Texas Governor Greg Abbott kicked off his economic development tour in Taipei with a meeting with Taiwanese President Lai Ching-te to discuss opportunities for strengthening the bond between Texas and Taiwan. "I was honored to meet with President Lai Ching-te today to discuss strengthening the economic and cultural bond between Texas and Taiwan," Abbott stated, according to official news release. Key topics included increasing trade relations and advancing industries crucial to both economies, such as semiconductors, energy, and electric vehicle manufacturing.
Continuing this theme of cooperation, the Governor moved to sign an Economic Development Statement of Intent (EDSI) alongside Taiwan's Minister of Economic Affairs Jyh-Huei Kuo. This agreement was designed to not just recognize but to actively promote increased investment and trade between the two regions. The official announcement of the State of Texas Taiwan Office was also made, strategically placed under the Texas Economic Development & Tourism Office, to further facilitate collaboration and mutual economic growth.
At a luncheon hosted by Taiwan's Minister of Foreign Affairs Lin Chia-Lung, Gov. Abbott met with Taiwanese business leaders, emphasizing Texas's business-friendly climate. The Governor highlighted the state's skilled workforce, low taxes, and promising business environment to entice continued Taiwanese investment. Governor Abbott's efforts seem to be paying dividends, with Taiwan standing as the largest foreign investor in Texas in 2022, and companies from Taiwan having invested over $5 billion in the state over the last decade.
In a particularly important meeting, Gov. Abbott sat with the Chairman & CEO of GlobalWafers and Sino-American Silicon Products, Doris Hsu, giving his thanks for her company's significant investment in Texas's tech industry. The dialogue centered around ways to more deeply intertwine Texas and Taiwan in the semiconductor sector, an industry essential to the global economy, where Texas has been the national leader in exports for over a decade. The trip, under the financial cover of the Texas Economic Development Corporation, continues to Seoul, South Korea, where the Governor will look to forge similarly beneficial economic relationships.
