Strategic MoU Signed to Strengthen Telangana-Taiwan Economic Ties
Latley, in Taipei, the Taiwan Chamber of Commerce (TCC) signed a memorandum of understanding (MoU) with the Department of Information Technology, Electronics and Communications (IT, E&C), Government of Telangana, to strengthen trade and economic relationships.
The MoU was signed by Dr Vishnu Vardhan Reddy, Special Secretary (Investment Promotion and External Engagement), Government of Telangana, and Simon Lee, Vice President, Taiwan Chamber of Commerce in India (TCCI). The signing ceremony was witnessed by Manharsinh Yadav, Director General, India-Taipei Association (ITA).
The aim of this partnership is to attract substantial foreign direct investment (FDI) from Taiwan, promoting investment, infrastructure development, and job creation in the state. It will also involve sharing market entry research, coordinating investor meetings, and providing policy recommendations to increase industrial development in Telangana.
The MoU targets five key sectors for Taiwanese investment: biotechnology, electronics, artificial intelligence, green energy, and creative culture. It also includes plans for collaboration on the development of the India Taiwan Industrial Park (ITIP) in Hyderabad.
To facilitate cooperation, TCCI will establish an office in Hyderabad. This office will serve as a vital link to promote investment opportunities, support information exchange, and assist Taiwanese companies in navigating the Indian market.