Industry News: Virus to Dampen Outlook For Local Technology Firms

 2020-06-24 By: Taipei Times

The horrendous COVID-19 pandemic causes economic recession around the globe and would contract 1.2 percent of Taiwan’s economy this year due to draconian lockdowns. In fact, with the increasing cases of virus infections, it dampens numerous business opportunities and product sales for many technology startups. However, the pandemic is accelerating digitalization and investment in areas such as Cloud computing and 5G infrastructure, which may benefit the economic recovery next year. Despite that, many central banks worldwide are cutting interest rates of loans to support many affected companies to get back on track again.

This article was extracted from: Taipei Times