Taiwan and UK sign MoU promoting bilateral FinTech cooperation
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On 25 September, a memorandum of understanding (MoU) was signed between the Taiwan Financial Services Roundtable and the British Office Taipei committing to closer bilateral cooperation in the financial technology (FinTech) industry. Taiwan Financial Supervisory Commission Chairman Wellington Koo and UK Trade Policy Minister George Hollingbery were both present to witness the signing of the MoU. The two sides agreed to take various measures to promote and reinforce bilateral exchanges in the FinTech industry. For example, UK FinTech companies will enjoy free market guidance at the FinTech Space in Taipei and will be entitled to the same subsidies as local start-ups when they establish a base in Taiwan’s FinTech innovation park.
In his remarks, Chairman Koo said that through the strengthening of bilateral cooperation in the FinTech industry, Taiwan welcomes more British companies to establish bases in the country and hopes to further develop its FinTech sector as well as expand its businesses to the UK. Minister Hollingbery stated that while trying to boost trade and investment between Britain and Taiwan, his government sees the financial service sector as a promising area.
