Texas Gov. Greg Abbott has begun a one-week economic mission to Taiwan, South Korea, and Japan, where he will meet top-level officials and leading business leaders to attract new investment in industries crucial to the global economy, the governor’s office said.
The tour of Asia, organized by the Governor’s Economic Development & Tourism Office and the Texas Economic Development Corporation, takes place between July 5 and 13.
“As we look towards the future, Texas is leading the way by advancing freedom and opportunity through cooperation and mutual economic development to empower the next generation. Texas offers businesses in critical and emerging industries, such as semiconductors and advanced manufacturing, across the country and around the world the tools and opportunities to grow and thrive,” said Abbott.
“I look forward to meeting with business and government leaders in Taiwan, South Korea, and Japan to strengthen our economic and cultural partnerships as we work together to forge the future of innovation,” the governor added.
On their bilateral economic relations, Japan remains one of Texas’ largest sources for foreign direct investment projects over the last decade. From 2013 to 2023, Japanese companies have invested $10.87 billion in 129 projects, creating more than 20,000 jobs in Texas.
In the first five months of this year, Japanese companies have so far invested $1.47 billion in six additional projects, which are expected to create more than 520 new jobs in Texas. The state’s trade with Japan amounted to $31.2 billion last year, making Japan the fifth-largest total trade partner with Texas.
The trip was paid for by the Texas Economic Development Corp., an independently funded and operated nonprofit organization responsible for promoting the state as a premier business location.
Together with the Governor’s Economic Development & Tourism Office, Abbott said these two organizations were the cornerstones of his economic development agenda to build a bigger, better Texas.
