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AIT director calls Taiwan trusted partner at U.S. investment summit

2021-06-11
Focus Taiwan
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From SelectUSA's Twitter page
From SelectUSA's Twitter page

Taipei, June 9 (CNA) American Institute in Taiwan (AIT) Director William Brent Christensen said Wednesday at a virtual United States investment summit that Taiwan is a "trusted partner in securing critical global supply chains."

In a statement, the AIT noted that Taiwan is being represented by Minister without Portfolio John Deng and some 220 delegates from 153 companies across the country at the U.S. Department of Commerce's SelectUSA Investment Summit, which is being held June 7-10.

"This represents the largest single delegation from a foreign market to ever attend the annual summit, which is now in its eighth year," the AIT said.

The AIT expressed appreciation for the keen interest shown by Taiwan businesses and for the partnership with Taiwan in assembling the trade delegation for the investment summit, which it said brings together business opportunities and resources from across the U.S.

U.S. President Joe Biden is scheduled to deliver keynote remarks at the investment summit, which is being hosted by U.S. Secretary of Commerce Gina Raimondo with the goal of connecting global companies and American economic development organizations (EDOs) to facilitate foreign direct investment (FDI) in the U.S., according to the AIT.

Apart from the global summit, the AIT said, it has also organized customized virtual meetings between the Taiwan delegates and more than 40 partners.

The meetings with government and industry leaders will seek to explore opportunities in sectors such as electric vehicles, semiconductors, the semiconductor supply chain, unmanned aerial vehicles, and personal protective equipment, the AIT said.

"We created a customized program for these strategic sectors in order to deepen our commercial ties with Taiwan, a trusted partner in securing critical global supply chains, which is a top priority of the Biden Administration," Christensen was quoted as saying in the AIT statement.

Since 2017, investment projects directly tied to the investment summit have totaled over US$44 billion, supported more than 37,000 jobs, expanded exports, and driven innovation through manufacturing, services, and increased research and development, according to the AIT.

The annual investment summit has helped the U.S. attract more foreign direct investment than any other country in the world, with a total value of US$4.46 trillion at the end of 2019, it said.

"These investments support more than 14 million direct and indirect U.S. jobs and were responsible for more than one-quarter of the US$382.7 billion of U.S. goods exports," said the AIT, the de facto American embassy in Taiwan.

It said Taiwan companies currently operating in the U.S. support 19,100 jobs, invest almost US$159 million annually in research and development, and contribute US$1.6 billion to the export of American goods.

As of the end of 2019, FDI from Taiwan companies totaled US$47 billion, the AIT said, citing the latest available data.

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