Taipei Commercial Representative Office hosts welcome, farewell reception
‘Good time to develop new type of business in Kuwait’
KUWAIT CITY, Aug 3: The Taipei Commercial Representative Office in Kuwait hosted a welcome and farewell reception for the new director, Bruce Chou of Taiwan Trade Center in Kuwait and the outgoing director Mike Tang on July 27 at Sheraton Hotel. Bruce Chou says, as oil price stagnates in the first half of this year, some GCC countries are suffering from this situation. Nevertheless, it is a good time for Kuwait to encourage and promote private industries. Since the global economy in 2016 is still uncertain, global demand keeps weakening. According to the research of IMF, the global economy growth has been cut to 2.8 percent from 3.2 percent this year. As the economic activities moving slowly, it affects consumers’ confidence everywhere. Kuwait is one of the few countries that has strong capital reserve in the world, Bruce Chou maintains his optimistic view to Kuwait in terms of its potential of developing new private industries. He indicates that although consumers become more conservative these days, there are still many new fields and products coming out, some of them are worthy for young generation of Kuwait to participate, such as the fi elds of home robot application, smart phone APPs, interactive education content and facilities, internet marketing, energy savings and environment protection. Trade Bruce Chou wants to encourage more Taiwan companies to cooperate with Kuwait companies by bringing in more trade delegations to Kuwait and focusing more on those companies who could provide system integrated or total solutions to Kuwait. With the support of Taiwan companies, he believes that opportunities could be provided to young Kuwaitis to open creative services or new business. Kuwait is the market that adopts new things fast. According to Burce Chou’s observation, young Kuwaitis create new ideas easily resulting for their using experience. Those ideas could be turned into brand new business model. The private industry in Taiwan is very good at transferring new ideas to products, which help young Kuwaitis to establish new business and could be expanded to other GCC countries. Telsa, the leader in American Electrical car industry is a good example. It produced the initial motor by join-developing with Taiwan Company when no motor companies in the world were interested. Taiwan Trade Website has offered Arabic version for the buyers in this region to easy access to information about Taiwan companies. Mike has finished his term in Kuwait and is very thankful to all the support he has received from Kuwait for the past few years. During his stay in Kuwait, the export from Taiwan to Kuwait has significantly increased by around 25 percent in total.
