Taiwan’s leader says his government is working hard to ensure investment in big business continues.
Taiwan’s President Tsai Ing-wen has slammed “rumors” of threats to the island’s big business, saying the government is working hard to deal with it.
Taiwan, home to the world’s largest chipmaker, TSMC, plays a major role in the supply of chips used in everything from cars and phones to fighter jets. It is a leading developer for companies like Apple Inc.
But China’s military is threatening the island to denounce Beijing’s rule – especially after US House Speaker Nancy Pelosi visited Taipei in August – prompting chip companies to reconsider the risks of investing in Taiwan.
Tsai, who met ASML Holding’s Chief Operations Officer, Frederic Schneider-Maunoury, praised the European company, which supplies key components to chip companies such as TSMC, for its commitment to investing in the island.
“At this time when the world is watching and concerned about Taiwan, I am very grateful to ASML for investing in Taiwan and doing real things,” said Tsai, according to comments published by the president’s office late Tuesday.
“I hope this also disproves the rumors about Taiwan’s horror stories,” he added.
Rick Tsai, chief executive of Taiwan’s largest hardware maker MediaTek Inc, told Reuters this month that the US-China tensions are forcing some manufacturers to talk about expanding their product range beyond the island, but added that “it’s too much”.
ASML oversees the global market for lithography machines, which illuminate to create microscopic circuitry on chips. TSMC uses ASML’s EUV process to produce high-quality chips.
ASML did not immediately respond to a request for comment on the meeting.
Tsai said that investing in Taiwan is “the most correct way” and the government will continue to provide support.
“I also hope that Taiwan will continue to expand cooperation with democratic institutions to create a safe and stable international system,” he added.
A statement from the president’s office quoted Schneider-Maunoury as telling Tsai that the company will continue to increase its investment in Taiwan, saying it already has five factories and employs more than 4,500 people on the island.