AmCham Taiwan announced the results of the Chamber’s 2022 Business Climate Survey (BCS) on January 19, 2022. The survey discloses that a record percentage of respondents – over 87% – expressed confidence in Taiwan’s economic performance for the coming year. Member companies of the American Chamber of Commerce in Taiwan are feeling overwhelmingly optimistic about the years ahead,

1. 1
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the report
2022 BUSINESS
CLIMATE SURVEY

2. Vincent Shih
Chairperson
American Chamber of Commerce in Taiwan
2022 Set to Be Stellar Year
for the Taiwan Economy

3. • Working Experience
• 2000 ~: Assistant General Counsel of Microsoft and GM of
Microsoft Taiwan Corporate, External, and Legal Affairs
(CELA)
• 2018 ~: General Manager of LinkedIn Taiwan Branch
• 1993~2000: Baker & McKenzie (Taipei + San Diego)
• Education
• EMBA degree from Business School of National ChengChi
University
• LL.M degree from U.C. Berkeley School of Law
• LL. B degree from National Taiwan University
• Community affairs
• Chairperson, Governor and Co-chairs of IP & Licensing
Committee of AmCham Taiwan
• Chairperson of Licensing Executives Society (LES) Chinese
Taipei
• President of Berkeley Law Taiwan Alumni (BLTA)
• Deputy Chairperson of Taiwan Technology Industry Legal
Officers Association (TILO)
• Executive Board of Information Service Industry Association of
R.O.C.(CISA)
• Member of Intellectual Property Committee, Chinese National
Federation of Industries
• Adjunct Assistant Professor of School of Law, Soochow
University
Vincent Shih is Assistant General Counsel of Microsoft and
GM of Microsoft Taiwan Corporate, External, and Legal
Affairs (CELA) team. In addition to sitting in Microsoft Asia
CELA Leadership Team, serving as CELA Asia Sustainability
co-Lead and supporting Microsoft GCR Marketing and
Operation Group, he also serves as Taiwan Branch General
Manager for LinkedIn and is active in community affairs.
Vincent is dedicated to bringing Microsoft's global vision into
Taiwan and support Taiwan industry's digital transformation
journey by introducing the most innovative technology
solutions such as AI, Metaverse, Sustainability and
Cybersecurity.
Vincent Shih 施立成

4. 4
Report on Results
• Survey Period:
Dec. 1, 2020 – Jan. 7, 2021
• The survey was sent to 412 eligible
respondents among the voting
representatives of the Chamber’s member
companies. 178 recipients took the survey
for a response rate of about 43%.

5. Economic prospects - How confident are you about Taiwan’s
economic growth outlook?
Next 12 months
87%
somewhat or
very confident
(86% in 2021)
Next 3 Years
83%
somewhat or
very confident
(78% in 2021)
87.08% of those surveyed expressed
confidence about 2022, including an all-time
high of 45.51% saying they are “very confident.”
5
The degree of confidence continues
to be strong beyond this year.

6. Business environment - How confident are you about your
company’s revenue growth prospects in Taiwan ?
Over next 12 months
90%
either somewhat or very
confident
(82% in 2021)
Over next 3 years
91%
either somewhat or very
confident
(84% in 2021)
Revenue growth is widely expected both in 2022
and over the coming three years.
6

7. 7
How satisfied are you with the Taiwan government's efforts to
control the COVID-19 outbreak so far?
How satisfied are you with the government's economic relief
measures in the wake of the crisis?
COVID-19 Impact and Relief Measures
Large extent
Some extent
Small extent
Not at all
Don’t know
To what extent did the summer
outbreak of local COVID-19 infections
negatively impact your business in
Taiwan?
Nearly 64% in 2021
Over 96% in 2021
86.8% of respondents were
impacted to some degree.

8. 8
How important is it that the government begin
plans to gradually reopen borders and reduce
travel restrictions?
What criteria should be met to
ensure that a gradual reopening
of the border is safe and
effective?
COVID-19 and Business Impact
To what extent is your business impacted by
delays in approval or denials of applications for
short-term or long-term business visas to enter
Taiwan?
77.71% 70+% full vaccination rate
68.29% demonstrated capacity of Taiwan’s hospital
system to manage both COVID and non-COVID patients
63.25% a steady supply of vaccines
44.58% a relatively manageable percentage or overall number of
severe illnesses, critical care cases, and/or deaths

9. U.S.-China Increased Competition
9
What do you consider the economic impact of increased competition
between the U.S. and China to have been in Taiwan so far?
22.62% 16.4%
2022 2021
Negative perception
Positive perception
43.45% 50.82%

10. 10
Respondents
enthusiastically
support deeper
economic ties
with the U.S. and
other partners.
Strengthening Economic Relations
How important to your business in Taiwan is the island's negotiation of or participation in the following
agreements or partnerships?

