New Southbound Policy and Dutertenomics complementaryMinistry of Economic Affairs

Organization: Department of International Cooperation       

Taiwan New Southbound Policy and the Philippines Dutertenomics complement each other economically, an official at the Manila Economic and Cultural Office (MECO), said recently.

Dutertenomics refers to Philippine President Rodrigo Duterte socioeconomic policies in which the development of infrastructure and industry play a significant role. The New Southbound Policy, a major initiative of ROC President Tsai Ing-wen administration, is aimed at forging closer economic, trade, industry and other links with the countries of South and Southeast Asia as well as Australia and New Zealand. 

Arthur Abiera Jr., assistant corporate secretary of MECO, said that
foreign enterprises are welcome to bid to take part in related Philippine infrastructure projects, adding that Taiwanese companies have advantages in a range of areas, such as traffic management, electric cars, smart cities and information and communication technology.

The Philippines has been designated as one of the priority target countries under the New Southbound Policy, and the Taiwan government has been actively working to facilitate commercial opportunities in the Philippines for Taiwanese enterprises through greater investment, business partnerships and other endeavors.