Page 28 - Taiwan Machinery 2023-08 Edition

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INDUSTRY NEWS

Despite the statistics not meeting expectations, there Also, the current US-China trade war is driving global
are still ample reasons for optimism within the industry. supply chains into a new phase, characterized by an
The ongoing advancements in machine intellectualization, emphasis on resiliency, safety, sustainability, advanced
the adoption of smart manufacturing practices, the technology, and regional economic development.
implementation of ESG principles, the drive for digital To navigate this shifting landscape, the Industrial
transformation, and the resilience built over years of industry Technology Research Institute (ITRI) advises that
experience all provide a strong foundation for practitioners Taiwan’s machinery industry should capitalize on its
to overcome challenges. information and communications technology (ICT)
capabilities to forge partnerships around the world.
Furthermore, on May 5th, the WHO chief declared the
end of COVID-19 as a global health emergency. This has In addition, given the ongoing phenomenon of
helped show organizers worldwide who had been forced deglobalization, enhancing industrial resilience is crucial
to suspend exhibitions for a few years to regain steam and for machinery suppliers in Taiwan. This can be achieved
reinvigorate global trade, with some already witnessing by adjusting production bases and implementing market
significant recovery in exhibitor and visitor numbers. In light diversification strategies. Additionally, Taiwan suppliers
of these positive trends, TAMI expects that export levels can also engage themselves in green transition and
will rise in the third quarter at the earliest, and the projected industrial upgrading, while simultaneously strengthening
order value for 2023 will be on par with that of 2022. To the development of ICT technologies to add value to their
expedite the industry’s recovery, TAMI is committed to products. It is believed that the current crisis can serve
providing resources such as marketing guidance, assistance as a catalyst for transformation, positioning Taiwan’s
with technological upgrades, Toyota Production System machinery industry as a winner in this era of industrial
(TPS) support, facilitation of digital transformation, ESG paradigm shift.
implementation, and machinery talent training.

Taiwan Machinery (September 2023)