Taiwan sends largest delegation again to U.S. investment summit

Washington, May 3 (CNA) Taiwan has once again sent the largest foreign delegation to this year's SelectUSA Investment Summit, with 113 Taiwanese companies and a record 207 representatives attending the annual U.S. investment event, Taiwan's top economic official said Sunday.

The 2026 summit, organized by the United States Department of Commerce, opened Sunday in Maryland and runs through Wednesday.

Speaking at a reception hosted by Taiwan's representative office in Washington, Minister of Economic Affairs Kung Ming-hsin (龔明鑫) said Taiwan once again ranked first among foreign delegations, as it has done over the past four years.

U.S. Under Secretary of Commerce for International Trade William Kimmitt, who also attended the reception, praised Taiwan's strategic role in global industry.

Kimmitt said a Taiwan-U.S. investment cooperation memorandum signed in January was not simply a trade agreement, but one that reshaped bilateral strategic and economic ties based on trust and shared strengths.

"Taiwan knows how to build," Kimmitt said.

Taiwan has built "a reputation for execution -- not simply announcing plans, but delivering results. That is why this agreement is so important," he said.

Under the pact, Taiwan will facilitate US$250 billion in private-sector investment in sectors such as semiconductors and AI, while also providing up to US$250 billion in government-backed credit support.

Ahead of the summit, Kung led a delegation to Arizona, where Taiwanese officials agreed with state and Phoenix authorities to establish a trade and investment service center and a single-window mechanism to assist Taiwanese investors.

Kung also visited Taiwan Semiconductor Manufacturing Co.'s Arizona facilities and said construction was progressing rapidly, with parts of the supply chain already taking shape.

Commenting on a recent U.S. Supreme Court ruling limiting President Donald Trump's tariff authority, Kung said Taiwan remains in close contact with U.S. trade officials and both sides hope to preserve already negotiated outcomes.

Kung also said avoiding double taxation remains a key issue for Taiwanese firms investing in the United States, adding that he will meet with U.S. officials and senators to push for Senate consideration of a U.S.-Taiwan double-tax relief bill already passed by the House.

Meanwhile, National Development Council Minister Yeh Chun-hsien (葉俊顯) said Taiwan's National Development Fund will launch a financing guarantee program for Taiwanese firms investing in the U.S. later this month, with an initial credit allocation of US$50 billion.