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RICHMOND, VA - The Commonwealth of Virginia and the Taiwan Eastbound Alliance-Landing America (TEALA) today announced a partnership to increase the pipeline of Taiwanese businesses expanding to Virginia. In a Memorandum of Understanding signed by TEALA and the Youngkin Administration, TEALA committed to constructing their first U.S.-based business center at a to-be-determined location in the Commonwealth. This center will support Taiwanese businesses and serve as a "soft landing" site for them as they scale up operations and secure permanent facilities.
"Taiwan represents a crucial market for foreign direct investment and international trade," said Governor Glenn Youngkin. "This new TEALA office will position the Commonwealth as the premiere location for growing Taiwanese businesses, bringing new jobs and investment that would not be possible without it. I visited Taiwan during my first international economic trade mission as Governor, and as the relationship between Virginia and Taiwan grows, so too will economic opportunities in the Commonwealth."
"It is an honor to be part of the opening of TEALA's first office in the United States, and we are ready to get to work and deepen the Commonwealth's economic and international trade ties with Taiwanese businesses," said Deputy Secretary of Commerce and Trade Luis Lopez. "Taiwan and Virginia share a strong focus on innovation, collaboration, and leadership, and the new office will highlight the Commonwealth's strengths to potential investors and businesses while opening additional markets for Virginia-made products."
With multiple international offices already in operation, TEALA aims to establish a Taiwan-specific international industrial chain model and solidify the Taiwan-U.S. strategic partnership by promoting deep cooperation in trade, capital, technology, and talent. Virginia was selected due to the Commonwealth's pro-business policies and proximity to Washington, D.C.
In collaboration with Virginia, TEALA will work to build a resilient supply chain for strategic industries between Taiwan and the United States and promote the expansion of emerging key industries.
"Taiwan Eastbound Alliance places high expectations on cooperation with the Commonwealth of Virginia," said TEALA Secretary General Allen Cheng. "With its strong momentum in semiconductors, AI, and biotechnology, Virginia is emerging as a key gateway connecting Taiwan's technology ecosystem with the U.S. East Coast. The Alliance will actively advance concrete collaboration with Taiwanese industry partners."
Secured by VEDP's Taiwan office, the announcement builds on previous work to expand Taiwan's foreign direct investments in Virginia. Opened in 2023, the office was established in response to Governor Youngkin's Executive Order 25 to strengthen the business relationship between Virginia and Taiwan, including mutual trade and investment initiatives. The office is Virginia's fourth international office, in addition to VEDP offices in Japan, South Korea, and a Germany-based European office.
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