By: Eoghan Olkeriil Ngirudelsang
KOROR, Palau — Taiwanese engineer, businessman, and philanthropist Stan Shih was recently appointed by President Whipps as his senior economic advisor, according to the President’s Office social media post.
“As senior economic advisor, Mr. Shih will provide strategic guidance on economic policy, sustainable development, and the diversification of Palau’s economy,” the statement said. A memorandum of understanding (MOU) was signed between Shih and President Whipps, outlining plans for research, business development, and investment opportunities. A photo accompanying the announcement showed the two leaders following the signing.
According to the StanShih Foundation, Shih led a delegation to Palau on Saturday to assess the country’s investment landscape. He is the founder of Acer Group, a global leader in personal computing, and serves on the boards of Taiwan Semiconductor Manufacturing Company (TSMC) and Nan Shan Life Insurance. His achievements include being named one of Businessweek’s “25 Top Managers of the Year” in 1996 and being featured in TIME magazine’s “60 Years of Asian Heroes” in 2006.
Palau has pursued multiple partnerships with businesses and investors to drive economic growth. Among these initiatives, Palau and Taiwan’s Lion Travel Service Co. have discussed launching a premium tourism program in Peleliu. Additionally, Porrima 77, a 77-foot zero-carbon vessel, is collaborating with a Japanese partner to promote eco-tourism.
The latest MOU marks another step in Palau’s cooperation with Taiwan’s private sector. Earlier this month, Whipps met with Taiwan’s Renewable & Clean Energy and Sustainable Tourism teams. Last month, a delegation of Taiwanese legislators visited Palau under the Palau Tourism Promotion Initiative to explore investment and tourism opportunities.
Taiwanese media reports indicate that President Whipps is scheduled to visit Taiwan in May. His itinerary includes a stop in Kaohsiung, where the Porrima P111 vessel is being upgraded, and a visit to a wind energy development project operated by Taiwan-based Wistron Corp.