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Taiwan’s Tsai Denies ‘Rumors’ About Chip Investment Risks | Business and Economy

Taiwan’s Tsai Denies ‘Rumors’ About Chip Investment Risks | Business and Economy

Taiwan’s leader says his government is working hard to continue investment in key industries.

Taiwan President Tsai Ing-wen has dismissed “rumours” about the risks of investing in the island’s key semiconductor industries, saying the government was working hard to pursue such investments.

Taiwan, home to the world’s largest chipmaker TSMC, plays a huge role providing chips that are used throughout from cars and mobile phones to fighter jets. It is also a leading supplier to companies such as Apple Inc.

But the Chinese military’s threat to the island to assert Beijing’s sovereignty claims – especially since US House Speaker Nancy Pelosi visited Taipei in August – has the chip industry rethinking the risks of investing in Taiwan.

Tsai, meeting with ASML Holding Chief Operating Officer Frederic Schneider-Maunoury, praised the European company, a major equipment supplier to chip companies such as TSMC, for its commitment to invest in the island.

“At a time when the world is paying attention and worrying about Taiwan, I am very grateful to ASML for investing with concrete actions in Taiwan,” Tsai said, according to comments released by the presidential office late Tuesday.

“I think this also dispels rumors of excessive speculation about Taiwan’s risk,” he added.

Rick Tsai, chief executive of Taiwan’s biggest chip designer MediaTek Inc, told Reuters news agency this month that US-China tensions were prompting some manufacturers to talk about extending part of their supply chain beyond the island, but added that this was “overkill”. .

ASML dominates the global market for lithography systems that project light to create microscopic circuits on chips. TSMC uses ASML’s EUV machines to manufacture the most advanced chips.

ASML did not immediately respond to a request for comment about the meeting.

Tsai said investing in Taiwan was “definitely a very right direction” and that the government would continue to provide support.

“I look forward to Taiwan continuing to deepen cooperation with democratic allies to build a more secure and resilient global supply chain,” he added.

In a statement from the presidential office, Schneider-Maunoury quoted Tsai as saying the company would continue to increase its investment in Taiwan, noting that it already has five factories and employs more than 4,500 people on the island.

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