EU Seeks Greater Taiwanese Investment Amid Global Chip Shortage: Report

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  • The report added that German Economy Minister Peter Altmaier wrote to Taiwan’s government this year asking for help to ease tight chip supplies, and Europe is also encouraging more chip production at home.
  • Filip Grzegorzewski, the EU’s de facto ambassador in Taiwan, told reporters they will organize another investment forum later this year to sell the bloc as an investment destination

As per a report by Reuters, the European Union is seeking to encourage greater investment from Taiwan especially its semiconductor firms, the bloc’s top diplomat in Taipei said in the midst a global chip shortage that has impacted automakers like Volkswagen. The report added that German Economy Minister Peter Altmaier wrote to Taiwan’s government this year asking for help to ease tight chip supplies, and Europe is also encouraging more chip production at home.

Filip Grzegorzewski, the EU’s de facto ambassador in Taiwan, told reporters they will organize another investment forum later this year to sell the bloc as an investment destination. He said that they want to organise another round of the European investment forum in the autumn, with the focus on global supply chains, the focus on digital and the focus on semiconductors.

Taiwan’s role in the global supply chains

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The report added that Taiwan is a key part of global supply chains and a major trading partner of the EU, Grzegorzewski said. He added that the company said that they need to now make sure that Taiwan uses its assets well … Taiwan has more than TSMC to offer. There are other excellent semiconductor companies in Taiwan, he said.

As per the report he added that there needs to be “more of Taiwan in Europe” and for the island’s business community to think of the opportunities the EU brings, which will also be good for Taiwan. It will strengthen Taiwan’s role globally and that will also strengthen Taiwan’s role in the global supply chains that are now evolving, changing due to the COVID-19 pandemic.

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