This move aligns Taiwan with regional trends and is expected to attract and retain skilled professionals in key sectors like manufacturing and technology. The initiative, complemented by educational strategies to attract international students, reflects Taiwan’s commitment to becoming a competitive global hub for talent acquisition.
Taiwan, in a landmark policy revision effective from New Year’s Day, has extended the permissible stay for foreign university graduates to two years post-graduation.
Previously, international graduates in Taiwan were limited to a maximum stay of six months to a year for job hunting. The extension to a two-year limit aims at mitigating the talent gap caused by Taiwan’s dwindling and aging population. Analysts project that this policy could infuse the Taiwanese economy with up to 200,000 new white-collar professionals by 2032.
Taiwan’s acute need for skilled labor spans diverse sectors including manufacturing, semiconductors, retail, hospitality, and construction. Sherry Chiang, an associate with Taipei’s 104 Job Bank, highlighted the stark disparity between job openings and local applicants, with the ratio reaching two positions per applicant.
Willingness to work in Taiwan
A significant portion of international students in Taiwan, have expressed their willingness to pursue employment on the island post-graduation. A recent survey has revealed that approximately 86 percent of international students are inclined to stay and work in Taiwan, buoyed by a new government initiative designed to encourage graduates to seek employment within the country.
The survey, associated with the Blue Ocean Education Exhibition, underscores Taiwan’s educational allure, primarily driven by the quality of education, safety, and opportunities to learn Chinese. This sentiment is supported by the National Development Council’s ambitious goal to attract 400,000 skilled foreign workers by 2032, half of whom are expected to come from the nation’s universities.
Taiwan’s appeal as a workplace is enhanced by its robust public transport system and a strong emphasis on science and technology education. This is particularly appealing to students from Southeast Asia, drawn by Taiwan’s New Southbound Policy aimed at fostering closer economic ties with the region.
The increase in foreign student population in Taiwan, peaking at 130,000 in 2019, indicates the growing interest and potential for international talent acquisition. Taiwanese firms, especially those with operations in Southeast Asia, are keen on harnessing this talent pool.
Regional trends
Taiwan’s policy mirrors a regional trend. Hong Kong extended its post-graduation stay duration to 24 months in 2022, and Japan and Singapore have been adapting their visa frameworks to attract and retain global talent. Despite these advancements, challenges such as cultural differences and a preference for local talent among employers could pose hurdles for foreign graduates.
Experts like Hu Jin-li from the National Yang Ming Chiao Tung University advocate for a more open approach towards skilled foreign professionals, similar to Singapore’s model. This, he argues, is crucial for Taiwan to avoid self-limitation and to thrive in the global talent market.
Comprehensive plan
In response to these trends, the Taiwanese government approved a comprehensive plan in September last year, involving scholarships, residency assistance, and new industry-academia joint programs, aiming to retain international graduates. The initiative, supported by an investment of NTD5.2 billion (approximately $164.69 million) over five years, targets attracting 320,000 international students by 2030 and retaining at least 210,000 graduates.
The Ministry of Education plans to open up to 10 overseas offices and introduce specialized programs, particularly in STEM and finance, to align with industry needs. These programs will be tailored to the requirements of Taiwanese businesses, focusing on fields like science, technology, engineering, mathematics, and finance.
Scholarships, residency assistance
Deputy Minister of Education Liu Mon-chi announced that students enrolled in two-year degree programs would be eligible for scholarships and living allowances. The government’s strategy also includes simplifying residence permit procedures, enabling international students to transition smoothly into the Taiwanese workforce.
The survey, gathering 2,175 valid responses, highlighted that students are keen on scholarship opportunities, English course offerings, and teaching quality. Post-graduation, securing employment in relevant fields is a top priority for many respondents.
Furthermore, Taiwan’s Education Minister Pan Wen-Chung announced a strategic plan to counter declining university enrollments due to a low birth rate. The plan includes attracting an additional 10,000 international students over the next four years, offering scholarships for those committing to work in Taiwan post-graduation.
