Foreign Minister Joseph Wu Meets World Taiwanese Chambers of Commerce Delegation, Pledges to Foster More Convenient Investment Environment for Allied Nations

(CNA, Taipei, July 9) Foreign Minister Joseph Wu met with the "32nd World Taiwanese Chambers of Commerce (WTCC) Homecoming Delegation" today, announcing that the Ministry of Foreign Affairs (MOFA) has revised its subsidy regulations to increase the cumulative maximum subsidy for businesses investing in allied nations to NT$60 million within seven years. MOFA will continue to work with relevant ministries to assist Taiwanese businesses in securing a more convenient business environment.

A MOFA press release issued this evening stated that Wu met with the "32nd WTCC Homecoming Delegation" led by WTCC President Chiang Sheng-hsiung at MOFA. The two sides engaged in extensive discussions on international economic and trade trends, comprehensive diplomacy, and the overseas strategies of global Taiwanese businesses.

In his address, Wu remarked that diplomatic work is no longer confined to traditional diplomacy but must integrate the strengths of the government, corporations, and the public to promote international cooperation with more substantial benefits. MOFA continues to advance "comprehensive diplomacy" and the "Diplomatic Allies Investment Promotion Plan" (DAIPP), transforming Taiwan's relationship with its allies from traditional aid to partnerships based on joint investment, co-management, and shared outcomes.

Wu further explained that many of Taiwan's allies possess the advantage of regional common markets. Currently, Taiwan is collaborating with Paraguay on projects such as the "Taiwan-Paraguay Smart Technology Park," AI computing power cooperation, talent cultivation, and smart healthcare. In Eswatini, MOFA will promote the "Taiwan Industrial Innovation Park" (TIIP) by integrating energy, healthcare, and industrial investment to assist Taiwanese businesses in leveraging local conditions in allied nations to expand into international markets.

Wu stated that MOFA recently revised the "Subsidy Regulations for Encouraging Businesses to Invest in Diplomatic Allies," increasing the cumulative maximum subsidy for businesses within seven years from NT$20 million to NT$60 million and expanding the scope of eligible subsidies, thereby strengthening government support for Taiwanese businesses' overseas expansion.

Chiang Sheng-hsiung expressed that the delegation can feel MOFA's work encompassing diverse aspects such as economics and trade, technology, industry, and public diplomacy. Global Taiwanese businesses, in addition to actively expanding Taiwan's economic and trade presence, will continue to support Taiwan through private sector efforts.

During the discussion session, Wu reiterated that MOFA will continue to collaborate with relevant ministries to assist Taiwanese businesses in securing a more convenient business environment. Using Belize as an example, he illustrated that Taiwan's cooperation with its allies extends beyond short-term aid, aiming to help allies build systems and capabilities through education, vocational training, talent development, language and culture, nursing, tourism, and agriculture and fisheries. (Editor: Chang Chun-mao) 9)