Lithuania reaffirmed via videoconference yesterday evening its intention to open a trade office in Taiwan this spring, while Taiwan reiterated pledges of US$200 million in investment funds and US$1 billion in credit loans, as the two nations work toward deepening their economic cooperation.
National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said that the government and businesses in Taiwan have come up with concrete details and projects to fulfill pledges they made during a delegation’s visit to the European country in October last year.
“Whichever companies from Taiwan and Lithuania are interested in investment projects or joint ventures in Lithuania can apply for the investment funds and credit loans,” Kung said.
Photo: CNA
The pledge remains valid as long as projects and ventures benefit both sides, Kung said when asked by reporters from Lithuania if there were conditions on funding approval.
Lithuania drew the ire of Beijing after allowing the opening of the Taiwanese Representative Office in Vilnius in November last year, as Beijing considers the use of the word “Taiwanese” a contravention of its “one China” principle.
Taiwan can raise the amounts of the investment fund and credit loans if necessary, Kung said.
The two sides signed six memorandums of understanding last year on cooperation in semiconductor talent, the semiconductor industry, biotechnology, and scientific research and development, among other areas.
Lithuanian Minister of the Economy and Innovation Ausrine Armonaite said that companies in her country are capable of taking part in making 28-nanometer and 40-nanometer chips, while the country’s laser industry is a global leader.
Lithuania would like to tap into the semiconductor industry, in which Taiwanese companies command a technological lead, she said.
The trade office in Taiwan is under administrative review and should be established soon, along with outposts in other parts of the world, she said.
The investment fund would be used in grooming Lithuania’s human resources and manufacturing industries, the minister said, declining to elaborate out of respect for interested corporations.
Armonaite asked for Taiwan’s help with exports because Beijing is punishing her country for its friendly interactions with Taiwan.
Exports account for 70 percent of Lithuania’s GDP, according to World Bank data.
Kung promised to lend a helping hand and said that a trade office in Taiwan would help expand the scope of cooperation.
Lithuanian said its exports to Taiwan totaled 19 million euros (US$21.54 million) in 2020, while imports from Taiwan totaled 66 million euros, less than 1 percent of its foreign trade, which indicates that there is ample room for growth.
People can preregister to receive their NT$10,000 (US$325) cash distributed from the central government on Nov. 5 after President William Lai (賴清德) yesterday signed the Special Budget for Strengthening Economic, Social and National Security Resilience, the Executive Yuan told a news conference last night. The special budget, passed by the Legislative Yuan on Friday last week with a cash handout budget of NT$236 billion, was officially submitted to the Executive Yuan and the Presidential Office yesterday afternoon. People can register through the official Web site at https://10000.gov.tw to have the funds deposited into their bank accounts, withdraw the funds at automated teller
PEACE AND STABILITY: Maintaining the cross-strait ‘status quo’ has long been the government’s position, the Ministry of Foreign Affairs said Taiwan is committed to maintaining the cross-strait “status quo” and seeks no escalation of tensions, the Ministry of Foreign Affairs (MOFA) said yesterday, rebutting a Time magazine opinion piece that described President William Lai (賴清德) as a “reckless leader.” The article, titled “The US Must Beware of Taiwan’s Reckless Leader,” was written by Lyle Goldstein, director of the Asia Program at the Washington-based Defense Priorities think tank. Goldstein wrote that Taiwan is “the world’s most dangerous flashpoint” amid ongoing conflicts in the Middle East and Russia’s invasion of Ukraine. He said that the situation in the Taiwan Strait has become less stable
CONCESSION: A Shin Kong official said that the firm was ‘willing to contribute’ to the nation, as the move would enable Nvidia Crop to build its headquarters in Taiwan Shin Kong Life Insurance Co (新光人壽) yesterday said it would relinquish land-use rights, or known as surface rights, for two plots in Taipei’s Beitou District (北投), paving the way for Nvidia Corp to expand its office footprint in Taiwan. The insurer said it made the decision “in the interest of the nation’s greater good” and would not seek compensation from taxpayers for potential future losses, calling the move a gesture to resolve a months-long impasse among the insurer, the Taipei City Government and the US chip giant. “The decision was made on the condition that the Taipei City Government reimburses the related
FRESH LOOK: A committee would gather expert and public input on the themes and visual motifs that would appear on the notes, the central bank governor said The central bank has launched a comprehensive redesign of New Taiwan dollar banknotes to enhance anti-counterfeiting measures, improve accessibility and align the bills with global sustainability standards, Governor Yang Chin-long (楊金龍) told a meeting of the legislature’s Finance Committee yesterday. The overhaul would affect all five denominations — NT$100, NT$200, NT$500, NT$1,000 and NT$2,000 notes — but not coins, Yang said. It would be the first major update to the banknotes in 24 years, as the current series, introduced in 2001, has remained in circulation amid rapid advances in printing technology and security standards. “Updating the notes is essential to safeguard the integrity
RSS