Taiwan touts $900 million in new business

Island’s position as producer has prompted worries in the US

TAIPEI:

Taiwan’s economy minister has drummed up new business worth T$30 billion ($940 million) in meetings with top executives at four major tech firms in California’s Silicon Valley, the ministry said on Saturday.

Wang Mei-hua has been in the United States all week to respond to what her office has called “concerns” about supply chains and geopolitical issues. Taiwan is a major semiconductor producer, home to the world’s largest contract chip maker, Taiwan Semiconductor Manufacturing Corp and supplies most of the world’s major tech firms.

The island’s position as a producer has prompted worries in the US it is too reliant on Taiwan, especially as China ramps up military drills to assert its sovereignty claims. Wang met executives on Friday from NVIDIA Corp, Cisco Systems Inc, Applied Materials Inc and Synopsys Inc, the ministry said in a statement.

“The visits are expected to bring back US research and development investment and orders in Taiwan worth more than T$30 billion,” it said.

Published in The Express Tribune, October 16^th, 2022.

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