Gov't aims to make e-commerce trillion-dollar business in six years

TAIPEI -- The Ministry of Economic Affairs (MOEA) said yesterday that it will invest NT$450 million (US$14.06 million) in e-commerce over the next six years in a bid to develop it into a NT$1 trillion business within that time period.

 

The MOEA noted that e-commerce bucked the trend by growing when the world was in sharp decline during the economic crisis that began in 2008, which is why the MOEA proposed an action plan on Mandarin Chinese e-commerce development with the aim of making Taiwan the operations center of the world's Chinese e-commerce.

Under the draft proposal, the government will invest the money between now and 2015.
The MOEA has estimated that the revenues of e-commerce in 2010 will be NT$452 billion, and that although there are currently no e-commerce businesses in Taiwan with revenues of over NT$10 billion per year, the first such business could be revealed next year, with a further seven companies with annual revenues of NT$10 billion by 2015.
Yeh Yun-lung, director-general of the MOEA's Commerce Department, said that if Taiwan can succeed in branching out its e-commerce business, especially in the vast China market, then its growth will be stunning.
“If we can take the China market, then we feel that it will become a trillion dollar business in five or six years,” he added.
Yeh noted that the ministry's action plan will include the marketing of special Taiwanese products and cyber services to the Chinese market, as well as the promotion of cross-agency coordination to solve any problems of Taiwanese e-commerce in the Mandarin market.

Source PG Group News