Taiwan’s New President and Vice President Take Office
May 20, 2024

The US-Taiwan Business Council congratulates and celebrates the inauguration of Taiwan’s President Lai Ching-te and his Vice President Hsiao Bi-khim today, Monday, May 20, 2024. Democracy continues to function at a high level on the island with another peaceful transition of power, illustrating its centrality to Taiwan’s foundational success.

President Lai noted in his inauguration address that “… democracy and freedom are Taiwan’s unwavering commitments. Peace is the only option. And prosperity, gained through lasting peace and stability, is our objective.”

President’s Lai’s leadership and commitment to global economic partnerships should catalyze U.S.-Taiwan relations. His expressed focus on developing “Five Trusted Industry Sectors, namely semiconductors, AI, military, security and surveillance, and next-generation communications” provides clear direction for the future of economic ties between the United States and Taiwan.

The U.S. business community is fully committed to working with President Lai, Vice President Hsiao, and their leadership team to carry bilateral business relations forward. Prosperity, coupled with democracy and peace, is the cornerstone of a successful and thriving nation. We are poised to ensure that both countries and their people remain central to global economic dynamism and growth.

The US-Taiwan Business Council wishes President Lai every success in the coming four years and counts ourselves amongst his and his country’s many global friends who will work with him to achieve his goals.

Sincerely yours,

Rupert J. Hammond-Chambers
US-Taiwan Business Council