Taiwan seduces European investors seeking to dodge US-China trade war and coronavirus
- At a summit in Taipei this week, Taiwan’s President Tsai Ing-wen spoke of the rising interest from European firms in the island economy
- Firms from Germany, France and Benelux tempted by Taiwan’s booming tech and renewable energy sectors
Seeking shelter from the US-China trade war and lured by a largely coronavirus-free environment, European companies are pouring money into Taiwan’s technology and renewable energy sectors.
Even as supply chains around the world have been disrupted or ground to a halt, Taiwan’s successful management of the pandemic has meant it is among the few global economies that have not fallen sharply.
Even before the coronavirus hit, European Union companies were the single largest foreign investors in Taiwan, pumping NT$1 trillion (US$34.2 billion) into the economy, or 25 per cent of Taiwan’s all time total inbound investment, President Tsai Ing-wen told the forum in Taipei. This had risen five-fold since 2016’s cumulative total of NT$210 billion and comes amid growing interest in Taiwan as an investment destination.
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Taiwan President Tsai Ing-wen visits military base following ‘provocations’ from mainland China