TAIPEI (Taiwan News) — Taiwan’s economics ministry said it will help local companies expand in the US as about 20 firms prepare investment plans worth up to NT$1.1 trillion (US$35 billion), CNA reported Sunday.
The ministry said Taiwan and the US are deepening cooperation to strengthen Taiwan’s role in the AI industry. Economics Minister Kung Ming-hsin (龔明鑫) recently led a group of Taiwan business representatives to meet US officials and industry leaders.
It said Taiwan’s strong economy and manufacturing base give local firms a solid foundation for overseas expansion. Taiwan is also an important part of the global AI supply chain.
The government will offer three main support measures, per Economic Daily News. These include financing assistance, support for setting up industrial parks modeled on Taiwan’s manufacturing clusters, and local trade and investment services.
A government development fund will work with financial institutions to set up a credit guarantee system. The ministry said this will help Taiwan companies secure loans and other financing when they invest overseas.
The ministry also signed an agreement with a Taiwan electronics industry group, per UDN. The agreement will help companies find suitable sites in the US and build supply chain systems there.
The government will set up a trade and investment center in Phoenix. The center will work with Taiwan’s office in Dallas to give companies one-on-one advice on regulations, tax planning, business leasing, and other local issues.
The ministry also linked overseas expansion to stable energy supplies. It said Taiwan’s state-owned oil company signed a long-term natural gas deal with a US energy company in February.
Deliveries under the deal began in June, the ministry said. The US company will supply 1.2 million tonnes of natural gas a year to help strengthen Taiwan’s energy security amid global political uncertainty.