2024 Hiring and Retaining Overseas Compatriot Student Information Session for Enterprises
As globalization accelerates, many Taiwanese companies aspire to expand into international markets and stand out in a highly competitive business environment. Overseas students, with their global perspectives and language abilities, are undoubtedly ideal partners for companies aiming to enter these markets. To promote connections between Taiwanese businesses and overseas students, the Overseas Community Affairs Council (OCAC) partnered with CrossBond to host the "2024 Overseas Students Employment Seminar" in Taipei, Taichung, Kaohsiung, and online, to help domestic companies better understand the policies, regulations, and job opportunities related to hiring graduate overseas students.
Overseas Students' Contribution to Taiwan's Internationalization and Economic Growth:
The Role of Overseas Students and Government Policy Support
With increased government policy support and proactive university admissions in Taiwan, the number of overseas students has steadily risen, becoming an important talent resource for Taiwanese companies. OCAC Chairperson Hsu Chia-ching emphasized that overseas students, with their international outlook and language skills, can provide strong support for the international development of Taiwanese businesses. To this end, the government has promoted a range of preferential policies, gradually easing the conditions for overseas students studying and working in Taiwan to create a supportive employment environment.
The Competitive Edge of Overseas Students
OCAC Deputy Chairperson Lu Yuan-rong highlighted the significant cross-cultural and multilingual capabilities of overseas students, which are crucial for Taiwanese companies looking to expand internationally. He encouraged companies to value the potential of overseas students and offer them more job opportunities to attract outstanding talent to stay in Taiwan.
OCAC's Comprehensive Services
OCAC Secretary General Chang Liang-min noted that the OCAC supports overseas communities, businesses, education, and students through departments such as the Overseas Community Affairs Department, the Overseas Business Department, and the Overseas Education Department. This event, organized by the Overseas Students Department, showcases OCAC’s efforts to connect Taiwan's development with overseas communities and reflects its commitment to responding to domestic talent needs.
Specific Support Measures
OCAC Counselor Rong You-e pointed out during the seminar that the government has extended the job-seeking period for overseas graduates to two years and increased the quota for the points-based system to 7,000, boosting employment opportunities for overseas students and encouraging their long-term development in Taiwan.
Departmental Highlights: Policies and Data Analysis
National Development Council (NDC): Addressing Labor Shortages and Talent Introduction Policies
The NDC stated that due to Taiwan's aging population and low birth rate, labor shortages have become a long-term challenge. The NDC underscored the urgency of expanding the labor supply and introducing talent from New Southbound countries. Since 2020, the NDC has worked with various ministries to implement population policies and immigration measures, encouraging overseas students to stay and work in Taiwan to support industrial development. Taiwanese companies can recruit skilled overseas students and foreign degree holders based on salary and academic qualifications through the points-based system to attract top international talent.
Overseas Community Affairs Council (OCAC): Strengthening Overseas Students' Employment and Industry-Academia Collaboration
OCAC concluded that in the face of intense global talent competition, especially with neighboring countries like Japan actively attracting talent, it is committed to expanding education and employment opportunities for overseas students in Taiwan. By promoting university admissions, industry-academia cooperation, and organizing job fairs and online matching platforms, OCAC helps integrate overseas students into Taiwanese society and connect them with businesses. Chairperson Hsu Chia-ching emphasized that overseas students’ cross-cultural experiences and language abilities are valuable resources for companies aiming for international expansion. Hiring overseas students can enhance international competitiveness and facilitate entry into foreign markets through their multilingual skills and cultural insights.
National Immigration Agency (NIA): Job-Seeking Period Extension and Residency Policies
The NIA recently introduced 63 new regulations under immigration law, extending the job-seeking period for graduates to one year, with an additional one-year extension, thus increasing the opportunities for overseas students to find work in Taiwan. The new policies allow overseas graduates to apply for a residency visa from abroad or continue their employment qualifications with a work permit in Taiwan. The NIA stressed that companies and schools should actively assist with residency applications and renewals to support smooth employment for overseas students in Taiwan.
MOEA International Trade Institute (ITI): Support Measures for Talent Flow and Industry Needs
ITI of the Ministry of Economic Affairs (MOEA) highlighted the "Contact Taiwan" platform, established in 2016, which has 2,000 member companies and 20,000 registered international professionals from countries such as India, Indonesia, and Vietnam. This platform provides Taiwanese companies with talent in fields such as semiconductors, optoelectronics, and ICT, leveraging Taiwan’s global competitiveness, health indices, and safety to attract international professionals. The high educational backgrounds of platform members (48% bachelor's, 38% master's, 6% doctorate) have been crucial for the development of Taiwan's tech and green energy industries.
Ministry of Labor (MOL): Points-Based System and Simplified Residency Applications
MOL noted that overseas and foreign students can apply to work in Taiwan based on salary, work experience, or through the points-based system. Since its launch in 2014, the system has gradually been digitized, with the quota now increased to 7,000. Achieving 70 points qualifies overseas students for employment in Taiwan. MOL reminded companies to provide work permits and assist students with application processes to ensure smooth procedures. The points-based system significantly lowers the barrier for overseas students, enabling many to secure long-term employment in Taiwan.
Employment Outcomes and Future Outlook for Overseas Students
Since 2014, approximately 48,000 overseas and foreign students have chosen to work in Taiwan, including about 21,000 overseas students. These students have showcased their talents across various industries, contributing to the diversification and enhancement of Taiwan’s economy. With continued policy support from the government and various ministries, Taiwan is set to become an ideal career development destination for overseas students, nurturing a pool of internationally-minded talent for Taiwanese companies.
Panel Discussion: Challenges Faced by Overseas Students in Employment
