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Ministry of Economic Affairs,R.O.C.

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2022-09-20 09:30
Department of Investment Services

MOEA Delegation to the US - Highlighting Taiwan`s Strategic Position in Global Supply Chain to Positive Reception from Foreign Businesses

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MOEA Delegation to the US Highlighting Taiwan`s Strategic Position in Global Supply Chain to Positive Reception from Foreign Businesses
Geopolitical risks are rising worldwide due to the Russo-Ukrainian War. In order to bolster confidence in multinational corporations to invest in Taiwan, Deputy Minister of Economic Affairs Chern-Chyi Chen led a delegation to the US last week (September 11 to 17) to visit key US corporations in biotechnology and drone services. The aim was to enhance Taiwan and US supply chain cooperation and promote investment opportunities in Taiwan. The delegation also hosted a forum discussion in New York for exchange to highlight Taiwan`s strategic position in the global supply chain, in hopes that the US can serve as a trusted supply-chain ally.

The forum discussion was attended by over 50 representatives from important local think tanks, investment companies, private equity firms, industry associations, and US businesses. With regards to the geopolitical risks of recent public concern, Deputy Minister Chen placed particular emphasis on the fact that Chinese military exercises have not impeded Taiwan`s economy or sea and air transportation. According to a survey by the American Chamber of Commerce in Taiwan, most foreign businesses in Taiwan remain optimistic about the future of investing in Taiwan. Compounded with Taiwan`s highly resilient and efficient supply chain, as well as Taiwan businesses` inclination towards mutually beneficial cooperation and partnerships, Taiwan remains the world`s best supply chain partner. Attendees expressed their agreement and mentioned the prevailing belief in expanding cooperation between Taiwan and the US. Professor Peter Chow of the City University of New York also presented actual economic data and called upon the US to sign a bilateral trade agreement with Taiwan.

The delegation is expected to open CDMO dialogues among world-renowned biomedical manufacturers, medical technology companies, and Taiwanese R&D institutes, and facilitate cooperation in medical consumables, minimally invasive devices, and biomedical materials, etc.

Also, the delegation paid a visit to SkySkopes - one of the top five suppliers of drone applications and services, and number one in the US - and met with the President and CEO Matt Dunlevy, who expressed great interest in working with Taiwanese businesses and looks forward to visiting Taiwan to begin negotiations.

The delegation`s visit was greatly valued by all US businesses, who affirmed Taiwan`s prowess in the field of semiconductors and ICT and also expressed confidence in Taiwan`s investment environment. The delegation also met with academics from US think tanks to gain a better understanding of how the US views the economic safety and situation of the Taiwan Strait. Through face-to-face discussions with the headquarters of multinational corporations, the delegation has strengthened confidence in Taiwanese industries and the effectiveness of the Taiwan government, which will promote Taiwan-US supply chain cooperation and usher US investment plans in Taiwan. The MOEA shall also continue to attract foreign businesses with precision by targeting key industries to enhance Taiwan`s strategic position in the global supply chain.

Spokesperson: Victoria H. P. Hsieh, Deputy Director General, Dept. of Investment Services
Telephone: +886 (02) 2389-2111 ext. 810
Email: hphsieh@moea.gov.tw

Business Contact: Ying-Ju Chen, Section Chief, Dept. of Investment Services
Telephone: +886 (02) 2389-2111 ext. 210
Email: yjchen2@moea.gov.tw