Source: Taiwantrade | Updated: 20 March 2015
Taiwan Vice President Wu Den-yih recently pointed out that the production value of the chain and franchising business in Taiwan has now surpassed US$31 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.
The government is determined to improve the local investment climate in such a way that would spur further growth of the local chain and franchising business, he said.
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, the vice president said.
Chia-yi Lin (firstname.lastname@example.org)
Source: Focus Taiwan