President Lai attends AmCham Taiwan 2025 Hsieh Nien Fan
On the evening of March 20, President Lai Ching-te attended the annual Hsieh Nien Fan (謝年飯) banquet hosted by the American Chamber of Commerce in Taiwan (AmCham Taiwan). In remarks, President Lai pointed out that the United States is now a major source of investment in Taiwan, adding that last year US investment accounted for 11.5 percent of total foreign investment in Taiwan. The president also pointed out that the US has become Taiwan’s largest investment destination, as Taiwan’s direct and indirect investment in the US accounted for more than 40 percent of its total outbound investment last year.
President Lai expressed hope that AmCham will continue to offer support in quickly resolving the issue of double taxation, further enhancing the mutually beneficial Taiwan-US economic and trade partnership. He also emphasized that one essential element for our economic prosperity is maintaining security and stability, both regionally and globally. The president expressed his belief that, so long as we coordinate our efforts, we can achieve more in our respective defense industries and build non-red supply chains, advancing peace, stability, and prosperity.
A transcript of President Lai’s remarks follows:
I’m delighted to be here tonight. I want to wish everyone and their families a happy, healthy, and prosperous year ahead.
For many years now, AmCham has acted as a bridge between Taiwan and the US. It not only advocates for Taiwan to various sectors in the US, but also offers advice for the development of Taiwan’s industries. So tonight, I would like to express my deepest gratitude to all our friends from the American business community.
The 2025 Business Climate Survey, published by AmCham this January, demonstrates the confidence foreign businesses have in the Taiwan market.
We are happy to see that over 80 percent of survey respondents reported stable or increased revenue last year, and around 80 percent expressed confidence in Taiwan’s economic prospects for the coming year. Moreover, 90 percent of businesses surveyed are planning to maintain or expand their investments in Taiwan.
The positive developments in Taiwan made by our American friends here tonight, their outlook for the future, and their confidence in Taiwan, are further proof of Taiwan’s ideal environment for investment.
The US is now a major source of investment in Taiwan. Last year, US investment accounted for 11.5 percent of total foreign investment in Taiwan.
In 2023, Entegris opened a new manufacturing facility in Kaohsiung and Micron launched a new facility in Taichung. Last year, Google further solidified Taiwan as its biggest R&D hub outside of the US by opening a new office here. AMD, Nvidia, and major cloud computing companies from the US have also been choosing Taiwan to expand their presence.
Over the past several years, the US has also become Taiwan’s largest investment destination. Taiwan’s direct and indirect investment in the US accounted for more than 40 percent of our total outbound investment last year.
Four years ago, TSMC’s [Taiwan Semiconductor Manufacturing Company] investment in facilities in Arizona became the biggest FDI [foreign direct investment] in a greenfield project in US history. And this month, TSMC announced it would expand that investment, breaking another record and highlighting the enduring prosperity shared by Taiwan and the US.
In addition to TSMC, Taiwan’s GlobalWafers has built a 12-inch silicon wafer factory in Texas, the biggest in the US. This will be followed by many other industries. These companies are confidently expanding their global presence across the Pacific and eastward into the Americas.
The US is moving to reindustrialize its manufacturing industry and consolidate high-tech leadership, as it moves to become a global AI hub. In these efforts, Taiwan is an indispensable partner for the US. While the US is a leader in chip design, Taiwan’s semiconductor manufacturing plays an irreplaceable part in the supply chain.
Adapting to the changing geopolitical landscape and the coming era of smart technology, Taiwan will continue to promote its Five Trusted Industry Sectors of semiconductors, AI, military, next-gen communications, and security and surveillance. This will drive the next stage in our economic development. A great time to invest in Taiwan is now.
We will continue to better connect relevant government agencies and align with international standards to foster a friendlier investment environment. And I am confident that Taiwanese and American companies can leverage their respective high-tech expertise and invest in each other, boosting growth in industrial innovation and development for both our economies.
At the same time, we hope to continue deepening Taiwan-US trade relations. Last year, Taiwan was the seventh largest trading partner of the US, up one spot from the previous year, and bilateral trade grew by 24.2 percent.
Taiwan is going to expand procurement from the US of industrial and agricultural products, as well as natural gas. I am very happy to welcome Governor [Mike] Dunleavy of Alaska, who has specially come all the way to Taiwan. Alaska is a source of high-quality natural gas, and its relatively short distance from Taiwan facilitates transportation. So we are very interested in buying Alaskan natural gas because it can meet our needs and ensure our energy security.
We hope that AmCham will continue to offer support in quickly resolving the issue of double taxation and removing tax barriers to bilateral investment and trade, further enhancing the mutually beneficial Taiwan-US economic and trade partnership.
One essential element for our economic prosperity is maintaining security and stability, both regionally and globally. So we are grateful for the joint leaders’ statement issued by [US] President [Donald] Trump and Japan’s Prime Minister Ishiba Shigeru, in which they expressed their solid support for maintaining peace and stability across the Taiwan Strait.
As we face growing authoritarianism, Taiwan will continue to uphold our values of freedom and democracy and will be a responsible actor in regional and global security.
Currently, Taiwan’s defense budget stands at about 2.5 percent of GDP. Going forward, the government will prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP. At the same time, we will continue to reform national defense, further enhancing Taiwan’s self-defense capabilities. And we will advance our cooperation with the US and other democracies in upholding regional stability and prosperity.
We also welcome continued Taiwan-US cooperation in the defense sector. I believe that, so long as we coordinate our efforts, we can achieve more in our respective defense industries and build non-red supply chains, advancing peace, stability, and prosperity.
In closing, I look forward to seeing even greater achievements from Taiwan-US economic and trade cooperation. Thank you.
After remarks, President Lai, AmCham Chairperson Dan Silver, American Institute in Taiwan Taipei Office Director Raymond Greene, and Governor Dunleavy raised their glasses in recognition of the strong Taiwan-US friendship.