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Home News Corporate President Hsiao of Forwell Urges for Investment Credit in order to Boost Industry Upgrade

President Hsiao of Forwell Urges for Investment Credit in order to Boost Industry Upgrade

Written by Chen, Renyi (陳仁義) on August 19, 2020

President Hsiao of Forwell is also the director of TAMI, who said that recently, due to the impact of the Covid-19 and the world economy issues, the global industries are severely impacted and the investment in the international market is not booming. The planned investment plans were suspending and most machinery suppliers are stay in moderate operation state. The market is likely to be stagnant. Many trade shows were cancelled due to the Covid-19 pandemic, so the interaction of our machinery industry with the foreign market is inactive. President claimed that the real and helpful order requests are what people expected and he urged government officials to release more investment facility projects rewarding policy, since this can solve the difficulties of the machinery industry and can pump up the willingness in the manufacturing industry to upgrade their facility so that they can prepare themselves for the upcoming economy recovery.

President claimed that all the technology comes from machinery because machinery is the basis for industry, and it is also an ever lasting industry. In fact, now the machinery is developing towards the trends that work with different industrial sectors and walk towards the goal of Industry 4.0. For instance, the national medical mask project that appeared in the market this time is a successful case of this cross sector integration. President Hsiao also claimed that government also needs to invest on the development of different materials so that Taiwan’s business progression will be broader with great autonomous strength. This is the way to the full competitiveness in the global market.

President Hsiao also said that in the future each industrial sector will integrate with their big data technology together with the IOT, and this trend also applies to the machinery sector. Machinery sector shall keep its pace in smart manufacturing; they shall also develop IOT and work with the defense industry. For instance, suppliers of panels need to integrate big data, IOT, and machinery suppliers with smart technology. With the strength from different industrial sectors, people can have all they need for their manufacturing plans, including the data and transmission mechanism from telecommunications. This kind of integrations from different sectors will become popular and common so that the eventual goal of smart manufacturing can be achieved.

In regard to the trade war between China and the US, President Hsiao said that in order to avoid the tariff issues and keep the competitiveness, many manufacturers moved to Thailand, Malaysia, Indonesia, and India and restarted their supply chain, so now the re-distribution is the trend and it is important for machinery industry to prepare in advance, because these places are with bounteous labor forces and stable political status, and they are suitable for the fostering of those moving suppliers. So it is important to be prepared for the upcoming change.