A recent survey by Taipei's American Chamber of Commerce shows that two-thirds of American companies in Taiwan were profitable last year and plan to hire more personnel this year. Nearly 47% said they plan to increase investment in Taiwan in 2017.
The chamber said that although the figures show growth, companies are not growing fast enough. That's mainly due to the slow growth of the global and local economy. It also advised Taiwan to join international trade agreements and continue talks with the US under the Trade and Investment Framework Agreement (TIFA).
As for the challenges of doing business in Taiwan, the chamber cited cumbersome administrative processes, as well as uncertainty over labor laws.
AmCham Chairman Albert Chang explains the organizations' perspective on Taiwan's new labor amendments, which went into effect after the survey was conducted.
"Even with the law passed, people do not feel there has been enough guidance on how to implement it. So in our companies - holidays, overtime, seniority - we still cannot understand how to do it," said Chang.
The survey was conducted at the end of last year and reflects the opinions of nearly 200 American companies in Taiwan.
Source: Radio Taiwan International
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