Chairman Albert Chang on BloombergTV’s Daybreak Asia show

American Chamber of Commerce in Taipei Chairman Albert Chang, Managing Partner of McKinsey & Company Taiwan Office, spoke with BloombergTV Daybreak Asia immediately prior to the public release of AmCham’s Business Climate Survey (BCS). The BCS was released at a news conference on March 12 held at AmCham Taipei’s Lincoln Room.

The chairman spoke on a wide variety of subjects, tying issues raised in the BCS to global trade and U.S. policy, including tax reform and import tariffs. Emphasizing the integral role that Taiwan and multinational firms operating here play in global supply chains, Chang highlighted the importance of clear and consistent U.S. policy and openness to global trade to their operations.

Live interview on BloombergTV’s Daybreak Asia show, courtesy of Bloomberg.

2018 AmCham Taipei Business Climate Survey

Most member companies of the Chamber are optimistic about Taiwan’s economy and their own profitability over the next three years, but business leaders have serious concerns about energy, the labor law and the way regulations are made. Those were the major findings of the 2018 Business Climate Survey, conducted for AmCham by PwC Taiwan. The results were released at a news conference, followed by a membership luncheon, on March 7.

Download the full Business Climate Survey report, click here.

The survey showed that AmCham companies have deep roots in Taiwan, with two-thirds of the respondents working for firms that have been operating here for more than two decades, said Albert Chang, chairman of AmCham.

Live video of the news conference:

Some of the key positive responses from AmCham member companies included:

  • 55% are confident about Taiwan’s economic outlook this year, and 50% are confident about the three-year outlook.
  • 81% expressed optimism about revenue growth this year, and 79% were optimistic about the three-year outlook.
  • Nearly 40% intended to increase their employee headcount this year.

2018 Business Climate Survey – top executives’ views on the growth of the #Taiwan #economy and their own companies.

A majority regard the “5+2 Innovative Industries” and “Forward-looking Infrastructure” plans as likely to benefit Taiwan’s economic development. Nearly half of respondents view the initiatives as “likely to impact” their companies’ decisions on future business expansion in Taiwan.

Some key areas of concern included:

  • Nearly 50% said the labor law isn’t flexible enough.
  • 84% were concerned about the future sufficiency of the power supply.
  • 58% were dissatisfied with the degree of policymakers’ attention to business needs.

2018 Business Climate Survey – an in-depth look at the level of concern for Taiwan’s power supply and energy-related issues.

Respondents were also critical of the U.S. withdrawal from the Trans-Pacific Partnership. They were concerned Washington’s foreign policy and trade-related initiatives are putting American companies at a competitive disadvantage in the Asia-Pacific.

The results of the online survey, which had a 51.3% response rate, were based on responses from 198 members polled this year between Jan. 10 and Feb. 23.

Download the full Business Climate Survey report, click here.

Albert Chang Re-elected AmCham Taipei Chairman

At the first meeting of the 2018 Board of Governors, held December 12 at the W Hotel, Albert Chang was elected by acclamation to a second term as AmCham Taipei Chairman.  Chang, Managing Partner of the Taiwan Office of consulting firm McKinsey & Company, is a native of the San Francisco Bay Area and holds degrees from Stanford University and Harvard Law School.

Chang nominated and the Board approved the following standing officers for the coming year:

  • Standing Vice Chairman – Leo Seewald, Chairman & Managing Director of BlackRock Investment Management (Taiwan) Ltd.
  • Vice Chairman – Vincent Shih, Assistant General Counsel and General Manager for Corporate, External & Legal Affairs at Microsoft Taiwan Corp.
  • Secretary – Fupei Wang, Managing Director of Ogilvy Public Relations Taiwan.
  • Treasurer – C.W. Chin, Managing Director of Corporate Development for Micron Asia Pacific.

For the full list of AmCham Board of Governors, please go to Board Structure.

2017 Annual General Meeting

AmCham Taipei held its Annual General Meeting on November 21 at the Shangri-La’s Far Eastern Plaza Hotel. Members and guests gathered to vote for the upcoming year’s Board of Governors and changes to the Chamber’s Articles of Association. More than 160 AmCham Taipei members and guests attended the event, including chief executives and senior management-level officers from various industries.

Opening the session were remarks by AmCham Taipei Chairman, Albert Chang, who thanked the Chamber’s current Board for their services and introduced the board candidates for 2018.

