President Lai Ching-te (賴清德) attended the opening ceremony for the 30th annual meeting of the World Taiwanese Chamber of Commerce (WTCC) Friday, where he thanked Taiwanese business people for their dedication to Taiwan, and encouraged them to similarly support Taiwanese allies.

In his speech, President Lai thanked Taiwanese business people who live overseas, but keep Taiwan in their hearts. In particular, he thanked them for consistently rising to the occasion with their donations and help during times of natural disaster. He also pointed out that these business people help to build bridges between Taiwan and countries around the world.

The president then went on saying that Taiwan was placed 8th, according IMD Business School’s 2024 World Competitiveness ranking. Taiwan also came first globally among economies with a population of over 20 million people for the fourth consecutive year. He said that his Five Trusted Industry Sectors investments were made following the benefits he witnessed after former president Tsai’s implementation the 5+2 innovative industries plan, and Six Core Strategic Industries Policy. President Lai’s Five Trusted Industries then, including semiconductors, AI, military, security and surveillance and next generation communications, were in-line with the times and on-going geopolitical changes and needs.

Another topic of conversation at the opening ceremony was the attendance of Palau President Surangel Whipps Jr., who recently accused China of trying to coerce Palau to cut ties with Taiwan through tourism. The WTCC organized an investment delegation to Palau to offer practical support.

President Lai thanked President Whipps, and other diplomatic envoys for their strong support of Taiwan. He called on Taiwanese business people to look for more investment opportunities in Taiwan’s friendly neighbor, and for the public to show their support through tourism, noting Palau’s beauty and dedication to environmental protection.