Tsai Ing-Wen Visited Ta Ya Electric Wire and Cable to Promote Southbound Expansion [CTS]

 2016/11/05     
       On the 5th of this month, President Tsai Ing-Wen was accompanied by Tainan City Mayor Lai Ching-Te to a visit at Ta Ya Electric Wire and Cable in Tainan. Ta Ya has long been a supporter to the government's southbound expansion policy, for it was the first foreign company to be listed for trading in Vietnam. Chairman Shen Shang-Hung of Ta Ya Electric Wire and Cable emphasized that the company had supported the government's first southbound expansion policy by investing into Vietnam back in 1995. Mr. Shen looked forward to work more closely with the government to further expand into the ASEAN market through its establishment in Vietnam.

       Ta Ya Electric Wire and Cable is a 61-year old business run by Chairman Shen Shang-Hung. Its main business activities are the manufacturing of machinery, cables, and electronic components for power generation/transmission/distribution. The company first set foot on solar power generation in 2015, and later activated its first solar power plant in 2016 under the name "Touch Solar Power." Electricity generated from the solar power system was sold to Taiwan Power Company, which amounted to more than NT$10 million in revenues so far.

       Shen Shang-Hung said that Ta Ya's expansion into China in 1993 was made for the purpose of serving its customers. The company has kept its Taiwanese factories running all this time simply because he saw the potential of expanding to the rest of the world through Taiwan. Mr. Shen had supported the government's first southbound expansion policy back in 1995 when he established a Vietnamese subsidiary that later became the first foreign company to be listed for trading in Vietnam. He remains supportive of the government's new southbound expansion initiative, and plans to use the Vietnamese subsidiary as a gateway into the ASEAN market.

       Mr. Shen Shang-Hung said that managing a company is a complicated task, and managing a society or a country is even more complicated. Therefore, he fully concurred with what Tsai Ing-Wen had said, that "No matter how tough the challenge is, we must embrace and overcome them together." The same can be said about business transformation, as it requires the patience and tolerance of everyone in the organization. Transformation is not an easy task, but it is made possible with the right direction.

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