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Taiwan-skyline

3 Taiwanese Smart Cities Your Business Must Visit

Have you ever heard of smart cities?

 

Business consulting firm Frost & Sullivan projects that the global smart city market will be valued at $1.56 trillion by 2020.

 
 

What makes a city smart?

 

Smart Cities Council describes smart cities as “having digital technology embedded across all city functions.”

 

Don’t worry, you have nothing to fear.

 

In fact, the rise of these futuristic cities offers unique benefits for your business.

 

Taiwan was one of the first to invest in 'smart' technology, while other countries are slowly starting to learn from their success story.

 

Advanced robotics, “big data” and cloud computing are revolutionizing the supply and transportation industry. These technologies offer higher quality and faster production, at a cheaper cost.

 

Purchasing these “smart” exports gives your business a competitive edge in the import market, and can help your profit margins when you’re selling back home.

 

Taiwan was one of the first to invest in “smart” technology, while other countries are slowly starting to learn from their success story.

 

Here are three Taiwanese smart cities that you should do business in.

 
 

1. Taichung

 

Taichung holds a majority of Taiwan’s industry sectors, and this is where smart-city technology is shining.

 

Automated production lines, precision machinery and motion-sensing technology are used widespread across Taiwan, especially in Taichung.

 

Automated production lines, precision machinery and motion-sensing technology are used widespread across Taiwan, especially in Taichung.

 

In 2017, the Taiwanese government proposed creating a smart-machinery industrial park and R&D center in Taichung by 2019. They expect the park to attract 50 companies and $2.3 billion USD in investment.

 

Taichung has also created an Intelligent Operation Center to implement a city-wide traffic monitoring system. This program calculates traffic pattern data, which is used to manage traffic control and air quality. The Taiwanese government has allocated $2.1 billion USD to this project.

 

Taichung should be your first stop if your business is interested in Taiwanese exports.

 
 

2. Taipei City

 

Winner of the 2006 International Community Forum (ICF) award, Taipei and “smart city” seem to go hand in hand.

 
taiwan-technology-manufacturing
 

In 2016, Taipei created a Smart City Office, dedicated to developing smart city solutions. It engages all Taiwanese citizens by offering a web platform where people can submit their smart-city ideas to the city government.

 

So far, these smart-city solutions have had an impressive impact on Taiwan’s exports, with 70% of the world’s integrated circuits being manufactured in Taiwan.

 

If your business works with circuitry and electronics engineering, you should visit Taipei City.

 
 

3. Taoyuan

 

Taoyuan was selected as one of the Top 7 Intelligent Communities in 2013 and 2015. The Taoyuan government signed an agreement with Microsoft Taiwan in 2017 which will provide the city with cloud-computing platforms, big-data analytics, AI, and MR technologies.

 

Plus, Taiwanese President Tsai Ing-Wen created the Asian Silicon Valley Project in Taoyuan to promote entrepreneurship and innovation in Taiwan. Some of the objectives include:

 

  • develop 3 global systems integrators in Taiwan
  • attract foreign investment from two major companies
  • increase Taiwan’s smart-technology global market share from 3.8% (2015) to 5% (2025)

 

 

With a budget of $401 million USD, the Taiwanese government hopes to complete this project by 2023.

 

One of their first steps towards this goal will be to build the Asian Innovative Talent Exchange Center, which will encourage start-up development.

 

The Taiwanese government insisted that the Asian Silicon Valley project is about more than connecting Taipei, Taichung and Taoyuan. Their goal is to connect Taiwan with technology centers across the world.

 
 

How to Pay Taiwanese Suppliers

 

Speaking of global connections, your business should use Veem to purchase Taiwanese supplies.

 

We’re a digital payment platform that bypasses outdated banking wire methods and their hidden costs and delays. Connecting businesses is what Veem is all about.

 

Tracking your money comes at a cost with banks. Not with Veem.

 

We make B2B payments as simple as sending an email.

 

Start doing business the Veem way today.

 

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