Taiwan LED Company Speed Tech Corp. is considering the possibility of setting up a Paraguay based LED lighting manufacturing.

Lucas Chiu, president of Speed Tech's unit Speed Tech Energy, is presently leading a delegation to survey the investment environment, in particular in the green energy sector in the Latin American country. And the delegation will promote products from Taiwan.

During the visit, Chiu's delegation has also met with Republic of China Ambassador Jose Maria Liu. In Liu’s opinion, while the Paraguay government hopes more Taiwan companies will invest in the country, the long distance between the diplomatic allies and the language barrier have prevented many local investors from moving ahead.

However, the ambassador said the Speed Tech delegation's visit is expected to help Taiwan companies have a better understanding of the Latin American country, adding he believes Paraguay is full of opportunities in green energy business development.