Governor Abbott Engages with Taiwan President Lai in Taipei

On the first full day of his economic development tour through Taiwan, South Korea, and Japan, Governor Greg Abbott had a significant meeting with Taiwan’s President Lai Ching-te in Taipei.

“It was a privilege to meet with President Lai Ching-te today and discuss the deepening of economic and cultural ties between Texas and Taiwan,” stated Governor Abbott. “Both regions have seen extraordinary economic advancements in recent decades, becoming vital players in our respective regions and pioneering future innovations by fostering economic freedom and opportunities for our citizens. I congratulate President Lai on his recent inauguration and eagerly anticipate collaborating to strengthen our partnership, shaping a prosperous future for both Texas and Taiwan.”

During their discussion, Governor Abbott and President Lai examined potential collaborations to enhance trade and investment in pivotal sectors like semiconductors, energy, and electric vehicle manufacturing. Governor Abbott emphasized the myriad economic opportunities Texas offers to international companies, highlighting the state’s skilled workforce, low taxes, and exceptional business environment.

After the meeting with President Lai, Governor Abbott, and Taiwan’s Minister of Economic Affairs Jyh-Huei Kuo signed an Economic Development Statement of Intent (EDSI). This agreement acknowledges the robust economic ties between Texas and Taiwan and aims to boost investment, trade, and cooperation in key industries to drive future innovation.

The EDSI signing was followed by the announcement of the State of Texas Taiwan Office, which will operate within the Governor’s Office under the Texas Economic Development & Tourism Office. This new office will promote closer cooperation and mutually beneficial economic growth and cultural exchanges. Following this historic announcement, Governor Abbott attended a luncheon hosted by Taiwan’s Minister of Foreign Affairs Lin Chia-Lung, where he engaged with business leaders from across Taiwan.

Governor Abbott also met with Doris Hsu, Chairman & CEO of GlobalWafers and Sino-American Silicon Products, to express gratitude for the company’s ongoing investments in Texas. GlobiTech, a leader in the semiconductor industry, is establishing a $5 billion advanced silicon wafer manufacturing facility in Sherman, Texas—the first new silicon wafer facility in the U.S. in over 20 years. Texas has led the nation in semiconductor exports for 13 years. During their meeting, Governor Abbott and Ms. Hsu discussed ways Texas and Taiwan can collaborate to boost semiconductor production globally.

Governor Abbott was accompanied at these events by First Lady Cecilia Abbott, Secretary of State Jane Nelson, Representative Angie Chen Button, Executive Director of the Governor’s Economic Development & Tourism Office Adriana Cruz, Board Secretary of the Texas Economic Development Corporation Adrian Cannady, President & CEO of the Texas Economic Development Corporation Aaron Demerson, and other Texas delegates.

The agenda for the second day of the economic development mission in Seoul, South Korea, includes:

• Meeting with Minister of Foreign Affairs Cho Tae-yul
• Luncheon with the Korea International Trade Association
• Reception at the U.S. Embassy in the Republic of Korea

In 2022, Taiwan led all nations in foreign direct investment in Texas with over $5 billion. From 2013 through 2023, Taiwanese companies invested $5.29 billion in eight projects, creating over 2,200 jobs in Texas. In the first five months of 2024 alone, Taiwanese companies have invested $103 million in two projects expected to generate more than 220 new jobs. In 2023, Texas-Taiwan trade totaled $21.3 billion, making Taiwan Texas’s seventh-largest trade partner.

This trip is sponsored by the Texas Economic Development Corporation, a 501(c)(3) nonprofit organization responsible for promoting Texas as a prime business location. Along with the Governor’s Economic Development & Tourism Office, these organizations form the foundation of Governor Abbott’s strategy to expand Texas’s economic reach.