Director Kin W. Moy of the American Institute in Taiwan (AIT) also spoke, expressing his appreciation for the partnership with AmCham on policy issues, regulatory matters, and programs that support bilateral economic relations between Taiwan and the United States. Before introducing Vice President Chen, Director Moy touted the expansion of the United States’ Global Entry program to residents of Taiwan and noted the simultaneous opening of Taiwan’s e-Gate program to U.S. passport holders.

Remarks by Vice President Chen

This year, AmCham Taipei was honored to have Dr. Chen Chien-Jen, Vice President of the Republic of China, as our special guest speaker. Vice President Chen expressed his thanks for the Chamber’s efforts as both an advisor and facilitator in strengthening business ties between Taiwan and the United States. He also said that the “Chamber’s annual Doorknock Trip to Washington is an invaluable communication channel between Taiwan and the U.S.”

Vice President Chen stressed Taiwan’s integration into the global economy and highlighted government policies that could benefit both Taiwan and the U.S:

  • 5+2 Innovative Industries & New Southbound Policy to promote domestic and regional prosperity through the Asia-Pacific. The 5+2 Innovative Industries initiative focuses on green energy, biomedicine, smart machinery, national defense, and an Asian Silicon Valley, as well as new agriculture and the circular economy. At the same time, the New Southbound Policy will benefit businesses in Taiwan and provide opportunities to develop new markets.
  • Taiwan-US bilateral trade agreement to enhance partnerships and foreign relations efforts by reducing trade barriers and facilitating more investment, while creating more job opportunities.

Year in Review

Albert Chang summarized the Chamber’s achievements and progress on resolving key issues over the past year. View the full presentation below.

Election Results

AmCham Taipei conveys our sincere thanks to all of our voting members who attended and offered their support. With your help, we reached a quorum and held a successful election.

The Board structure page on our site will be updated in January to reflect the status of incoming and outgoing Board members. A brief summary of results follows – you may download the complete announcement by clicking here.

2018-2019 Governors (Name, Company)

  • Anita Chen, Google Taiwan
  • Chyi-Woei Chin, Micron Tech Asia Pacific Taiwan
  • Edward Shober, Versum Materials Taiwan Co., Ltd.
  • Joanne Tsai, FOX NETWORKS GROUP
  • Daniel Tseng, Corning Display Technologies Taiwan
  • Fupei Wang, Ogilvy Public Relations

2018 Supervisors (Name, Company) 

  • Petra Jumpers, Eli Lilly and Company (Taiwan), Inc.
  • Joyce Lee, Bristol-Myers Squibb (Taiwan) Ltd.
  • Timothy John Shields, Cigna Taiwan Life Assurance Company Ltd.

Congratulations to the winning candidates, and heartfelt thanks to all who supported the Chamber by participating in the election.

Chairman Albert Chang presents a gift to express the Chamber’s appreciation to President Andrea Wu.

Tribute to Outgoing President Andrea Wu

The Annual General Meeting was also an opportunity for the Chamber to present a gift and express its appreciation to Andrea Wu, who will be stepping down as president on December 31 after more than nine years in the position to devote time to family and travel. A video was shown of Andrea’s participation in AmCham events over the years, and Albert Chang praised her achievements on behalf of the Board and the membership as a whole. In brief remarks, Andrea expressed her gratitude to the Board for its support over the years and thanked the dedicated office team for their contributions.

Chang also announced that the search committee had already selected a highly qualified successor as president, who is expected to take office in January.

“Chicago”: The 2017 American Ball

The 2017 edition of the always much-anticipated American Ball, co-organized by AmCham Taipei and the American Institute in Taiwan (AIT), took place October 28 in the beautiful Grand Ballroom of the Grand Hyatt Taipei. Guests enjoyed the room’s dazzling Chicago-themed décor provided by the Feng Ze Design Center, crowd-pleasing entertainment routines devised by the VMJ dance group, and the choice of music by energetic vocalist Dooley and his band, as well as DJ Rick Kraft.

The Master of Ceremonies was Mark Lewis, taking a break from his day job at the AIT Commercial Section. AmCham Chairman Albert Chang and President Andrea Wu, accompanied by AIT Director Kin Moy and Deputy Director Rob Forden, greeted the attendees on behalf of the host organizations.

View the full photo gallery here.

