North Carolina Opens Investment Office in Taiwan

Why It Matters:

The opening of the investment office in Taiwan highlights North Carolina's commitment to fostering global partnerships and promoting economic growth. It strengthens the existing trade and commerce relationship between Taiwan and North Carolina.

The Details:

• The new investment office is the ninth operated by the Economic Development Partnership of North Carolina worldwide.

• It aims to secure investment partnerships from Southeast Asian companies and organizations, particularly in Taiwan and China.

• The office is located in Taipei, Taiwan's capital, and officially opened on October 5.

• The office's costs are handled by the Economic Development Partnership of North Carolina.

• Taiwanese companies have been increasing their foreign direct investment in the U.S., particularly in the microelectronics and clean energy sectors.

• North Carolina Secretary of Commerce Machelle Baker Sanders emphasizes the state's commitment to building bridges and enhancing trade, innovation, and partnerships.

• Existing trade and commerce relationships between Taiwan and North Carolina have resulted in over $52 million in investments and 846 jobs since 2013.

• In 2022, North Carolina exports to Taiwan reached $372.6 million, while imports were $1.68 billion.

Conclusion:

The establishment of the investment office in Taiwan signifies North Carolina's dedication to expanding its global presence and attracting investment from Southeast Asian companies. It solidifies the existing trade and commerce relationship between Taiwan and North Carolina, opening doors for further economic growth and collaboration.