June 9, 2021
AIT organizes a successful Taiwan Delegation to the 2021 SelectUSA Investment Summit
153 Taiwan Companies Join Global Business Leaders and U.S. Government Officials
at Business Investment Event
The American Institute in Taiwan is pleased to announce that 220 delegates representing 153 companies from across Taiwan are joining the Department of Commerce SelectUSA Investment Summit June 7-11. This represents the largest single delegation from a foreign market to ever attend the annual Summit, which is now in its eighth year. Due to the ongoing COVID-19 pandemic, the 2021 Investment Summit is being conducted in an all-virtual format.
The Investment Summit, hosted by U.S. Secretary of Commerce Gina Raimondo, is the highest profile event to connect global companies and U.S. economic development organizations (EDOs) to facilitate foreign direct investment in the United States. President Joe Biden will deliver keynote remarks.
In addition to the global Summit, AIT has organized customized virtual meetings with more than 40 partners for the Taiwan delegates. These meetings are with government and industry leaders to explore opportunities in sectors including electric vehicles, semiconductors, the semiconductor supply chain, unmanned aerial vehicles, and personal protective equipment, as well as with venture capital firms that support startup ecosystems. According to AIT Director W. Brent Christensen, “We created a customized program for these strategic sectors in order to deepen our commercial ties with Taiwan, a trusted partner in securing critical global supply chains, which is a top priority of the Biden Administration.”
Minister without Portfolio John Chen-Chung Deng is the Taiwan Head of Delegation. AIT appreciates the strong interest from the Taiwan business community and its partnership with Taiwan in assembling this important trade delegation. The Investment Summit brings business opportunities and resources from across the United States together in a single place.
Foreign investment is an important part of the U.S. economy. Since 2017, investment projects directly tied to the Investment Summit total over $44 billion USD, supporting over 37,000 jobs, expanding exports, and driving innovation through manufacturing, services, and increased research and development. The Investment Summit has helped the United States attract more Foreign Direct Investment (FDI) than any other country in the world, with a total value of $4.46 trillion USD at the end of 2019. These investments support more than 14 million direct and indirect U.S. jobs and were responsible for more than one-quarter of the $382.7 billion of U.S. goods exports.
Taiwan companies currently operating in the United States support 19,100 jobs, invest almost $159 million annually in R&D, and contribute $1.6 billion to U.S. goods exports. The total stock of FDI from Taiwan companies was $47 billion, per the latest data available at the end 2019.
Learn more about the Investment Summit and see the agenda here: www.selectusasummit.us.