Three multilateral development banks inject funds into Taiwan digital industry manufacturers for their overseas portfolio growth
TAIPEI, Oct. 28, 2022 /PRNewswire/ -- Taiwan's Ministry of Digital Affairs (MODA) held the 2022 "MDB Sustainable and Digital Development Business Opportunities" seminar on October 28, 2022, intending to assist Taiwan's digital industry in connecting with international platforms to avail themselves of the opportunities to expand their smart application businesses overseas. Executives from the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), and the Central American Bank for Economic Integration (CABEI) attended the event where they shared opportunities that could lead to further development for Taiwanese digital businesses. One of the event's key objectives was to help system integrators export product and service solutions to international markets by working in collaboration with international organizations. At the event, executives from the ADB shared their experiences with Taiwanese companies on the development and business opportunities related to Earth Observation (EO) and Geographic Information System (GIS) networks. The EBRD elaborated on its experience with digital transformation, energy management, and implementation of net-zero emissions while the CABEI took part in sharing the challenges of achieving sustainable development through digital programs.
"In the past, we regularly organized collaborative exchanges with international organizations such as the ADB, EBRD, and CABEI, with the focus on building platforms that connect Taiwan's digital industry with opportunities in international markets and attract funding that can assist Taiwanese companies in growing their exports," said Tai-Shan Yu, director of the Emerging and Cross-Domain Division of the Administration for Digital Industries, Ministry of Digital Affairs (MODA).
Taiwan contributed to the ADB's Domestic Resources Mobilization Fund (DRMF) in July 2022, with the Ministry of Finance subsequently taking on the mission of working with local manufacturers to access the fund to promote Taiwan's experience in smart finance and smart tax management; in such areas as taxpayer registration, electronic payment tax collection, and property valuation systems. During the sharing session, experts from the ADB gave presentations on how the EO and GIS networks can be applied to sustainable development anywhere. Taiwan will continue to have the opportunity to participate in DRMF, opening up the path to further opportunities for the country's digital industry to participate in international cooperation on sustainable development.
In recent years, Taiwan's digital industry has successfully tapped into the resources and project support from the EBRD to jointly promote Taiwan's solutions and experience in electric vehicle (EV) infrastructure, electronic toll collection, traffic control centers, and other smart transportation solutions. In early 2023, a delegation from the EBRD will visit Taiwan and tour the demonstration facilities of several of the sector's key players, as a key step in establishing a framework for cooperation. At the event, the EBRD shared what it foresees in terms of the future for digital transformation, energy management, net-zero emissions, and other areas where the bank sees collaborative opportunities.
The industry's key players have already promoted smart transportation, smart vehicles, and related smart applications to CABEI, and received a positive response. Both sides have agreed to conduct a feasibility analysis at the initial stage and subsequently, participate in planning smart applications for electric bus fleets and EVs in general in Central American countries in concert with Taiwanese automakers. CABEI also opened its doors to the sector joining future meetings and exchanges on environmental and social welfare issues afflicting Central America. At the event, CABEI shared its insights into the challenges of integrating GIS into applications leveraging digital technologies as a means for achieving sustainable development as well as for coming up with solutions to reverse or mitigate the problem of greenhouse gases.
"The Ministry of Digital Affairs is committed to supporting the System Integration Promotion Alliance (SIPA), in a move to encourage domestic and overseas industry, and governmental partners to work together to plan and implement digital governance, smart cities, and digital integration programs anywhere and everywhere where such cooperation is welcome as well as to assist the country's system integrators in exporting their products and services to international markets," Yu said. "We look forward to seeing this sharing session serve as the stepping stone which Taiwan's digital sector becomes the hub for the global digital solution supply value chain, assisting Taiwanese manufacturers in creating digital services and digital system integration solutions that address yet unresolved issues facing companies and organizations worldwide, and generally speaking, serve as a vehicle for the growth of Taiwan's digital services sector."
Taiwan's digital service industry can identify seven key fields where it has made considerable achievements: smart governance, smart transportation, smart manufacturing, smart healthcare, smart education, smart agriculture, and smart energy and environment. The industry plans to continue expanding its presence overseas by sharing its experience with the three major international banks that attended the event, to attract more capital injection to respond to major issues such as climate change, social welfare, energy conservation, and carbon reduction, as well as wealth disparity. The industry expects to play an irreplaceable role in contributing to green and environmentally responsible development worldwide.