11. 11
Cybersecurity and
misinformation/
disinformation
were the two
most pressing
concerns among
respondents.
Threats to Business Operations
To what extent do you regard the following as possibly impacting your company’s
business operations and competitive positioning in Taiwan in the coming year?

12. Apprehension about
Taiwan’s energy environment
has increased significantly.
77.9%
Extremely or somewhat
concerned 60.5%
(Up 15 percentage points
from last year)
Cost of Electricity
Power Supply Sufficiency
(Up 15 percentage points from last year)
12
73.7%
(Up 15 percentage points
from last year)
Progress toward
green energy
70.9%
(New question)
Grid resiliency

13. 13
• Only three years remaining
• May 2021 power outages
• Dec. 2021 energy-related referendum questions
2022 2021
2025 Nuclear-free Goal
To what extent will concerns about the practical achievability of the 2025 nuclear-free goal
affect your company’s decisions on future business expansion in Taiwan?

14. Taiwan’s tax system and regulations
14
To what extent do you agree that the following aspects of Taiwan’s tax system are favorable to
doing business in Taiwan?

15. Companies say they would be incentivized by
tax benefits and subsidies
15
To what extent do you agree the following incentives would help
stimulate foreign companies’ willingness to invest in Taiwan?

16. 16
Human Capital
Aspects of Taiwan’s human capital
are seen as globally competitive
Satisfaction level of ability to recruit enough and
capable personnel to meet business needs:
Expected change in the number of full-
time in Taiwan over the next 12 months:
40+% in 2021
48+% in 2021

17. Signature government programs
17
To what extent have the
following government
policies benefited Taiwan’s
economic development?
Respondents generally view
the Six Core Strategic
Industries program as
beneficial.
Confidence in the New
Southbound Policy has also
increased.
To what extent are you
satisfied with the
government’s progress so
far in implementing these
specific initiatives?
Six Core Strategic Industries New Southbound Policy
66%
Large or some extent
48%
Large or some extent
43%
Large or some extent
34%
Large or some extent

18. Six Core Strategic Industries
18
Under the Six Core Strategic Industries initiative, to what extent do you think policies
in the following areas are benefiting Taiwan’s economic development?

19. Bilingualism
19
To what extent do you think the Bilingual Nation 2030 policy will benefit
Taiwan’s economic development?

20. White Paper & Regulatory Environment
20
Taiwan’s regulatory environment
is considered to be improving.
Although more could be done to align rulemaking with
international norms and best practices.
A majority say that AmCham’s cooperation
with the National Development Council to
resolve industry issues has been productive.
Effectiveness of the quarterly meetings with
National Development Council to track and
facilitate progress on White Paper issues.
Laws and regulations can be
researched in a user-friendly way.
Draft regulations usually have a
sufficient public notice and comment
period before adoption.
Government usually avails itself of
sufficient multiple forms of research and
communication with stakeholders when
drafting new laws and regulations.

21. Government Attention & Priorities
21
Companies are pleased overall with
the government’s attention to industry.
61% specified that Taiwan’s ability to maintain
an adequate supply of energy to support
business and the economy should take
precedence on the government’s agenda in 2022.
Are you satisfied with top policymakers’ attention to
the needs of businesses in setting relevant policies?
What should be the government’s top priorities
during President Tsai's current term?
34% in 2021

22. About the Survey’s Participants
22
Respondents by Industry Number of Employees Number of Years
Operating in Taiwan
Professional
services
Other - include
semiconductors
& transportation
and logistics
Information and
communications
technology (ICT)
Consumer goods &
Food/Beverage
Healthcare-related
products and
technologies
Financial services
Chemicals/
Energy
Retail & Trade
Media &
Entertainment
101-250
51-100
21-50
0-5
501-1000
251-500
6-20
1001-2000
2000+
More than 30 years
5-10 years
21-30 years 11-20 years
Less than
5 years
AmCham companies come from a wide variety of industries,
employ both big and small teams, and have deep roots in
Taiwan.
13.25%

23. THANK YOU
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