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Published Date: 2021-07-22
An Investment
Climate Statement released by the US State Department on Wednesday says “Taiwan
is an important market in regional and global trade and investment.”
The report says
that’s because “Taiwan is at the center of regional high-technology supply
chains due to its dominant role in the international technology supply chain
with its advanced R&D capability in developing products for emerging
technologies.” These technologies include semiconductors, 5G telecommunication,
AI, and the Internet of Things (IoT.)
The report also
says Taiwan is a “critical link in global supply chains, a central hub for
shipments and transshipments in East Asia, and a major center for advanced
research and development (R&D).”
In addition, the
report says that Taiwan, the United States’ 9th largest trading partner in
2020, is one of the world’s top 25 economies in terms of GDP.
Investment Climate
Statements provide country-specific information on the business climates of
more than 170 countries and economies.