Taiwan-US industrial cooperation gets boost

The Taiwan-USA Industrial Cooperation Promotion Office has created NT$30.54 billion (US$1.01 billion) in potential output since opening in August, according to the ROC Ministry of Economic Affairs Nov. 7.

Industrial modernization, cooperative projects and new investments by U.S. manufacturers were the stand-out performers, notching up respective gains of NT$16.35 billion, NT$14.19 billion and NT$1.15 billion.

These numbers indicate that the office’s development plan is on track, with industrial modernization programs and investment promotion activities paying dividends, an MOEA official said.

Backed by the MOEA Industrial Development Bureau, the office aims to spur bilateral economic activities by targeting key industries and networking with major U.S. research organizations and industries. This approach is raising Taiwan’s high-tech profile and producing a win-win result for both nations, the official added.

TUSA has made strong headway in helping Taiwan and the U.S. integrate laboratories, R&D centers and industrial clusters to promote important joint programs spanning intellectual property rights, photovoltaic and international exchanges of skilled personnel, the official said.

It has also streamlined the functions of various U.S. industry and trade groups in Taiwan, including the American Chamber of Commerce and American Institute in Taiwan’s business group. This enables U.S. investors to more easily forge local tie-ups and capitalize on Taiwan’s manufacturing prowess and strategic position.

Looking to next year, the office envisages establishing an innovative industrial promotional mechanism to spur two-way cooperation in the fields of industrial logistics operations, R&D planning, as well as manufacturing and marketing.