Legal Market Overview
Taiwan successfully contained the COVID-19 virus and bounced back after the initial period of slowdown in the first quarter of 2020, which saw financial activity across the legal sector greatly affected. However, merger and acquisition activity is now on the uptick with deals coming to the fore. In the geopolitical sphere, cross-strait transactions have solidified economic ties with China, and Taiwan has become a major source of investment in other Asian countries. Technology remains a key strength in its economy with a projected growth of 2% this year.
Over in the projects space, the renewable energy sector has been going from strength to strength with the success of the Formosa 1 wind project last year. This has attracted further financing and construction of large-scale offshore wind projects in Taiwan with local and international firms supporting on the lending side.
International firms are active in the market including Jones Day and Baker McKenzie who are able to leverage their regional networks for cross-border work alongside domestic firms such as Tsar & Tsai Law Firm and Lin & Partners Attorneys-At-Law who are the key names.