Before the reception, guests were greeted with a lively cocktail reception drink of Robert Mondavi Winery’s Woodbridge Sparkling Brut courtesy of Sergio Valente Inc. The gourmet five-course meal that followed featured smoked salmon tartare, lentil soup with papadum chip and sour cream, Tarocco Orange sorbet, roasted U.S. beef tenderloin with polenta cake and crispy carrot, and for dessert a Red “C” chocolate-origin mousse with raspberry sorbet and sea salt sable. The dinner was accompanied by Robert Mondavi Winery Woodbridge Cabernet Sauvignon and Chardonnay (from Sergio Valente) and Johnnie Walker Double Black (from Diageo). Cocktails and Guinness stout were available at the bar.

The event was made possible by the generosity of a number of sponsoring companies. These included Grand Prize Sponsors United Airlines and Grand Hyatt; Wine & Liquor Sponsors Diageo and Sergio Valente; Gold Sponsors HSBC, Grand Hyatt Taipei, and Versum Materials; Décor Sponsor Standard Chartered Bank; Silver Sponsors Bristol-Myers Squibb, BlackRock, Corning, and Prospect Hospitality Co. Ltd. (McDonald’s Restaurants); and General Sponsor The Tobacco Institute of the Republic of China (TIROC).

Substantial raffle prizes added to the excitement of the evening. This year’s grand prize, an “Ultimate Dream Vacation” package, included two round-trip Taipei to Chicago business-class tickets by United Airlines, plus a three-night stay at the Park Hyatt Chicago. Other gift sponsors were 3M, eslite hotel, Ever Rich, Grand Hyatt, Hotel Eclat Taipei, Howard Plaza, The Landis Taipei, Mandarin Oriental Taipei, Mellow Fields Taipei, Palais de Chine, The Place Tainan, Procter & Gamble, Regent Taipei, Shangri-La’s Far Eastern Plaza Hotel, The Sherwood Taipei, Westin Taipei, The Westin Tashee Resort Taoyuan, and W Taipei.

Interested in attending our events? Join us at other upcoming events, click here.

Note: AmCham events are intended primarily for AmCham members and their guests. Many events are open to members’ guests and other non-members, but the attendance of any non-member must be approved in advance. AmCham reserves the right not to admit a non-member to any event without explanation.

New NDC Minister Chen Mei-ling Visits AmCham

Just two weeks after taking office as Minister of the National Development Council (NDC), Chen Mei-ling paid a courtesy call at AmCham Taipei accompanied by colleagues including Deputy Minister Kao Shien-quey, Director-general Connie Chang of the Department of Overall Planning, Director of the Minister’s Office Ray Chou, and staff members from the Council’s Regulatory Reform Center.

The group was received at AmCham Taipei’s 6th floor Lincoln Room by Standing Vice Chairman Dan Silver, Vice Chairman Daniel Tseng, President Andrea Wu, Former Chairman Paul Cassingham, Governors Tim Ju and Vincent Shih, and Senior Directors Don Shapiro and Amy Chang.

The discussion covered a wide range of topics including energy policy, the labor law, government procurement, healthcare policy, the automotive industry, the promotion of data technology, and the importance of attracting foreign investment.

Minister Chen, who holds a master’s degree in law from National Taiwan University and a doctorate in law from National Cheng Chi University, served as Secretary-General of the Executive Yuan before taking her current position. She said that her legal background means she is likely to take a different approach from her predecessors heading the NDC, who were mainly economists. While affirming the importance of economic development, she said that her concept of “development” is broader, incorporating the various other factors that impact life in Taiwan.

The new minister expressed the wish to maintain frequent contact with AmCham Taipei as issues of mutual concern arise.

AmCham Taipei Marks 66th Anniversary

With a gala reception attended by nearly 100 members and guests, the American Chamber of Commerce in Taipei on September 14 celebrated the 66th anniversary of its establishment. The event was held at The Penthouse located on the 16th floor of the Eslite Hotel, where attendees enjoyed a light buffet dinner and spectacular night views of Taipei City.

The event was sponsored by Abbott Laboratories Services Corp., Taiwan Branch.

2017 Anniversary Cocktail – AmCham Taipei Acting Chairman Dan Silver, President Andrea Wu, AIT Directory Kin Moy

In brief remarks, AmCham Taipei Acting Chairman Dan Silver highlighted some of the Chamber’s key achievements over the past year, including this year’s June 26-30 Doorknock trip to Washington, D.C. to better understand the current thinking in the American capital about U.S.-Taiwan relations.

