Maryland Secretary of State Susan Lee (李鳳遷) yesterday welcomed increased investment from Taiwan in the state, citing Maryland’s top-tier talent pool, proximity to federal research institutions, and its strategic position as a key East Coast maritime gateway.
"We want Taiwan companies and investors to come to Maryland because there are so many things that we can offer," Lee said in an interview with the Central News Agency prior to attending a forum on Taiwan-US trade and investment opportunities in Taipei today.
She highlighted commercial sectors such as cybersecurity and life sciences as well as emerging technologies in artificial intelligence, quantum technology and aerospace as areas where Maryland hopes to deepen cooperation with Taiwan.
Photo: CNA
Taiwanese companies may have access to public sector financial support in the future, Lee said.
Late last year, the Maryland Technology Development Corp (TEDCO) signed an agreement with the APAC Investment and Innovation Development Association Taiwan (TAIIDA) and SFIC Group, enabling up to US$50 million from TAIIDA and SFIC to be coinvested alongside qualified TEDCO investment programs.
The program is in the early stages of planning, and the details are still being worked out, she said.
According to TEDCO, eligible entities include Taiwanese subsidiaries of Maryland-based businesses; joint ventures between Maryland and Taiwan-based companies; and Maryland firms using the investment to expand manufacturing in Taiwan or pursue market expansion in Asia.
Asked what makes Maryland an attractive destination for Taiwanese investment, Lee pointed to the state’s world-class higher education institutions, such as Johns Hopkins University and the University of Maryland.
These institutions contribute to the state having one of the highest concentrations of scientists in the US.
Maryland also offers proximity to major federal regulatory and research agencies, including the US Food and Drug Administration and the National Institutes of Health, making it easier for companies and researchers to bring products through the commercialization process.
Lee also highlighted the Port of Baltimore, a deep-water port that serves as a gateway for distributing goods across the US.
She welcomed news that Taiwan-based carrier EVA Air is to launch direct flights to Washington in June, helping address the limited number of direct connections between Asia and the southeastern US.
"That will really bring us closer together," she said.
Lee, who became Maryland’s 72nd secretary of state in 2023 after serving more than two decades in the state legislature, said Taiwan and Maryland have enjoyed a decades-long friendship.
She added that Maryland is home to a large Taiwanese-American and Chinese-American population that is highly educated and engaged in civic and community affairs.
"They are very active and serve as informal ambassadors between Taiwan and Maryland," she said.
Lee and Judy Smith, chief strategy officer at Maryland’s Department of Commerce, are visiting Taiwan primarily to attend a one-day forum on Taiwan-US trade and investment opportunities in Taipei today.
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