to attract investments from Taiwan TG’s IT dept and TCC sign cooperation agreement

Enhancing trade and economic cooperation between Telangana and Taiwan, the IT Department, Government of Telangana, and the Taiwan Chamber of Commerce (TCC) have signed a bilateral cooperation agreement, a Memorandum of Understanding (MoU), to attract investments from Taiwan, including an industrial park in the city.
This strategic partnership aims to bring foreign investment, infrastructure development and jobs to the State.
The MoU was signed in Taipei by Dr. Vishnu Vardhan Reddy, Special Secretary (Investment Promotion and External Engagement), Government of Telangana, and Simon Lee, Vice President, Taiwan Chamber of Commerce in India (TCCIN).
The main objective is to attract foreign direct investment (FDI) to Telangana, creating jobs for local workers. To enhance cooperation between Taiwanese investors and the Government of Telangana, TCC India will set up an office in Hyderabad to facilitate Taiwanese investment. Through this agreement, Taiwanese FDIs will invest in biotechnology, electronics, artificial intelligence (AI), green energy, and creative culture. Additionally, plans will be made for the India-Taiwan Industrial Park (ITIP) in Hyderabad.
Manchar Singh Yadav, Director General of India-Taipei Association, was also present.