20 Sep 2019 Taiwan Legal Update:Taiwan-Malaysia E-commerce Cooperation & The ManpowerGroup Employment Forecast
The “2019 Taiwan United Online Shopping Festival’s” Upcoming Debut
For the first time, Taiwan will participate in MYCYBERSALE ASIA. This cross-border cooperation sales event will be held between September 24th and October 3rd. A joint international launching ceremony was held in conjunction with Malaysia. This enables Taiwanese based firms to access and sell high-quality Taiwanese products to the international market.
MYCYBERSALE ASIA signifies the first e-commerce cooperation between Taiwan and Malaysia. The Ministry of Economic Affairs (MOEA) described it as the » touchstone of Taiwan in the international emerging market ». In the future, the MOEA hopes to expand cooperation with other South Asian countries to eventually create a regional online shopping festival for Taiwan. It is also hoped that this will foster cross-border exchanges and development between Taiwanese and Southeast Asian countries.
The Commerce Department in the MOEA suggests that this will provide Taiwan’s speciality businesses, beauty, homeware, fashion and food industries, centuries-old stores and restaurant operators with much needed international market access. However, due to the general lack of cross-border sales experience, it could take some time to implement.
Malaysia has held the « Malaysia Online Shopping Festival » for five consecutive years. In this time, the total transaction volume has increased from NT$500 million in 2014 to NT$2.9 billion in 2018, attracting more participants from Asia, the Middle East, Europe and the United States.
ManpowerGroup: “Mining and Construction sector expects strong hiring pace”
According to the ManpowerGroup Employment Outlook Survey released this month, Taiwan’s hiring outlook for the fourth quarter of the year is the second strongest in the world. Thus, Taiwan maintains its position as one of the two strongest forecasts in the Asia Pacific region, behind Japan.
Taiwanese employers were asked, “How do you anticipate total employment at your location to change in the three months to the end of December 2019 as compared to the current quarter?”. It was subsequently found 25% of the employers forecast an increase in payrolls, 5% anticipate a decrease and 70% are expecting no change.
The Ministry of Economic Affairs attributes this confidence, in part, to the “invest at home” program. From its inception, employer confidence appears to be growing gradually. However, the global economic climate was reflected in the latest outlook, particularly the hiring outlook for the restaurant and hotel industry, which is down 5%.
Transport and Utilities forecast the weakest intentions, with employers reporting a 7-percentage point decline when compared to the last quarter. This is the weakest reported by manpower in 3 years.
The local manufacturing sector also reports a moderate outlook, +18%, which although is a 1 percentage point increase quarter-over-quarter, it signifies a decline of 5 percentage points year-by-year.
On the other hand, the strongest hiring plans are reported in Mining and construction with an Outlook of +33%. This is an increase of 5 percentage points quarterly. The sector has been a key beneficiary of the government’s infrastructure program.
Modest job gains are expected in the Finance, Insurance and Real-estate sector, where employers report a Net Employment Outlook of +29%. Hiring needs in the financial sector are mainly in the fields of financial technology while the service sector remains a strong demand for experts in emerging technologies (AI, data computing and electronic payment).
ManpowerGroup also found that job seekers can expect positive hiring climate in the Service industry, which has remained unchanged compared to the previous quarter but improves by 4 percentage points year-on-year.
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