The third edition of the EU Investment Forum would be held in Taipei next month, focusing on opportunities in sustainable industries in the EU, the European Economic and Trade Office (EETO) said on Wednesday.
The one-day event, to be held on Oct. 25, would include a series of discussions on how Taiwan and the EU can collaborate on building a sustainable future, the office said.
Kerstin Jorna, director-general of the European Commission’s Department of Internal Market, Industry, Entrepreneurship and SMEs, would deliver a keynote address, titled the “European Green Deal: A transition toward climate neutrality, circular and competitive economy,” the office said.
Other participants would provide information about the investment environment, regulations and policies in the EU, with regard to various industries in different nations, it said.
President Tsai Ing-wen (蔡英文), Minister of Economic Affairs Wang Mei-hua (王美花) and other top government officials are scheduled to attend the opening ceremony, the office said.
EETO Director Filip Grzegorzewski told a news conference that the EU has resources such as professional workers, top academic and research institutes, and excellent infrastructure.
It would be in the interest of Taiwanese companies to invest in the EU’s 27 member nations and benefit from its single market, he said.
As the biggest investor in the nation, the EU has “a commitment to Taiwan,” and sees the nation as a “like-minded partner” and “a fellow democracy” that values the rule of law, Grzegorzewski said.
“We want to see Taiwan grow; we want to see Taiwan develop. We want Taiwan to internationalize... We want Taiwan to be part of the international community,” he said.
Amid global challenges, such as supply chain disruptions and energy crises, Taiwan and the EU would be “better off” if they work together and share their experiences, Grzegorzewski added.
Deputy Minister of Economic Affairs Chen Chern-Chyi (陳正祺) told the news conference that the government maintains its policy to “help Taiwanese businesses connect internationally.”
“We encourage our companies to form and to integrate into European supply chains to become trusted and reliable partners of Europe,” Chen said.
The EETO said that it plans to hold two other business events next month. The first one would be held on Tuesday next week in Taoyuan, featuring the electric vehicle industry, while the other, scheduled for Oct. 8 in Kaohsiung, is to focus on the information and communication technology industry.
EU-based companies in 2020 invested a total of US$48.8 billion in Taiwan, accounting for 25.7 percent of total foreign direct investment that year, while Taiwanese firms invested US$7.3 billion in the EU, EETO data showed.
Leading Taiwanese bicycle brands Giant Manufacturing Co (巨大機械) and Merida Industry Co (美利達工業) on Sunday said that they have adopted measures to mitigate the impact of the tariff policies of US President Donald Trump’s administration. The US announced at the beginning of this month that it would impose a 20 percent tariff on imported goods made in Taiwan, effective on Thursday last week. The tariff would be added to other pre-existing most-favored-nation duties and industry-specific trade remedy levy, which would bring the overall tariff on Taiwan-made bicycles to between 25.5 percent and 31 percent. However, Giant did not seem too perturbed by the
Foxconn Technology Co (鴻準精密), a metal casing supplier owned by Hon Hai Precision Industry Co (鴻海精密), yesterday announced plans to invest US$1 billion in the US over the next decade as part of its business transformation strategy. The Apple Inc supplier said in a statement that its board approved the investment on Thursday, as part of a transformation strategy focused on precision mold development, smart manufacturing, robotics and advanced automation. The strategy would have a strong emphasis on artificial intelligence (AI), the company added. The company said it aims to build a flexible, intelligent production ecosystem to boost competitiveness and sustainability. Foxconn
TARIFF CONCERNS: Semiconductor suppliers are tempering expectations for the traditionally strong third quarter, citing US tariff uncertainty and a stronger NT dollar Several Taiwanese semiconductor suppliers are taking a cautious view of the third quarter — typically a peak season for the industry — citing uncertainty over US tariffs and the stronger New Taiwan dollar. Smartphone chip designer MediaTek Inc (聯發科技) said that customers accelerated orders in the first half of the year to avoid potential tariffs threatened by US President Donald Trump’s administration. As a result, it anticipates weaker-than-usual peak-season demand in the third quarter. The US tariff plan, announced on April 2, initially proposed a 32 percent duty on Taiwanese goods. Its implementation was postponed by 90 days to July 9, then
AI SERVER DEMAND: ‘Overall industry demand continues to outpace supply and we are expanding capacity to meet it,’ the company’s chief executive officer said Hon Hai Precision Industry Co (鴻海精密) yesterday reported that net profit last quarter rose 27 percent from the same quarter last year on the back of demand for cloud services and high-performance computing products. Net profit surged to NT$44.36 billion (US$1.48 billion) from NT$35.04 billion a year earlier. On a quarterly basis, net profit grew 5 percent from NT$42.1 billion. Earnings per share expanded to NT$3.19 from NT$2.53 a year earlier and NT$3.03 in the first quarter. However, a sharp appreciation of the New Taiwan dollar since early May has weighed on the company’s performance, Hon Hai chief financial officer David Huang (黃德才)