Taiwan plans trade and investment center in Japan

Taipei, Feb. 11 (CNA) The Ministry of Economic Affairs (MOEA) is planning to set up a trade and investment center in Fukuoka in the northern Kyushu region of Japan to help Taiwanese firms expand their reach in the country.

In a statement, the MOEA's International Trade Administration said on Tuesday that Economics Minister Kuo Jyh-huei (郭智輝) met with a delegation from Kyushu, which included representatives from the Kyushu Economic Federation (KEF), to discuss economic cooperation between Taiwan and Japan.

According to the statement, Kuo said as Taiwan and Japan's economies were complementary to each other, both sides are expected to work together to strengthen economic development.

More specifically, Kuo said Taiwan is at the core of the supply chain of the global semiconductor industry, boasting a comprehensive production network be it upstream or downstream, and with Kyushu serving as a semiconductor base in Japan, both sides can cooperate.

The economics minister said the plan to open the Fukuoka trade and investment center aims to allow Taiwanese firms to set up their presence in Japan, while the center is expected to consolidate the MOEA's resources to help integrate Taiwan and Japan's semiconductor development.

By taking advantage of the semiconductor development of both sides, Kuo said, Taiwan and Japan are expected to extend their cooperation to artificial intelligence, robotics and drones.

In response, Sumio Kuratomi, head of the KEF, said Kyushu approved a Silicon Island Kyushu plan last year in which the region will use semiconductors as its core development strategy to reinforce infrastructure, cultivate a talent pool, and push for industrial innovation.

He said with contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) investing in Japan to build two advanced wafer fabs in Kumamoto, the investments have turned a new page for the Japanese semiconductor industry and paved the way for cooperation between Taiwan and Japan.

According to the MOEA, the ministry and the KEF delegation not only discussed semiconductors but also covered AI and electric vehicle development.

The two sides also agreed to provide necessary assistance to small and medium enterprises to enter the international market.

TSMC's first plant in Kumamoto officially opened on Feb. 24, 2024, through the joint venture Japan Advanced Semiconductor Manufacturing, Inc. (JASM). The joint venture is owned by TSMC, Sony Semiconductor Solutions Corp., Denso Corp., and Toyota Motor Corp.