US firms in Taiwan have needs they want met, from natural disasters to grid upgrades

Talent shortages and geopolitics have altered outlook in Taiwan, and American companies say business environment’s transformation must catch up

Reading Time:3 minutes

AmCham Taiwan’s annual paper suggests that the island take “a variety of strategic measures” to support energy, highways, telecommunications, power plants and water supplies. Photo: Reuters

Published: 6:30pm, 6 Jun 2024

American business leaders say Taiwan has fallen behind in making changes to cope with natural disasters, talent shortages, energy resilience and the shifting needs of foreign businesses, and they recommended that the island align itself with international standards to attract foreign investments.

Meanwhile, the 1,200-member, 570-company AmCham Taiwan said its committees considered just five of the 95 issues that the chamber raised last year to be fully resolved, according to an annual white paper released on Thursday.

“Now ranked as one of the world’s richest countries in terms of financial assets, Taiwan stands at the threshold of a transformative era,” the American Chamber of Commerce’s annual report said, noting the inauguration of a new leader in May. “Unfortunately, progress in transforming the business environment has not been aligned with a sense of urgency in recent years.”

Taiwan holds a leading position in the global chipmaking industry, especially in advanced semiconductors. But it also remains the sharp focus of geopolitical considerations that have influenced international business decisions and contributed to the shifting of supply chains toward other parts of the world.

05:06

William Lai sworn in as new Taiwan leader amid pledge to keep status quo across the strait

In the report’s “Messages to Washington” section, the chamber also spoke to the importance of high-level US officials conducting visits to the island “more frequently”, as such visits “may be perceived as more provocative” when they are rare. And the chamber sought to “ensure continued sufficient support for Taiwan’s defence”.