Taipei: Taiwan’s government has announced the creation of a new pound 50 million (US$58 million) fund aimed at fostering increased investment between Taiwan and the Czech Republic. This announcement coincided with the conclusion of a four-day visit by Czech Senate Speaker Milo‚¬Å¡¬¦¡ Vystrcil and his delegation.
According to Focus Taiwan, Vystrcil, along with a 40-member delegation of Czech business and academic representatives, attended several meetings during their stay in Taiwan. A significant development occurred during a visit to Taiwan’s National Development Council (NDC), where NDC Minister Yeh Chun-hsien and Minister of Economic Affairs Kung Ming-hsin revealed the establishment of the new fund. It is intended to enhance bilateral investment between the two nations.
The NDC also released a statement noting that this new fund will supplement an existing US$200 million fund launched in 2022 for investment in Central and Eastern Europe. The fund will target Taiwanese companies entering the Czech market, Czech companies operating in Taiwan, and joint ventures between the two countries, as explained by Yeh.
Yeh expressed hopes that the initiative would transform the friendly relations between Taiwan and the Czech Republic into tangible outcomes in terms of two-way investment and technology exchange. This effort aims to strengthen economic and trade cooperation between the two nations, the NDC press release elaborated.
During a press event, Vystrcil expressed satisfaction with the announcement of more direct flights between Taiwan and Prague starting in August. While there were only three weekly direct flights during his last visit in 2020, there will soon be daily flights, enhancing connectivity between the two regions.
Vystrcil also addressed criticism from within his government regarding his trip to Taiwan. He noted that before embarking on the journey, he sought the support of fellow senators for strengthening ties with Taiwan. Of the 68 senators, 54 endorsed his visit and passed a resolution advocating for enhanced bilateral relations.
Despite the smaller size of the 2026 delegation, due to the absence of a government aircraft, Vystrcil deemed the trip successful. Czech Prime Minister Andrej Babi‚¬Å¡¬¦¡, elected last year, had declined to provide a government aircraft to avoid any perception of official endorsement that might jeopardize Czech business interests in China.
Vystrcil and his delegation were scheduled to leave Taipei late Thursday.