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CNA: Taiwan Will Add One Billion Dollars to its Fund for Business with Lithuania

The Primary Taiwanese news agency, the Central News Agency (CNA) recently reported that, in order to strengthen its relationship with Lithuania, the National Development Council will not only set up a US$200 million investment fund for Central and Eastern Europe; it will do more. The Council just announced that it will provide a financing fund of US$1 billion to promote bilateral business cooperation between Taiwan and Lithuania through the two funds. The Council explained that the National Development Fund will supply the US$200 million Central and Eastern European Investment Fund. The Central Bank will provide the US$1 billion in financing to fund to the Export-Import Bank of China.  If the above-mentioned funds are not enough, the government can add more funding. In October last year, when the Taiwan economic and trade delegation visited Lithuania, Taiwanese companies and Lithuanian manufacturers held 240 talks leading to follow-up cooperation and development projects. When President Tsai Ing-wen spoke on New Year’s Day, she mentioned the launch of the “Strengthening European Links Program.” Taiwan will start with Lithuania, and will try its best to promote industrial cooperation and trade links that benefit both sides. As for when the two major funds can be launched, the Council revealed that budgets have been prepared and the administrative procedures will be completed soon. However, it is necessary to see whether there are administrative procedures to be carried out in Lithuania. “The idea is as soon as possible.” At present, many Lithuanian companies have expressed interest in areas such as the laser industry, the semiconductor industry, chip manufacturing and a number of others.

Source: CNA, January 11, 2022