The Ministry of Economic Affairs, the Taiwan External Trade Development Council (TAITRA), the American Institute in Taiwan (AIT) and the American State Offices Association yesterday jointly held the US Business Day investment forum at the Taipei International Convention Center as both sides gear up for more business opportunities together.
Deputy Minister of Economic Affairs Lin Chuan-neng (林全能) said in opening remarks that the Taiwan Strait issue has been a focus of global security, but foreign businesses still have confidence in Taiwan’s market, as companies such as Applied Materials Inc, ASML Holding NV and Merck Group continue to invest here.
“Taiwan is indeed a trustworthy partner in the global supply chain,” Lin was quoted as saying in a statement released by TAITRA.
Photo: Lin Jin-hua, Taipei Times
Taiwan and the US continue to strengthen economic and trade cooperation based on shared values, TAITRA chairman James Huang (黃志芳) said in the statement.
For example, US President Joe Biden last month signed into law a bill that approves the first agreement negotiated under the US-Taiwan Initiative on 21st-Century Trade, which is proof of the trust and cooperation between Taiwan and the US over the past decades, Huang said.
AIT Director Sandra Oudkirk was quoted as saying at the forum that bilateral investment between Taiwan and the US in the semiconductor, electric vehicle and 5G industries would help increase employment and economic growth on both sides, and boost cultural exchanges and business opportunities.
Many US states have established offices in Taiwan over the past three years, amid a closer relationship between Taiwan and the US, Oudkirk said, adding that 18 US companies, including Super Micro Computer Inc, attended the investment forum.
Last year, Taiwan was the US’ ninth-largest trading partner, while the US was Taiwan’s second-largest, as well as one of its most important sources of foreign direct investment and technological input, the TAITRA statement said.
This year, more than 200 Taiwanese businesses, including Lite-On Technolgy Corp (光寶科技), Compal Electronics Inc (仁寶電腦), Aerospace Industrial Development Corp (漢翔航空), Teco Electric and Machinery Co (東元電機) and Sinbon Electronics Co (信邦電子), attended the event to engage in one-on-one business meetings with US companies, it said.
Arizona Governor Katie Hobbs, who led a delegation to Taiwan for the forum, said in a speech at the event that her state is expecting more opportunities to cooperate with Taiwanese businesses following a spate of investment by firms in the Taiwanese semiconductor supply chain.
New Mexico Governor Michelle Lujan Grisham, who was also heading a delegation, spoke of the economic diversity of her state, with industrial investments focusing on green energy related to the hydrogen, aerospace, smart manufacturing, electric vehicle, information security and tourism sectors.
Hon Hai Precision Industry Co (鴻海精密) yesterday said that its research institute has launched its first advanced artificial intelligence (AI) large language model (LLM) using traditional Chinese, with technology assistance from Nvidia Corp. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), said the LLM, FoxBrain, is expected to improve its data analysis capabilities for smart manufacturing, and electric vehicle and smart city development. An LLM is a type of AI trained on vast amounts of text data and uses deep learning techniques, particularly neural networks, to process and generate language. They are essential for building and improving AI-powered servers. Nvidia provided assistance
GREAT SUCCESS: Republican Senator Todd Young expressed surprise at Trump’s comments and said he expects the administration to keep the program running US lawmakers who helped secure billions of dollars in subsidies for domestic semiconductor manufacturing rejected US President Donald Trump’s call to revoke the 2022 CHIPS and Science Act, signaling that any repeal effort in the US Congress would fall short. US Senate Minority Leader Chuck Schumer, who negotiated the law, on Wednesday said that Trump’s demand would fail, while a top Republican proponent, US Senator Todd Young, expressed surprise at the president’s comments and said he expects the administration to keep the program running. The CHIPS Act is “essential for America leading the world in tech, leading the world in AI [artificial
DOMESTIC SUPPLY: The probe comes as Donald Trump has called for the repeal of the US$52.7 billion CHIPS and Science Act, which the US Congress passed in 2022 The Office of the US Trade Representative is to hold a hearing tomorrow into older Chinese-made “legacy” semiconductors that could heap more US tariffs on chips from China that power everyday goods from cars to washing machines to telecoms equipment. The probe, which began during former US president Joe Biden’s tenure in December last year, aims to protect US and other semiconductor producers from China’s massive state-driven buildup of domestic chip supply. A 50 percent US tariff on Chinese semiconductors began on Jan. 1. Legacy chips use older manufacturing processes introduced more than a decade ago and are often far simpler than
Gasoline and diesel prices this week are to decrease NT$0.5 and NT$1 per liter respectively as international crude prices continued to fall last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. Effective today, gasoline prices at CPC and Formosa stations are to decrease to NT$29.2, NT$30.7 and NT$32.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$27.9 per liter at CPC stations and NT$27.7 at Formosa pumps, the companies said in separate statements. Global crude oil prices dropped last week after the eight OPEC+ members said they would
RSS