The United States is encouraging Taiwanese businesses in the semiconductor industry to apply for U.S. subsidies. That came from the Minister without Portfolio John Deng (鄧振中) when he met with U.S. Commerce Secretary Gina Raimondo on Thursday.
Deng led a delegation to attend the SelectUSA Investment Summit in Washington. The delegation’s visit also includes meetings with the U.S. government agencies and lawmakers.
Deng says he hopes the U.S. will provide more concrete support for Taiwanese businesses because investing in the U.S. comes at a relatively higher cost. He says he hopes the assistance can expand beyond just semiconductor manufacturers and include businesses related to the industry, such as equipment and material suppliers. Deng says Raimondo responded positively to his comments.
The U.S. passed the CHIPS Act last year which includes US$52.7 billion for domestic research and semiconductor production. The act also provides tax credits for companies investing in chip production.
Deng says the U.S. Commerce Department encourages any business that is involved in the semiconductor industry to apply for its subsidies, and each application request will be evaluated on a case-by-case basis.
Deng says he told Raimondo that local and foreign investors are still confident in Taiwan. He says some investors are worried about the political situation in Taiwan, but he says many of these concerns are overblown and often do not reflect the real situation on the ground.
Deng says he hopes the U.S. continues to invest in and engage with Taiwan, and he welcomes more U.S. delegations to visit the country. Head of the Foreign Trade Bureau Cynthia Kiang (江文若) says the U.S. Commerce Department will send a delegation to Taiwan this September.
Meanwhile, Raimondo says she is willing to help facilitate conversations between Taiwan and the U.S. Treasury Department to resolve the double taxation concerns raised by Taiwanese investors.