VP calls on Taiwanese businesses abroad to invest at home

副總統呼籲海外台商在返台投資

Lai stresses importance of investment from sustainable energy firms in particular


TAIPEI (Taiwan News) — Vice President Lai Ching-te (賴清德) called for Taiwanese businesses operating overseas to invest back into the country on Wednesday (Aug. 18).

Participating in an online forum, Lai said the COVID-19 pandemic has hugely impacted the world economy, having restructured global supply chains as well as shifting economic power and changing consumption habits, according to a CNA report.

These changes, he contends, pose both a challenge and an opportunity for Taiwan.

Taiwan's real gross domestic product (GDP) grew by 8.16% in the first quarter of this year, thanks to the country's success in containing the spread of the virus, Lai pointed out. However, the country also experienced a sudden surge in domestic COVID cases in May before gradually getting the virus under control, he noted.

Lai believes Taiwan's economy will maintain stable growth this year due to several factors, including increased economic activity following the relaxation of COVID-19 restrictions in other countries.

Increased opportunities brought by strong demand for work-from-home devices, the booming remote work economy and digital transformation, as well as robust exports and strong investment are also anticipated to add to growth this year, he said.

In order to guard against disruptions from geopolitical conflict and extreme climate in the post-COVID era, Taiwan must keep on creating new industrial value, developing multilateral trade ties, attracting investment, and developing sustainable energy, Lai said.

The vice president particularly stressed the importance of renewable energy firms investing back into Taiwan.

In line with international trends to reduce carbon emissions, Taiwan's energy transition plan is based on "promoting green energy, increasing natural gas, reducing coal-fired generation, and achieving nuclear-free energy."

The long-term goal is to ensure a stable power supply and reduce air pollution and carbon emissions, according to Lai.

Since energy transition is crucial to the international competitiveness of the industry, Lai urged collaboration between the government and private sector to promote sustainable energy development that will boost Taiwan's economy.