of Taipei Economic and Cultural Office in the Philippines explained that the entrepreneurs of the exhibited products want to be exposed to the local market in the hope of widening their market and finding prospective partnerships and opportunities to set up shop in the Philippines.
According to Chong, the Taiwanese entrepreneurs are targeting the “middle to higher-end market” in the country, due to the increasing purchasing power of Filipinos as well as their affinity with the Taiwanese.
“The Philippines has a very young and dynamic population that’s open to innovative products,” stressed Chong. “They are also interested in Taiwanese culture, as seen in the huge numbers of Filipino visitors flocking to Taiwan. In fact, the Philippines has the most number of arrivals from Southeast Asia in Taiwan last year. Currently, the potential is high in the Filipino market because the younger generation has more disposable income and are open to new and unique products.”
The Taiwanese brands that were featured in the exhibition were XYZprinting Inc., Brinno Incorporation, HiMirror Mini, Master Mi, Carnation, Yumark, FECA, Kid2Youth, Washcan, Jye Li An, Bung Cheng, Shuter Enterprise Co. Ltd., H&J Food, and Chung-Hsiang Foods.