With companies increasingly moving production closer to their markets, Central and Eastern Europe (CEE) is rapidly emerging as a new manufacturing hub, often compared to the role China once played in global supply chains. This shift is bringing new opportunities to CEE countries like Lithuania and Czechia, as Taiwan seeks to deepen economic ties with the region, particularly in key sectors like semiconductors, laser technology, and financial technology.
Taiwan's commitment to strengthening economic cooperation with CEE was underscored by the recent visit of Liu Chin-ching, Taiwan’s National Development Council Minister, to Lithuania from August 26-27, 2024. The visit highlighted the growing partnership between Taiwan and Lithuania, part of a broader strategy to bolster ties with Europe. In 2022, Taiwan launched a €20 million investment fund for Central and Eastern Europe, managed by Taiwania Capital, which has already supported three Lithuanian startups: Litilit (laser technology), Oxipit (biomedicine), and TransferGo (fintech).
During his visit, Liu met with key industry leaders, including Nikolajus Gavrilinas, CEO of Litilit. Liu emphasized how Lithuania’s advanced laser technology could support Taiwan’s semiconductor and biomedicine sectors, encouraging further collaboration between Taiwanese businesses and Lithuanian innovation.
Liu also visited TransferGo, where CEO Daumantas Dvilinskas showcased Lithuania’s strengths in financial technology. Liu noted that TransferGo's business model could be applied to the Taiwan market, further deepening bilateral ties in the fintech sector.
Another important stop was Teltonika, a leader in electronics manufacturing services, where Liu met with Ernestas Zdaniauskis, Vice President of Innovation and Business Development. The discussions focused on cooperation in semiconductors, with Lithuania showing strong potential to contribute to Taiwan's expanding semiconductor ecosystem.
In addition to these industrial visits, Liu met with key Lithuanian political figures, including Žygimantas Pavilionis, Deputy Speaker of the Seimas, and Matas Maldeikis, Chair of the Lithuania-Taiwan Parliamentary Friendship Group. Liu expressed Taiwan’s readiness to support Lithuania in building its semiconductor industry, reflecting a strategic interest in fostering technological and industrial collaboration.
After concluding the Lithuania visit, Liu’s delegation continued to the Czech Republic, where they joined another Taiwanese delegation led by Executive Yuan Secretary-General Kung Ming-hsin and National Science and Technology Council Minister Wu Cheng-wen. The delegation participated in a five-day mission focused on expanding Taiwan-Czechia cooperation in semiconductors and other critical industries. Key meetings with senior Czech officials and the Czech Parliament further demonstrated Taiwan's growing interest in the Czech market.
CzechInvest, the Czech Investment Agency, hosted a briefing on the country’s commercial environment and investment incentives, aiming to attract more Taiwanese investment. The delegation also visited industrial regions like Usti and Brno to explore new avenues for cooperation between Taiwan and Czechia.
Taiwan’s National Development Council anticipates that these efforts will strengthen the democratic partnership between Taiwan and CEE countries, while also expanding Taiwan's global semiconductor supply chain. With investment opportunities and industry collaboration on the rise, these developments are set to provide a significant boost to the semiconductor industry in Europe, positioning Central and Eastern Europe as a key player in global tech manufacturing.
