TAIPEI (Taiwan News) — Minister of Economic Affairs Kung Ming-hsin (龔明鑫) led a delegation to the SelectUSA Investment Summit near Washington, DC, on Sunday, with Taiwan once again the largest delegation to the annual event.
Kung said a record 113 Taiwanese companies and 207 representatives are participating this year, marking the first time the delegation has exceeded 200 attendees, underscoring strong interest in investing in the US, per CNA.
Hosted by the US Department of Commerce, the summit is a major annual event aimed at attracting foreign direct investment and connecting international firms with opportunities in the US market. The event brings together senior US officials, state and local economic agencies, and global business leaders to discuss investment trends and opportunities.
The Taiwanese delegation also attended a welcome reception by the Taipei Economic and Cultural Office, hosted by Taiwan’s representative to the US, Alexander Yui Tah-ray (俞大㵢). Attendees included Kung, National Development Council Minister Yeh Chun-hsien (葉俊顯), US Under Secretary of Commerce for International Trade William Kimmitt, and American Institute in Taiwan Director Raymond Greene.
Kimmitt said a memorandum of understanding on investment cooperation signed in January between Taiwan and the US represents more than a trade agreement, describing it as a reshaping of bilateral strategic and economic ties based on trust and shared strengths.
“Taiwan knows how to build,” Kimmitt said, citing the country’s advanced semiconductor ecosystem and reliable supply chain. He added that Taiwan’s reputation is built on execution and the delivery of tangible results.
Under the agreement, Kimmitt said Taiwan has committed to two types of investment in the US. Taiwanese companies will invest NT$7.9 trillion (US$250 billion) across sectors such as semiconductors, electronics manufacturing services, AI applications, and energy. In addition, Taiwanese financial institutions will provide up to US$250 billion in credit lines backed by government guarantees, per CNA.
Speaking to the media before the reception, Kung said the government will also establish mechanisms to support Taiwanese businesses investing in the US. A day earlier, he led a delegation to Phoenix, where agreements were reached with state and city officials to set up a trade and investment service center to assist companies entering the local market.
Kung said the Taiwan Electrical and Electronic Manufacturers' Association aims to use the visit to explore Arizona and identify locations for potential industrial clusters. During the delegation’s stay in Phoenix, members also visited TSMC’s Arizona facility, where construction is progressing, and supply chains are beginning to take shape.
Yeh said the National Development Council will offer financial guarantees to support Taiwanese firms investing in the US. Applications are expected to open by the end of May, with an initial phase of approximately US$50 billion provided in collaboration with Taiwanese financial institutions. Additional phases will be launched if demand exceeds 80% of the allocated funds.
Asked about the impact of a recent US Supreme Court ruling that President Donald Trump lacked authority to impose global tariffs under the International Emergency Economic Powers Act, Kung said Taiwan maintains close communication with the US government, including the Department of Commerce and the Office of the US Trade Representative, per CNA.
“There is a consensus that the agreed-upon outcomes should be maintained,” he said.
Kung added that his trip primarily focuses on investment issues, including plans to meet with US government agencies to establish mechanisms that support Taiwanese small and medium-sized enterprises and large corporations investing in US supply chains.
He also emphasized the importance of avoiding double taxation for Taiwanese businesses operating in the US. The US-Taiwan Fast-Track Double Tax Relief Act has passed the US House of Representatives and is awaiting Senate approval. Kung said he plans to meet with officials from the US Department of the Treasury and US senators to push for swift ratification of the bill.
