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Opinion

Taiwan must be more business-friendly to become Asia's Silicon Valley

US-China trade war is already driving tech giants like Foxconn back to the island

| Taiwan
A driverless bus runs at a university campus in Taipei: Taiwan has been slow to revise regulations applying to new technology, such as rules for autonomous vehicles.   © Reuters

Taiwanese companies are going home. Technology giants like Foxconn, which formally trades as Hon Hai Precision Industry, and Quanta Computer are decreasing their investments in China in favor of returning to Taiwan, a reshoring trend that has accelerated with the trade confrontation between the U.S. and China.

Taiwan's Ministry of Economic Affairs recently announced that it had approved returning investments by a record 146 companies since the start of the year, bringing home $20 billion in investment commitments and 53,000 job opportunities.

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