TAIPEI (Taiwan News) — In her final appearance as president at the annual Hsieh Nien Fan (謝年飯) on Thursday (March 28) evening, Tsai Ing-wen (蔡英文) said Taiwan was better than ever.

The COVID-19 pandemic and Russian invasion of Ukraine had created reverberations around the world, but “nevertheless Taiwan has emerged from these challenges stronger.”

Speaking in fluent English, she said this would be her “goodbye” address at the Hsieh Nien Fan. She was speaking at the 56th edition of the American Chamber of Commerce in Taiwan (AmCham Taiwan) hosted event. 

It was held at the Marriott Hotel in Taipei’s Zhongshan District. Tsai will stand down as president on May 20 and will be succeeded by Vice President Lai Ching-te (賴清德).

Detailing the nation’s innovative and charitable approach to the pandemic, Tsai said: “Taiwan stepped up and offered support.” Furthermore, “Taiwan would not be a passive bystander” but would continue to “make a difference.”

She added that during the pandemic and over recent years, despite global shocks, its economy and stock exchange had made great progress over the eight years of her presidency. “I don’t know how many of you invested in the stock market,” she remarked “but you have all done rather well.”

Tsai said she was “optimistic” about the progress of double taxation discussions with the U.S. She also listed the number of states that were setting up offices in Taiwan. 

She said this was a “remarkable time for Taiwan-U.S. relations” and described her presidency as a “fruitful eight years.” Looking forward she described president-elect Lai as a source of stability and progress, “freedom and democracy.”

“When I first came here (Hsieh Nien Fan) as president and listened to what the chair had to say, I heard a lot of criticism, but tonight I have heard nothing negative,” Tsai concluded.

She also noted the vital role of AmCham Taiwan in the nation’s bilateral relationship with the U.S. Meanwhile, in his introductory remarks, AmCham Chair Dan Silver called for a comprehensive trade agreement and implementation of the Taiwan Fellowship Act. 

He said Taiwan needed to make the most of its moment in the spotlight, calling the nation a “global role model” for democracy and “one of the best places anywhere to do business.”  

“We hope that Taiwan will continue to innovate and expand its industries,” Silver said. “This is what propels its economy ever forward.” 

Also present at the event was American Institute in Taiwan (AIT) Director Sandra Oudkirk. She underlined the importance of Taiwan and noted that despite its relatively small population “it punched far above its weight.”

“Taiwan is a reliable and trusted place to do business and this is why American companies continue to find that it is a good place to invest,” Oudkirk added. 

Hsieh Nien Fan is a big night for Taiwan’s international business community. Ostensibly a banquet to thank government officials, it welcomed around 750 VIP guests, including AmCham Taiwan members, prominent company executives, plus diplomats, legislators, and government officials. 

Among this year’s heavyweight attendees were Vice President-elect Hsiao Bi-khim (蕭美琴), Secretary General Wellington Koo (顧立雄), and Secretary-General to the President Lin Chia-lung (林佳龍). Also present were the mayors of Taipei and New Taipei, respectively, Chiang Wan-an (蔣萬安) and Hou Yu-ih (侯友宜). 

AmCham’s Silver presented Tsai and Oudkirk with artworks created by AI that reflected their interests and achievements. Tsai’s picture featured a cat, naturally, and her support of human rights was represented by a rainbow. 

The president is usually the keynote speaker at Hsieh Nien Fan and a major political figure from Washington D.C. often attends. It’s a social event for the great and good to jaw-jaw and make their influence felt. 

Typically, AmCham Taiwan members and companies sponsor tables to attend the event. It costs at least NT$65,000 (US$2,030) per table, or NT$6,600 per member, though far higher figures are paid to secure prominent sponsorship or a table near the president.

AmCham Chair Silver joked that tickets this year sold out “quicker than a Taylor Swift concert.”