Taiwan minister seeking partners from biotech and medicine field in US

CEPD steps up investment efforts with big delegation to U.S.

2011/05/11 Taipei, May 11 (CNA) A delegation of more than 100 business representatives will leave Sunday for the United States to seek business opportunities with companies like Google Inc. and Facebook, the Council for Economic Planning and Development (CEPD) said Wednesday. The delegation, the CEPD's biggest since it began sending business groups overseas last year, will hold three roadshows in New York, San Francisco and Los Angeles, respectively, from May 16-20. Taiwan's gaming sector, which is sending 20 delegates, will be most heavily represented. The delegation will visit 40 U.S. corporates in five different sectors -- biotechnology and medicine, green power and electric vehicles, high-tech, creative and digital content, and land development and hotels. CEPD Minister Christina Liu said at a press briefing that some companies in the land development and hotel sector have expressed high interest in tourism-related investment in Taiwan. Since November 2010, the CEPD has sent groups of 30 business people to Hong Kong, 85 to Singapore, and 95 to India.Last year, more than 90 companies said they were considering investment in the Greater China area in sectors like machinery, electronic parts and medical products. said Victor Kuan, chairman of Citibank Taiwan, which coordinated the roadshows.Their aim was to reduce production costs and make the Asia-Pacific region the major potential market, he said. In 2010, the U.S. was Taiwan's No. 3 trading partner in terms of both imports and exports. Meanwhile, Taiwan ranked ninth and 13, respectively, in the U.S. in terms of imports and exports.