Abbott showcases Texas economy on global stage in ‘

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AUSTIN — Gov. Greg Abbott Monday highlighted the three economic development missions he led in 2024, meeting with business leaders and government officials around the globe to showcase and promote the booming Texas economy.

“Texas is the eighth-largest economy in the world, a global leader in energy and trade, and the world’s premier economic destination because of our toptier business climate,” Abbott said. “That is why this year, I visited with business leaders and government officials in India, Japan, South Korea, Taiwan, and the United Kingdom to showcase the booming Texas economy and attract more businesses to invest in our great state.”

In January 2024, the governor led an economic development mission to India to meet with company executives, business leaders and government officials to promote Texas’ booming economy — encouraging trade, job creation and capital investment by Indian companies in Texas; and strengthening the ongoing partnership between India and Texas.

“Texas remains the most popular destination for Indian foreign direct investment and jobs created in the entire United States,” Abbott said. “I am confident this enduring bond and strong collaboration will continue for years to come after this very productive economic development mission.”

Abbott visited technology, manufacturing and energy leaders in Mumbai and technology executives in New Delhi.

In March, the governor traveled to the United Kingdom

Texas Gov. Greg Abbott, right, joins Japan’s Aichi Prefecture Governor Hideaki Ohmura in signing a historic State of Mutual Cooperation between the two entities.

Courtesy photo on an economic development mission to deepen the strong economic partnership between the United Kingdom and Texas, encourage expanded trade in critical industries, and attract new job- creating business investments to Texas.

“From signing our new Statement of Mutual Cooperation (SMC), to meeting with Prime Minister (Rishi) Sunak, to holding productive meetings with business leaders, our trip has promoted sustainable economic growth, cutting-edge innovation, and job creation in both Texas and the United Kingdom,” Abbott said.

Abbott met with then-Prime Minister Sunak at 10 Downing Street – the historic residence of British prime ministers since 1735. The two leaders discussed bolstering the cultural and economic relationship between the people of Texas and the United Kingdom.

Prior to the meeting, Abbott signed an SMC with United Kingdom Secretary of State for Business and Trade Kemi Badenoch, promoting economic growth, supporting innovation, and encouraging job creation in Texas and the U.K.

The SMC also prioritizes collaboration in critical sectors such as new and emerging innovative energy solutions, including hydrogen, carbon capture, and energy storage; chemicals production; health and life sciences; supply chains and critical minerals; advanced technologies; aerospace; and more.

In July, Abbott completed a successful three-nation economic development mission to Taiwan, South Korea and Japan.

During the trip, the governor met with company executives, business leaders, foreign dignitaries and government officials to promote Texas’ booming economy and drive progress in industries that are critical to the future of the global economy.

On the first full day of the economic development mission, Governor Abbott announced the opening of the state of Texas Taiwan Office during a press event in Taipei.

The state’s Taiwan Office will help attract foreign direct investment and job creation into Texas and increase Texas exports into Taiwan and other Asian countries.

“Texas and Taiwan are critical economic partners that seek to drive the future of innovation,” Abbott said. “By working together, we will ensure our people have the freedom and opportunity to thrive in the growing economies of the 21st century.”

Governor Abbott also signed an Economic Development Statement of Intent with Taiwan Minister of Economic Affairs Jyh-Huei Kuo to helps boost investment, expand trade, spur job creation and increase innovation in critical industries between Texas and Taiwan.

After a successful trip to Taiwan, Abbott traveled to South Korea to strengthen economic relationships, visit with foreign dignitaries and meet with business leaders.

In South Korea, the governor announced the SeAH Group has established a high-performance metal manufacturing facility in Temple, Texas, generating $110 million in capital investment and creating over 100 new jobs in Central Texas.

The Governor also met with Samsung Electronic Co., Ltd. executives at their semiconductor campus in Pyeongtaek and toured the P1 line in the Pyeongtaek complex.

Abbott then visited Japan to meet with Chief Cabinet Secretary Yoshimasa Hayashi in the Prime Minister’s office. Both Abbott and Cabinet secretary explored ways Texas and Japan can continue to strengthen the economic partnership through trade and new foreign direct investments.

“Texas and Japan aspire to drive the future of innovation,” Abbott said, “and by meeting with Japanese government officials, we ensure Texas and Japan continue to work together to spur economic growth and prosperity for our two peoples.

“ We will ensure our economic ties are bolstered through cooperation and mutual economic development that will empower the next generation of leaders to thrive,” he added.

Following the meeting with Chief Cabinet Secretary Hayashi, the Governor met with Japan’s Minister of Foreign Affairs Yoko Kamikawa.

Wrapping up the three-nation economic development mission while in Tokyo, Abbott joined Aichi Prefecture Governor Hideaki Ohmura to sign a historic SMC that will encourage more trade in critical industries and attract new business investments to Texas.

“Texas and Japan must continue to expand our important relationship and grow our economic and cultural ties,” the governor said.

“That is why I am proud to sign this key economic development agreement with Aichi Prefecture,” he said. “As Texas and Japan drive the future of innovation, this trade agreement will provide our two peoples with the economic freedom and opportunity to thrive for generations to come.”