He also mentioned that this year the annual Taiwan White Paper received wide media and government attention, especially when it became known that no issues from the 2016 White Paper had yet been completely resolved. In response, the Taiwan government set up quarterly review meetings with AmCham Taipei over the coming year, to monitor progress on the issues and help ensure better results in the current advocacy cycle.

2017 Anniversary Cocktail – AmCham Taipei Acting Chairman, Dan Silver

Silver also reported that the utilization of the AmCham Taipei Lincoln Room, the multifunctional meeting space on the 6th floor of the Chamber’s office building, has been growing at a very encouraging rate and has increased its revenue by 60% from last year. The Lincoln Room has served more than 60 Chamber events this year, including press conferences, government visits, luncheons, workshops, seminars, happy hours, and marketplace sessions, and it is also available for rental by member companies and others.

Further, Silver called attention to the efforts to increase the digital presence of the main AmCham website and Taiwan Business TOPICS Online, as the traffic of both websites has grown steadily, doubling compared to a year earlier.

Representing the American Institute in Taiwan (AIT), Director Kin Moy expressed appreciation for AmCham’s longstanding, continuous efforts to strengthen bilateral economic relations between Taiwan and the United States. He cited the Chamber’s annual Taiwan White Paper as providing excellent reference for both the Taiwan and U.S. governments regarding the needs of multinational businesses operating in Taiwan.

2017 Anniversary Cocktail – the American Institute in Taiwan Directory Kin Moy

Interested in attending our events? Join us at other upcoming events, click here.

Note: AmCham events are intended primarily for AmCham members and their guests. Many events are open to members’ guests and other non-members, but the attendance of any non-member must be approved in advance. AmCham reserves the right not to admit a non-member to any event without explanation.

Launch of the 2017 Taiwan White Paper

With a morning press conference attended by 28 media outlets and a luncheon presentation before 112 Chamber members and guests, AmCham Taipei released its 2017 Taiwan White Paper on June 8. At the luncheon meeting in the Grand Ballroom of the Mandarin Oriental Taipei, AmCham Chairman Albert Chang and President Andrea Wu officially presented a copy of the new White Paper to Minister Chen Tain-jy of the National Development Council (NDC), who received it on behalf of the Taiwan government.

Minister Chen of the NDC accepted the Taiwan White Paper on behalf of the Taiwan government.

AmCham Taipei has published the Taiwan White Paper annually since 1996 to provide the Taiwan government with constructive suggestions on how to strengthen the business climate. This year marks the 20th year since the White Paper was first published in bilingual format in 1997.

Chang’s briefing focused on five major themes related to the performance of President Tsai Ing-wen’s administration during its first year in office:

  • A major advance in regulatory transparency. Chang said the government’s decision last year to extend the notice and comment period for new laws and regulations from 14 to 60 days was “cause for major celebration.” He said that government agencies’ collection of more input from stakeholders should lead to more effective rule-making, especially if it spurs real dialog between the regulators and the regulated.
  • Opportunities for investment. The administration’s ambitious “5+2 Innovative Industries” plan has attracted interest from foreign companies, especially in the fields of the Internet of Things, biomedical, and green energy. But Chang cautioned against allowing the construction of physical facilities to overshadow the need to foster the right innovation-stimulating “software” by cultivating talent, creativity, and culture.
  • A problematic labor law. Recent amendments to the Labor Standards Law are geared to the factory-based circumstances of the “old economy” rather than the service-centered, knowledge-oriented model that must constitute Taiwan’s future. The rigid rules on working hours, overtime, and other working conditions will in fact serve to stifle creativity. Means must be found to incorporate more flexibility into the rules.
  • Continued energy uncertainty. For Taiwan industry, it is crucial to have sufficient, reliable, and cost-competitive electrical power. But many observers are unsure how Taiwan will be able to achieve that objective while also meeting its announced dual goals of eliminating nuclear power and drastically cutting carbon emissions. Industry needs the government to provide a clear roadmap for Taiwan’s future energy development.
  • Bolster trade ties with the United States. Although the future of the Trans-Pacific Partnership (TPP) is now very much in doubt after the U.S. pull-out, Taiwan still needs to find ways to diversify trade and avoid marginalization in the international economic arena. AmCham supports the idea of “free and fair” bilateral trade agreement between Taiwan and the United States. Taiwan after all is America’s 10th largest trading partner, and the two have enjoyed a long and fruitful economic relationship. Although the Trump administration has opposed multilateral agreements, it has left the door open to bilateral pacts, and Taiwan would be a highly suitable negotiating partner as long as it is willing to follow international standards and practices in its trade policies.

