Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract chipmaker, dominates advanced chipmaking and controls critical capacity that shapes the global semiconductor supply chain. Carl Wegner, President of the American Chamber of Commerce in Taiwan (AmCham Taiwan), said on Storm Media's current-affairs program “Fly to the World”(下班國際線) that TSMC's success fundamentally rests on being “trustworthy”: even in a fiercely competitive market, foreign firms still entrust their most valuable IP and critical designs to TSMC because they do not expect it to share their technology with others.
Wegner explained that AmCham Taiwan has long served as a key bridge between Taiwan and the United States, using its annual Taiwan White Paper and regular Business Climate Survey to capture member companies' main concerns regarding Taiwan's challenges and opportunities. These efforts, he noted, are intended not only to reflect member interests but also to help Taiwan build a more transparent and stable economic environment where foreign firms can invest with confidence and continue to expand their presence.
On the question of Taiwan's advantages in attracting foreign investment,Wegner highlighted Taiwan's position in a relatively safe “non-red supply chain” — production networks outside China that have become increasingly important to the United States and multinational companies. Through interactions with both the Taiwan and U.S. governments, he said, it is clear the two sides share close historical ties and common values, and the U.S. places particular value on Taiwan's execution strength: while many ideas may originate in America, Taiwan reliably turns them into high-quality, large-scale manufacturing.
When asked about risks from the perspective of foreign investors, Wegner said AmCham's white papers and surveys show that key concerns include geopolitical tensions, complex bureaucracy, Taiwan's relatively small domestic market that can make entry more challenging, and the reliability of the power supply. In recent surveys, he added, power supply stability has stood out as a major worry, especially as companies evaluate long-term manufacturing and data center investments that require secure and predictable energy.
Despite these issues, Wegner emphasized that investment momentum remains strong. In just six months since taking his role, he has attended multiple new factory openings and received numerous reports on upcoming projects, leading him to observe that many manufacturers continue to invest in Taiwan and remain confident in its prospects. Looking ahead, he suggested that three areas will be especially important for Taiwan's economic upgrading: “data maturity,” “human capital maturity,” and “governance maturity,” stressing that these are not uniquely Taiwanese tasks but challenges every country must continuously address.
Wegner also traced how foreign companies initially came to Taiwan to produce items such as shoes and Barbie dolls, trusting that orders placed in Taiwan would be reliably fulfilled. Over time, he said, they shifted more and more — and higher-value — orders to Taiwan, even though similar goods could also be produced in China or Vietnam, because Taiwan had built a reputation for dependable delivery. That long track record of reliability, in his view, is a core reason behind Taiwan's continued success in winning global business.
Returning to TSMC as the clearest example, Wegner argued that this trust factor is what truly sets the company apart. Even though TSMC's customers compete fiercely with one another, they still choose to place their most advanced chip designs and IP in TSMC's hands because they believe it will not leak or misuse their technology. This deep reservoir of trust, he said, not only anchors TSMC's global dominance but also underpins the close cooperation between Taiwan and the United States in critical technology supply chains. In parallel, he contrasted different innovation models by noting that “Israel is a country renowned for innovation, while Taiwan is an economy that excels at scaling technology,” adding that Taiwan not only manufactures at scale but often does so profitably while further refining and improving product designs.
When Catherine Lu asked about Taiwan's current advantages in attracting foreign investment according to the White Paper research, Wegner responded that Taiwan possesses a relatively safe "non-red supply chain," which is a crucial component and important for the United States as well. He noted that through exchanges with Taiwan's government and the U.S. government, one can observe the close historical connections between Taiwan and America, with similar ethnic backgrounds and ideologies. The United States values Taiwan's manufacturing capabilities - while America excels in conceptualization, the real key lies in execution, which Taiwan can deliver.
When Catherine Lu pressed further about risks Taiwan faces from a foreign investment perspective, Wegner indicated that, according to AmCham's White Paper and business climate surveys, foreign investors' primary concerns include geopolitical risks, bureaucratic complexity, Taiwan's relatively small market size that may create barriers to market entry, and power stability. He emphasized that the business climate survey from two years ago showed electricity was foreign businesses' top concern.
Wegner also shared that despite joining AmCham only six months ago, he has already participated in multiple new factory opening events and received numerous investment-related reports. "I see many manufacturers continuously investing in Taiwan - they have great confidence in Taiwan."
When Catherine Lu asked for three key indicators that foreign or local entrepreneurs should particularly monitor to improve Taiwan's economy, Wegner responded with three priorities: first, "data maturity," second, "human capital maturity," and third, "governance maturity." However, he emphasized that these three elements apply not only to Taiwan but are conditions every country must continuously improve during its development process.
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