Taiwan to invest 10 million euros in chip production in Lithuania


By Reuters IST (Released)

Taiwan, the world’s largest semiconductor supplier, will invest more than 10 million euros ($9.98 million) in chip production in Lithuania, the head of Taiwan’s representative office in Vilnius said on Monday.

Taiwan, the world’s largest semiconductor supplier, will invest more than 10 million euros ($9.98 million) in chip production in Lithuania, the head of Taiwan’s representative office in Vilnius said on Monday.

Taiwan’s Institute of Industrial Technology and Research will cooperate with Lithuanian electronics maker Teltonika to build semiconductor technology capabilities in the Baltic country, said Eric Huang, head of the representative office.

More than two dozen Taiwanese scholarships for Lithuanians will be offered for technical training, he added.

“It’s not a transaction (in exchange for Lithuania allowing the office to open),” Huang said. “It’s because Taiwan would like to work with Lithuania together to build the resilience of our democratic supply chain in the face of coercion from autocracies.”

Lithuania allowed Taiwan to open a de facto embassy in its country in November last year, angering China, which considers the democratically-ruled island its own territory.

Beijing subsequently downgraded diplomatic ties with Lithuania, curtailed trade and pressured multinational companies to sever ties with the nation of 2.8 million people.

The European Union has issued a challenge to the World Trade Organization on trade restrictions, backed by the United States, United Kingdom, Australia, Canada and Taiwan.

Earlier this year, Taiwan launched a €200 million equity investment fund and €1 billion loan facility for Lithuania and other Central and Eastern European countries.

The first equity investments totaling 10 million euros in Lithuania would be completed early next year, Huang said, adding that the first loans amounting to 9 million euros should be granted. by the end of this month.

Taiwan has also granted import permits for Lithuanian dairy, fish and eggs and may allow imports of its beef by the end of the year.

Lithuania officially launched its own representation in Taiwan on Monday.


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