Taiwan tech firms plan NT$1 trillion in US investments

台灣科技公司計劃投資1兆新台幣

TAIPEI (Taiwan News) — Taiwanese semiconductor and technology companies are planning about NT$1 trillion (US$35 billion) in new investments in the US, Economics Minister Kung Ming-hsin (龔明鑫) said Wednesday.

Speaking in Washington, Kuo said around 20 Taiwanese firms, including GlobalWafers and Foxconn, have expressed investment intentions in the US, per CNA. The figure does not include TSMC, whose separate US expansion plans already total NT$5.17 trillion.

Kung and National Development Council Minister Yeh Chun-hsien (葉俊顯) led Taiwan’s delegation to the SelectUSA Investment Summit earlier this week, where Taiwan again sent the largest delegation with 113 companies and 207 representatives. The group included major chip firms as well as small businesses.

Kung said Taiwan and the US have maintained communication on investment following the signing of an investment memorandum and reciprocal trade agreement earlier this year. He added that US Commerce Secretary Howard Lutnick also met the Taiwanese delegation during the summit.

Taiwan and the US are also working on double taxation relief legislation, Kung explained. He said US senators he met during the trip were supportive of the bill, adding that its passage is “only a matter of timing.”

CPC Corp. separately held a contract exchange ceremony with US LNG exporter Cheniere, following a 25-year LNG purchase agreement signed in February aimed at strengthening Taiwan’s energy supply resilience.