PRACTICAL MOVE:
Taiwanese firms have invested more than US$52 million in the state since 2013, while 16 domestic companies are in talks with Daimler Truck
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By Yang Yau-ju and Jonathan Chin / Staff reporter, staff writer
The US state of North Carolina yesterday opened a Taiwan investment office as a springboard for regional trade in recognition of the nation’s key economic role in Asian markets, the Atlanta branch of the Taiwan Economic and Cultural Office (TECO) said.
Taiwan welcomes the State of North Carolina Taiwan Office’s founding, as it marks a new chapter in the two sides’ relationship, TECO said in a news release.
It is the 17th state government in the US to establish a representative office in Taiwan, it said, adding that the nation aims to collaborate with the state in the development of trade, culture, education and technology.
Photo: Reuters
North Carolina was named the top state for business by CNBC last year and in 2021, TECO said, adding that it is home to the Research Triangle Park, PepsiCo, Krispy Kreme and a large portion of the world’s electric vehicle industry.
Raleigh’s decision to create an investment office was partly prompted by the possibility of collaborating in electric vehicle manufacturing, it said, adding that 16 Taiwanese firms are engaged in talks with North Carolina-based Daimler Truck.
Lite-On Technology Corp, TECO Electric & Machinery, Tron Energy Technology Corp and Phihong Technology Co are among the 16 Taiwanese electric vehicle and component makers involved in the deal, TECO said.
Taiwanese firms, including Anderson Group, HTC Global Services and Everest Textiles, have since 2013 invested more than US$52 million and created 846 local jobs in North Carolina, the state said in a news release, citing state Secretary of Commerce Machelle Baker Sanders.
North Carolina’s exports to Taiwan last year amounted to US$372.6 million, while imports totaled US$1.68 billion, she said, adding that Taiwan is the US’ ninth-largest trade partner and the 20th-largest economy in the world.
Taiwan’s investments in the state have continuously increased, especially in the microchip and green energy sectors, Economic Development Partnership of North Carolina CEO Christopher Chung was quoted as saying.
North Carolina recognizes the resilience of Taiwan’s economy and hopes to enhance bilateral cooperation through innovation, cooperation and growth, he said.
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