TNC Business Strategy Research
Taiwan 2020 Taiwan seeking cooperation with US and propose lucrative supply chain
Taiwan seeking cooperation with US and propose lucrative supply chain
Taiwan is seeking to expand the scope of cooperation with the United States. It might provide up to 1 million jobs and create tens of millions of dollars in value for the world's largest economy.
In the cabinet briefing on October 22, 2020, in order to build up a closer relationship in the reorganization of global supply chain, the Ministry of Economic Affairs (MOEA) proposed the strategic areas such as AI technology, semiconductors and health care. This initiative will help boost the United States and allow Taiwan to gain a stronger position in the global supply chain.
The premier, Su Tseng-chang, mentioned that the leading chip manufacturer Taiwan Semiconductor Manufacturing Company (TSMC) plans to establish a wafer fab in the United States, which is a good example of bilateral cooperation. He also proposed to establish a global marketing network that includes American brands and technologies and the concept of "Made in Taiwan".
Joint projects that have been implemented include 5G open network research with Cisco and Google, and Amazon's investment in Taiwan's R&D center.