Unveiling Taiwanese Investment Dynamics in ASEAN: A Landmark Report by CIER TASC and Dun & Bradstreet Taiwan
- 2025年12月9日
- 讀畢需時 2 分鐘
In an era defined by geopolitical shifts and supply chain realignments, understanding investment flows is crucial for strategic decision-making. The Taiwan ASEAN Studies Center (TASC) at the Chung-Hua Institution for Economic Research (CIER), in collaboration with Dun & Bradstreet Taiwan, is proud to present the seminal "Report on Investment Trends of Taiwanese Companies in ASEAN (2018-2024)."
This comprehensive study leverages robust corporate data from Dun & Bradstreet to analyze the seven-year trajectory of Taiwanese investment across the ten ASEAN member states. The research uniquely segments this period into three distinct phases shaped by major global events: the US-China trade conflict (2018-2019), the COVID-19 pandemic (2020-mid 2022), and the period following US House Speaker Nancy Pelosi's visit to Taiwan (late 2022-2024). By comparing Taiwanese corporate behavior with global investment patterns, the report offers unparalleled insights into how enterprises have navigated recent turbulence.
Across the three phases analyzed in the report, the overall trend on Taiwanese investment patterns in the region showed a sector-specific and event-driven trajectory. While global enterprises recorded their fastest growth during the COVID-19 pandemic period, Taiwanese firms accelerated their expansion primarily during the US-China trade conflict, with concentrations in traditional manufacturing towards Vietnam. Meanwhile, the post-Pelosi period saw rapid investments in computer, electronic and optical products with Thailand experiencing the strongest relative growth in the region. As trends of Taiwanese firms’ gradual recalibration in ASEAN has been observed, some developments were reflected in the key findings below:
Key Revelations from the Report:
Significant presence: As of the end of 2024, over 6,200 Taiwanese enterprises are actively invested in ASEAN, generating a combined annual revenue exceeding US$260 billion and employing approximately 960,000 individuals, underscoring the region's critical role in Taiwan's external economic relations.
Geographic concentration: Taiwanese investment remains highly focused, with Vietnam and Thailand accounting for nearly 80% of all Taiwanese companies in ASEAN. However, the report notes a gradual expansion into Singapore, Malaysia, Indonesia, and the Philippines.
Sectoral focus: Investment is predominantly channeled into the electronics manufacturing and wholesale/retail sectors. Notably, while most Taiwanese industries accelerated their ASEAN investment during the US-China trade war, the electronics sector saw its most significant growth surge after the Pelosi visit, indicating a phased supply chain response.
Divergence from global trends: The report highlights a clear contrast between Taiwanese and global investment patterns. While global enterprises exhibit diversified investments across countries and industries like food and metal processing, Taiwanese firms show pronounced concentration in specific geographies and high-tech manufacturing.
This report serves as a vital evidence-based tool for policymakers, industry leaders, and academics. It provides a quantitative foundation to assess the impact of Taiwan's New Southbound Policy, understand investment risks and opportunities, and formulate future strategies for deeper economic engagement with ASEAN. The findings prompt critical considerations for building resilient supply chains, promoting industrial upgrading, and fostering sustainable economic partnerships.
Explore the Full Analysis:
For a detailed examination of country-specific breakdowns, industry case studies (including electronics, textiles, apparel, and footwear), and comprehensive policy recommendations, we invite you to access the executive summary of the report.