NSP - What is the new Southbound Policy(NSP and how is it different than the previous one The NSP is far more aggressive in terms of investment forging

NSP - What is the new Southbound Policy(NSP and how is it...

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What is the new Southbound Policy (NSP) and how is it different than the previous one? The NSP is far more aggressive in terms of investment, forging bilateral traders, and more integration of the region through people-to-people ties, ranging from educational exchanges, openness towards immigration, and human capital building. The NSP has four main objectives: 1) Promote economic collaboration Create partnerships by integrating into NSP countries’ supply chains, export advanced medical products and services to promote Taiwan’s brand image, and collaborate on critical infrastructure in NSP countries. 2) Conduct talent exchange The “two-way flow of professionals,” and helping immigrants to find work and overcome linguistic boundaries in Taiwan. By “share resources,” Taipei intends to “capitalize on Taiwan’s soft power” and “promote bilateral and multilateral cooperation” in various sectors: from culture and tourism to agriculture, technology, and small and medium-sized enterprises (SMEs). President Tsai has emphasized the important role that Taiwan SMEs are to play in the NSP. [5] Tsai envisions large, advanced Taiwanese companies leading and pairing with those SMEs to offer a coordinated investment strategy to NSP target countries.
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