President Tsai Ing-wen (蔡英文) encouraged Taiwanese businesses to continue promoting Taiwan's international visibility in her speech at the 29th World Taiwanese Chambers of Commerce (WTCC) annual meeting on Monday.
Tsai also says the three major investment programs have been extended until 2024 and welcomes Taiwanese businesses to join the venture. The three major investment programs were launched by the government in 2019 aiming to raise Taiwanese businesses’ confidence to invest in Taiwan.
Tsai also mentioned Taiwan’s recent achievements with international trade partners. Tsai says with the signing of the first agreement under the U.S.-Taiwan Initiative on 21st Century Trade in June, she looks forward to signing the agreement for the avoidance of double taxation with the U.S. Tsai adds that the government’s Taiwan-Europe Connectivity Initiative continuously strengthens Taiwan’s cooperation in key industries such as biotechnology and electric vehicles with Europe. Tsai also says Taiwan has seen a record-breaking value of international trade with Southeast Asia under Taiwan's New Southbound Policy.
Tsai says Taiwan has seen an upsurge in investment in recent years. The three major investment programs coupled with the repatriation of offshore funds exceeding NT$ 2 trillion (US$63 billion) have driven Taiwan's economic growth.