Minister of Economic Affairs Wang Mei-hua (王美花) and US National Institute of Standards and Technology (NIST) Director Laurie Locascio on Tuesday agreed to increase cybersecurity collaboration between the two countries, a Ministry of Economic Affairs official who is familiar with the matter said.
Wang and Locascio agreed at a meeting in Taipei to build up a joint cybersecurity supply chain under the US-Taiwan Technology Trade and Investment Collaboration (TTIC) framework, the official said.
The TTIC, established in December 2021, is a bilateral cooperation framework that aims to facilitate the development of joint commercial programs and bolster critical technology supply chains.
Photo: CNA
Initial areas of focus include semiconductors, 5G, electric vehicles, sustainable energy and cybersecurity.
The official said that many US information technology companies use Taiwan-produced hardware, and that the US hopes the nation would be able to manufacture advanced servers and 5G mobile networks to enhance cybersecurity.
Both countries could enjoy economic benefits from further cybersecurity cooperation, the official said.
Also on Tuesday, Locascio said at the opening ceremony of a US Business Day forum that the US was drafting a new version of the NIST Cybersecurity Framework, which it hoped to launch next year.
She said she hopes to discuss collaboration opportunities with Taiwan, for example to protect customer data privacy.
Many US start-ups are on the hunt for partners with expertise in cybersecurity, she said.
Locascio led a cybersecurity business development mission in Taiwan from Monday to yesterday, which introduced 13 US firms to some of Taiwan’s leading information and communication technology security, and critical infrastructure protection markets.
The delegation met with President Tsai Ing-wen (蔡英文), and visited the National Science and Technology Council and the Ministry of Digital Affairs to exchange ideas relating to cybersecurity and semiconductors, the NIST said.
Taiwan’s foreign exchange reserves hit a record high at the end of last month, surpassing the US$600 billion mark for the first time, the central bank said yesterday. Last month, the country’s foreign exchange reserves rose US$5.51 billion from a month earlier to reach US$602.94 billion due to an increase in returns from the central bank’s portfolio management, the movement of other foreign currencies in the portfolio against the US dollar and the bank’s efforts to smooth the volatility of the New Taiwan dollar. Department of Foreign Exchange Director-General Eugene Tsai (蔡炯民)said a rate cut cycle launched by the US Federal Reserve
Handset camera lens maker Largan Precision Co (大立光) on Sunday reported a 6.71 percent year-on-year decline in revenue for the third quarter, despite revenue last month hitting the highest level in 11 months. Third-quarter revenue was NT$17.68 billion (US$581.2 million), compared with NT$18.95 billion a year earlier, the company said in a statement. The figure was in line with Yuanta Securities Investment Consulting Co’s (元大投顧) forecast of NT$17.9 billion, but missed the market consensus estimate of NT$18.97 billion. The third-quarter revenue was a 51.44 percent increase from NT$11.67 billion in the second quarter, as the quarter is usually the peak
Nvidia Corp’s major server production partner Hon Hai Precision Industry Co (鴻海精密) reported 10.99 percent year-on-year growth in quarterly sales, signaling healthy demand for artificial intelligence (AI) infrastructure. Revenue totaled NT$2.06 trillion (US$67.72 billion) in the last quarter, in line with analysts’ projections, a company statement said. On a quarterly basis, revenue was up 14.47 percent. Hon Hai’s businesses cover four primary product segments: cloud and networking, smart consumer electronics, computing, and components and other products. Last quarter, “cloud and networking products delivered strong growth, components and other products demonstrated significant growth, while smart consumer electronics and computing products slightly declined,” compared with the
The US government on Wednesday sanctioned more than two dozen companies in China, Turkey and the United Arab Emirates, including offshoots of a US chip firm, accusing the businesses of providing illicit support to Iran’s military or proxies. The US Department of Commerce included two subsidiaries of US-based chip distributor Arrow Electronics Inc (艾睿電子) on its so-called entity list published on the federal register for facilitating purchases by Iran’s proxies of US tech. Arrow spokesman John Hourigan said that the subsidiaries have been operating in full compliance with US export control regulations and his company is discussing with the US Bureau of