Foxconn and TSMC strike deal to buy 10 million COVID vaccines for Taiwan

TSMC and Foxconn, the two giants of international technology supply chain in Taiwan, have agreed for purchasing 10mn Covid-19 vaccinations for country. The move dodges a standoff prevalent between Beijing and Taipei. Both these firms will pay around $35 for per dose of BioNTech Covid vaccine and donate these to the govt, each firm has taken the pledge to invest $175mn.

BioNTech has collaborated with Shanghai Fosun Pharmaceutical for distributing its mRNA vaccine, which was developed along with Pfizer in China. Meanwhile, Taiwan claims the Chinese govt blocked an effort to acquire a BioNTech supply of the vaccinations and declined the offer of Covid vaccine donations coming from mainland later on. With this arrangement, Fosun and BioNTech are both allowed to deal in private firms than Taiwanese govt, which is being considered illegitimate by Beijing.

Notably, Taiwan has received a lot of appreciation for how it responded to the Covid-19 pandemic; however, it is presently witnessing a major outbreak, which has claimed the life of over 700 people as well as increased demand for the vaccines. Previous week, the govt said that only a little more than 14% of the population, or around 3.3mn people in Taiwan, had received a vaccine shot.

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