TW Biz News｜WK 08/18 - 08/24
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Every week, we'll select Taiwan's five business news from the previous week for your review.
〔Taiwan News〕Far Eastern Garden City to fully open Saturday
Far Eastern's Garden City will have a soft opening on Saturday for Zone B, completing the department store complex attached to Taipei Dome. Local media toured the 13,333-square-meter retail space, also known as Monet Garden. Other zones within the department store, such as a gourmet restaurant hall and a cinema, are already open to the public, per CNA.
US envoy Raymond Greene hosted Economics Minister Kung Ming-hsin (龔明鑫) and Taiwan Electrical and Electronic Manufacturers’ Association Chair Young Liu (劉揚偉) to discuss further cooperation, the American Institute in Taiwan said Tuesday. The meeting was intended to advance commercial cooperation in what AIT called the “golden age” of US-Taiwan economic relations on its Facebook page. One of the topics under discussion was the creation of new opportunities for Taiwanese small- and medium-sized enterprises hoping to expand into the US.
The 2026 ranking of the world's top 30 companies by revenue is out, and Amazon has officially dethroned Walmart, ending the retail giant's more than a decade-long reign at the top. Amazon posted annual revenue of $716.9 billion, narrowly edging out Walmart's $713.2 billion. U.S. companies dominate the list, occupying 15 of the top 30 spots and 7 of the top 10, underscoring the continued strength of American corporate power. China's State Grid Corporation ranks third globally with $555 billion in revenue, making it the world's largest state-owned enterprise. On the Taiwan front, Hon Hai Precision Industry secured the 23rd spot with approximately $260 billion in annual revenue, standing as the only Taiwanese company on the list. Amazon's ascent reflects a broader shift in global corporate competition away from traditional retail toward technology-driven business models powered by cloud services, digital advertising, and other diversified revenue streams.
The 13th edition of the joint committee meeting of the Agreement Between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Cooperation took place Aug. 17. According to the Ministry of Economic Affairs, Director General William Liu of its International Trade Administration led Taiwan’s delegation. The ministry said the meeting agenda covered a wide range of issues, including animal and plant health inspections and quarantine, technical trade barriers, e-commerce and joint audiovisual production, as well as Indigenous relations , trade and labor, and intellectual property rights.
An estimated 605 cruise ships carrying a record 1.19 million visitors will dock in Taiwan this year, reports said Thursday. The first half of 2026 saw 332 ships bring 628,600 passengers, according to Taiwan International Ports Corporation. For 20 cruise liners, it will be their first visit to the country, per Liberty Times.
〔Taiwan News〕Kaohsiung expands Nanzih Science Park
Kaohsiung on Thursday approved rezoning of a former oil refinery to allow for growing TSMC operations, per a city government press release. The city said it will be merging 29.83 hectares of land for the world's largest contract chipmaker. It projected that the expanded Nanzih Science Park will generate NT$960 billion (US$29 billion) and create 6,600 jobs.
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