Taiwan considering measures to support Czech, Taiwan startups

08/31/2020 08:20 PM
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Minister of Taiwan
Minister of Taiwan's National Development Council Kung Ming-hsin / CNA photo Aug. 31, 2020

Taipei, Aug. 31 (CNA) A Taiwanese government official on Monday raised the idea of jointly raising funds with the Czech Republic to support business enterprises of both countries, especially those in the startup sector.

Kung Ming-hsin (龔明鑫), minister of Taiwan's National Development Council (NDC), shared that thought during a press conference when asked by reporters whether his office has a role to play to support the startup sectors in Taiwan and the Czech Republic.

"Maybe we can ponder jointly raising funds with the Czech Republic to invest exclusively in enterprises of both countries," Kung said, adding that Taiwan already engages in similar cooperation with other countries.

He stressed that one of the primary functions of the NDC is to invest in overseas enterprises that have dealings with Taiwan.

Kung also revealed that a Taiwanese business delegation will be formed to visit the Czech Republic once the COVID-19 pandemic subsides to enhance economic relations between the two countries.

The press conference was held after Czech Senate President Miloš Vystrčil witnessed the signing of three memoranda of understanding involving smart industry cooperation during an economic forum earlier in the day.

Vystrčil is currently in Taiwan for a six-day visit with a delegation of 88 members.

Among the members are 43 from the business sector who attended a business-matching event with Taiwanese companies interested in investing in the Czech Republic.

Meanwhile, the NDC said in a separate press release that the Taiwan Cooperative Bank -- a publicly listed bank -- and the Export-Import Bank of the Republic of China, a state-owned financial institution in Taiwan, are considering setting up operations in the Czech Republic to take advantage of the growing economic interaction between both countries.

In addition, China Airlines, one of Taiwan's major airlines, which has entered a code-sharing scheme with Czech Airlines, is assessing the feasibility of opening a direct route between Taipei and Prague, the NDC said.

(By Pan Tzu-yu and Emerson Lim)

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