RealTime IT News

Taiwan Gov't Sees E-Commerce Exceeding $15 Billion in 2001

Officials belonging to Taiwan's ministry of economic affairs this week said they expect up to 50,000 local companies to be conducting commercial transactions on the Internet by the end of 2001, by which time the island's annual e-commerce turnover is projected to exceed NT$500 billion (US$15.76 billion).

The officials were reporting on the progress of the government's four-year plan, begun in 1998, which aims to see the island's most important companies doing business online by the end of 2001.

According to the Department of Commerce, a division of the economics affairs ministry, 15,494 local firms have so far set up e-commerce systems. A further 17,000 enterprises are slated to go online by the end of next year, boosting annual e-commerce turnover to around NT$ 135 billion (US$ 4.25 billion).

The officials also confirmed that a Taiwanese delegation headed by vice economics minister Yin Chi-ming would be attending the third Asia-Pacific Information Technology Summit in San Francisco on Nov. 17 to 19. The summit's theme will be "Internet and e-commerce."