Taiwan’s banks need to push into Asean

If the new government’s foreign policy is to be successful, the island's financial institutions will have to step-up their expansion in Southeast Asia.

A recent push by Taiwanese financial institutions to expand overseas looks set to accelerate after the country’s new government unveiled initiatives to encourage greater outbound investment.

These initiatives to encourage local banks to carve out a bigger presence in Asean nations are part of a wider southbound policy put forward by Taiwan’s first female president Tsai Ing-wen pictured, who was sworn in on May 20. They form part of a broader strategy to establish closer bilateral ties with fast-growing Southeast Asia and help lessen Taiwan’s economic dependence on mainland China. 

“One of our international priorities is to build up our relations with our neighbours in...

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