In addition to those broad themes, the 2017 Taiwan White Paper includes 83 sector-specific recommendations from 24 AmCham committees or industry groups.

Looking back at the 80 suggestions raised by AmCham committees in the 2016 Taiwan White Paper, the Chamber found that not a single one had been fully resolved in the past year, although eight issues were rated as showing satisfactory progress. Chang said the lack of complete resolution of any issues was reason for concern but not pessimism.

“We hope to work closely with the government to bring about more traction on issues of importance to our member companies,” he said.

To facilitate that progress, AmCham this year identified 12 Priority Issues for Special Attention, selected as having both the potential for high impact and feasibility for relatively early resolution. The Chamber is asking the government to assign a point-person to be responsible for monitoring the progress of all 80 suggestions, but especially the 12 Priority Issues, and to liaise with AmCham at least every quarter to discuss their status.

In remarks delivered after accepting the White Paper, Minister Chen said the government values its longstanding good relationship with AmCham and will take the White Paper recommendations very seriously.

View the full photo gallery here

AmCham’s 2017 Golf Championship

On May 12, AmCham Taipei held its 2017 Golf Championship at the Kuo Hua Golf & Country Club in Beitou.

With a full shot-gun start, all players teed-off promptly at 6:30 a.m., following the Texas Scramble based on Peoria format. The day was mostly cloudy with pleasant temperatures, and players were able to stay refreshed with non-alcoholic drinks generously sponsored by Swire Coca-Cola, Savanna Cider by Distell, and Ice cream by Swensen’s.

A total of 55 golfers, organized into 14 teams, took part in the golf event.

Thanks to hole-sponsors Corning, and Taiwan Sotheby’s International Realty, golfers had the chance to win Nearest to the Pin contests at every Par-3 hole, as well as Longest Drive on two Par-5 holes. In addition, Ally Logistics Property also sponsored 8 sleeves of top-quality golf balls as hole prizes.

All participants also took home “goody bags” filled with prizes provided by Asian Tigers, Ally Logistics Property, Costco, Crown, and Taiwan Sotheby’s International Realty.

Tournament Results

Team handicaps for this year’s tournament were determined using the Peoria system, with the six special holes drawn randomly by players during the awards lunch. Evonik (Thomas Zechel, Albert Lee, Michael Huang, and KC Lin) won the championship. Other golfers also had opportunities to win prizes in the lucky draw that followed, with products sponsored by Audi, Costco, Grand Hyatt Taipei, Howard Plaza Taipei, IGST, Patron Spirits, Regent Taipei, Shangri-La’s Far Eastern Plaza Hotel Taipei, Silks Place Taroko, The Place Tainan, The Sherwood Taipei, and the W Taipei. Distell also sponsored Scottish Leader Whisky that was served during lunch.

Before ending lunch, AmCham President Andrea Wu extended special thanks to the 2017 AmCham Golf Committee – Doug Klein, Jesse Chen, James Hsiao, and Wayne Shen – for their expert advice on all things golf-related.

View the full photo gallery here

Remarks by AmCham Taipei Chairman, Albert Chang at the AmCham Taipei Banquet, Hsien Nien Fan

The American Chamber of Commerce in Taipei held its 49th annual Hsieh Nien Fan banquet on March 22nd in the Grand Ballroom of the Grand Hyatt Taipei.

Opening the evening were remarks by AmCham Taipei Chairman, Albert Chang, who expressed thanks on behalf of the Chamber to both the Taiwan government and AIT for helping to promote a positive business environment in Taiwan. He stressed the findings of AmCham Taipei’s recent 2017 Business Climate Survey that an already excellent business environment – especially with regard to quality of life and human capital – could easily be further improved through greater regulatory transparency and consistency.

A transcript of the chairman’s remarks is as follows:

Welcome, Good evening! President Tsai, Ministers, AIT Director Moy, AmCham Members, and Distinguished Guests. Let me say a warm welcome to AmCham Taipei’s annual Hsieh Nien Fan!

