The Ministry of Economic Affairs (MOEA) held the 2024 Taiwan Business Alliance and Market Trend Forum on September 3. This year, for the first time, the event was combined with Taiwan's most representative international exhibition, SEMICON Taiwan, aiming to attract more international companies by showcasing Taiwan's strengths in the wave of AI-driven technological innovation. The goal is to encourage foreign firms to partner with local Taiwanese companies and tap into new business opportunities in Taiwan's growing AI tech ecosystem.
The forum, chaired by Minister of Economic Affairs Jyh-Huei Kuo saw active participation from nearly 300 attendees, including leaders from European, American, and Japanese chambers of commerce, as well as senior executives from multinational corporations such as AMD, HP, Infineon, Merck, Air Liquide, and Renesas Electronics Taiwan. Their presence underscored Taiwan's strong appeal as an international investment destination amidst the rise of AI.
In his opening remarks, Minister Kuo highlighted Taiwan's global significance despite its compact size, which is comparable to the Netherlands in Europe or the U.S. state of Maryland. Taiwan boasts the world's most comprehensive industrial clusters, particularly in the semiconductor sector, where it ranks first globally in wafer foundry and chip packaging and testing. This positions Taiwan as a crucial player in the global semiconductor supply chain. Echoing Jensen Huang, Kuo emphasized that the "age of AI has arrived and Taiwan is right in the middle of it." He expressed his excitement that several global chip giants, including NVIDIA and AMD, have chosen Taiwan for their R&D centers. Guo sees this as a win-win strategy, helping both Taiwan and its international partners maintain their leadership in the AI sector.
Minister Kuo also stressed the government's proactive efforts in promoting the Five Trusted Industry Sectors, with a goal to surpass NT$1 trillion in AI output by 2026, and to add NT$2.6 trillion in semiconductor output. On the talent front, Taiwan aims to cultivate 450,000 professionals, including digital and STEM talent, positioning the island as a technology hub. Foreign investment continues to be a key driver of Taiwan's economic growth, and the Minister extended a warm welcome to international investors to collaborate and share in Taiwan's success.
At this year's forum, 21 companies committed to future investments totaling approximately NT$115 billion. Minister Kuo signed Letters of Intent (LOI) with 12 representative companies, including Applied Materials, Inc., Carl Zeiss Co., Ltd., Central Glass Co., Ltd., Empyrion Co., Ltd., JRE Business Development Taiwan, Inc., Micron Technology Taiwan Co., Ltd., NXP Semiconductors Taiwan Ltd., SHL Medical, Swire Coca-Cola Beverages Ltd., Taiwan Fujibo Precision Materials Co., Ltd., Taiwan Tanaka Kikinzoku Kogyo Co., Ltd., and UPS Supply Chain Solutions (Taiwan) Co., Ltd. These investments amount to NT$46 billion. Japanese companies led the way with four firms signing LOIs, followed by three from the U.S., three from Europe, and two from other countries. The range of industries covered includes IC design, semiconductor manufacturing, semiconductor equipment, materials, biotechnology and medical devices, real estate development, and logistics and warehousing.
Spokesperson: Lin, Su-ling, Senior Executive Officer, MOEA DOIP
Tel: 02-2389-2111 ext.822
E-mail:
[email protected]Contact: Chen, Ying-Ju, Section Chief, MOEA DOIP
Tel: 02-2389-2111 ext. 210; 0920-560681
E-mail:
[email protected]