TAIPEI: Taiwan’s economy grew 3.74 percent in 2014, recording the highest growth among the four Asian tigers, which include South Korea, Hong Kong and Singapore, said the vice president Taiwan’s Vice President Wu Den-yih. He further stated that the Production value of the chain and franchising business in Taiwan has now surpassed NT$1 trillion (US$31.55 billion) per annum after years of rapid development.
Such a high output contributes greatly to Taiwan’s economy, Wu said in a speech at the opening of the Taipei International Chain and Franchise Spring Exhibition that will run through Sunday at the Taipei World Trade Center.
Currently, there are about 350 chains and franchises in Taiwan that operate more than 100,000 shops and employ approximately 1 million people, Wu said, adding that the sector is one of the drivers of the country’s economic growth.
He said Taiwan’s economic performance has boosted its international visibility and under such favorable circumstances, the chain and franchising industry is expected to grow and increase its profitability.
Lee Jih tung, head of the Association of Chain and Franchise Promotion that is one of the organizers of the trade exhibition, said at the opening that having reached NT$1 trillion in production output, the local chain and franchising business has now set its sights on overseas markets.