This is a historic evening. Every year, for the past 49 years, AmCham has gathered together the top leaders from government and international business. And tonight, we have set a new record of nearly 700 people here. To Director Moy and our fellow AIT leaders, we are so happy to have you with us tonight. This is a historic night, because tonight we welcome someone who herself has made history. Madam President, let me say, on behalf of AmCham Taipei, we are so honored to have you with us this evening. And so to you, your Ministers, and the 100-plus government officials here tonight, we offer a warm welcome and a heartfelt thank you.

As we gather here tonight, we have so much to celebrate.

The leaders in this room have personally overseen the creation of thousands-upon-thousands of high-quality high-paying jobs and billions of dollars of investment in Taiwan. Let’s not forget these are not numbers on a piece of paper. The companies in this room have done their part to improve the lives of the average Taiwanese citizen in very real ways.

When we asked our members in our most recent Business Climate Survey about their hiring and investment plans, they told us that they are doubling down here. Half of the companies in our Survey responded that they grew their headcount and investment in Taiwan in 2016. Half of the companies responded that Taiwan is a top 10 global priority for their company.

On quality of life, an overwhelming majority expressed enthusiasm for the quality of Taiwan’s workforce and the outstanding living environment. Some even joked that Taiwan is the only place in the world where the taxi drivers are nicer than the passengers! Even for me personally, when people tell me my Chinese has improved, I tell them I learn everything I know from our taxi drivers! But then when they say my accent is so bad, I guess I know who’s to blame.

On regulations, under Premier Lin Chuan’s leadership, the notice and comment period for new regulations has been extended from 14 days to 60 days, facilitating stronger input on proposed regulatory changes.

We thank President Tsai and the Taiwan government for creating an environment that welcomes the world’s leading companies to plant their flag in Taiwan and encourages them to invest, innovate, and grow here.

But, at the same time, we are not naïve, we all know that there is still much more work to do to unlock the next wave of growth in jobs and investment. If there is one message from our members on the state of the business environment in Taiwan, it is that we need to accelerate the pace of improvement.

And we need to do it in 3 key areas:

  • Number 1: Government regulations – Regulations are the essential glue to a well-functioning, modern economy like Taiwan. But this is one area our members said Taiwan needs to step up. We’re looking for more transparency around the regulatory process; and we need more time and more opportunities to provide meaningful input into the process by which new laws are formulated and approved. This is the single biggest issue for international businesses here year after year.
  • Number 2: Labor law –In today’s digital economy, where whole industries are being disrupted by fast-moving innovators, labor laws need to keep up. Labor laws in Taiwan need to become more relevant, they need to become more actionable, and they need to become more relevant to the day-to-day needs of companies trying to invest, innovate, and grow.
  • And Number 3: Our members are looking for Taiwan to be a source of macro-economic stability in a world that is becoming more uncertain and more fraught with risks than ever before. Stability instills confidence throughout the entire system, and lets business leaders feel assured that their investments will be secure today, and in the future.

To my esteemed colleagues and friends in the room here, I would say this: you’ve all done so much to get Taiwan to the enviable position that it is in today: a thriving, vibrant democracy; a nation of smart, friendly, and hard-working people; and one of the largest trading nations on earth.

At AmCham, we are more optimistic than ever. We have here tonight the public and private sector leaders who will shape the economic future of Taiwan. And while we may not all share the same goals or agendas, what we do share, what does bind us together, is a deep commitment to continued economic growth and prosperity in Taiwan.

Personally, coming back to Taiwan several years ago was a deeply meaningful homecoming for me. I am personally committed to work with the esteemed leaders present in the room here tonight, to ensure that this home that we call Taiwan is a place where we can raise our families, build our businesses, and pursue our dreams in peace and prosperity.

Before I hand over the podium, I’d like to share with you an often-cited African proverb, my favorite proverb in fact, which states, “If you want to go fast, go alone…but if you want to go far, go together.” Tonight, we gather in recognition of the fact that, although there is so much work to do, there is no limit to what we can accomplish, if we do it together.

To President Tsai and Director Moy, we extend our warmest welcome and deepest thanks, and we look forward to years of continued partnership together.  Ladies and gentlemen, please join me in welcoming, Mr. Kin Moy, Director of the American Institute in Taiwan.