TAIPEI (Taiwan News) — For the second consecutive year, Taiwan sent the largest delegation to the SelectUSA Investment Summit, with 138 Taiwanese companies participating. 

The event, which kicked off in Maryland on Sunday, was organized by the US Department of Commerce and welcomed a Taiwanese delegation led by Cabinet Secretary-General Kung Ming-hsin (龔明鑫). Economics Minister Kuo Jyh-huei (郭智輝) also attended the summit, with the delegation aiming to find ways to narrow the Taiwan-US trade gap, per PTS News.

Amid ongoing tariff negotiations, the summit has become a key platform for countries to demonstrate their commitment to investing in the US. Kung said Taiwan is reviewing its target investment amounts in the US to facilitate tariff talks.

Kung said that in the past two years, trade and investment between Taiwan and the US have grown rapidly. “I call on both the Taiwanese and US governments to work together to turn potential opportunities for cooperation into concrete outcomes,” said Kung. 

At a welcome reception hosted by the Taiwanese delegation, International Trade Administration Chief of Staff Trevor Kellogg and American Institute in Taiwan Director Raymond Greene delivered remarks. Greene said that 10 years ago, 80% of Taiwan's overseas investment went to China, but last year, the US became the largest recipient, per CNA. 

Greene said the US Department of Commerce awarded the AIT's SelectUSA Investment Summit team an award for facilitating the single largest foreign investment in the US. He said Taiwanese companies were a key force in driving China's industrialization 30 years ago and, now, the US expects Taiwanese firms can play an equally important role in revitalizing American manufacturing. 

Kuo said his ministry will establish an investment and trade center in the US to provide information to Taiwanese businesses interested in investing there and to promote industrial and technological collaboration. In addition, he said the MOEA will work with state governments to set up technology parks offering optimized production environments to attract Taiwanese firms.

The Taiwanese delegation represented industries including semiconductors, artificial intelligence, chemicals, biotechnology, aerospace, and finance. Meanwhile, AIT promoted industries such as quantum technology and drones to facilitate cooperation between Taiwanese companies and their US counterparts.

Following the four-day summit, Kuo will travel to Texas to attend the opening ceremony of a new plant built by Taiwanese semiconductor company GlobalWafers.