【Japan Himalaya League】 Author: Zichen  Translator: Qingshanyijiu

According to the Voice of America on January 12, Lithuania has been economically suppressed by the Chinese Communist Party (CCP) after it allowed Taipei to set up a representative office in the name of Taiwan despite the opposition of the CCP. In order to show its support for Lithuania, Taiwan set up another US $1 billion financing fund for economic and trade cooperation between enterprises on both sides.

In a video conference held on January 11, Taiwan’s National Development Council (NDC) Director Mingxin Gong and Lithuanian Minister of Economy and Innovation Aušrinė Armonaitė said that the NDC would provide an additional US $1 billion financing fund to Taiwan or Lithuanian companies, on top of the US $200 million “Central and Eastern European Investment Fund.”

At a subsequent press conference, Mingxin Gong said that Taiwanese manufacturers willing to invest in Lithuania or have joint ventures with Lithuania, as well as Lithuanian manufacturers that have cooperative relations with Taiwan, can apply for these funds.

Image from VOA

He said that the purpose of setting up investment funds and financing funds is to promote the joint development of Taiwan and Lithuanian industries, and the funds are not only to help Lithuania, which is suppressed by the CCP, but also part of Taiwan’s efforts to strengthen relations with European countries.

Armonaitė said at the press conference that Lithuania could be a very good place for investment in the semiconductor industry. The new credit program between Taiwan and Lithuania is expected to promote the continued development of emerging industries such as computer chips, laser manufacturing and biotechnology, which are under pressure from the CCP.

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Edited & Posted by: Ranting