Foreign investment keeps growing thanks to gov’t moves

Michelle Hsu, TAIPEI, Taiwan, The China Post

The Investment Commission under the Ministry of Economic Affairs (MOEA) yesterday disclosed the June statistics, saying foreign investments had kept growing over the first six months as a result of the government’s efforts to invite foreign companies to set up offices or production lines in Taiwan.

As the official statistics indicated, the MOEA approved 563 investment projects filed by foreign companies, up 11.93 percent, and the total projected investments valued grew on a larger margin of 41.76 percent to reach US$1.654 billion. In June alone, the government approved 97 projects, worth US$281 million.

However, there appear to be signs of a decrease in Taiwan’s overseas investments. The MOEA approved 341 overseas investment projects during the first six months, and they were worth US$1.424 billion in total. The number of approved investment projects and investment value dropped 17.63 percent and 15.78 percent, respectively.

Mainland investments, nevertheless, showed impressive growth for the first six months. A total of 1,074 projects were approved, with a total value of US$3.39 billion. The former went up 11.76 percent and the latter 68.19 percent. The mainland investment craze, however, has somehow cooled down in June as the monthly MOEA-approved investment value dropped 38 percent to stand at only US$632,079 despite a mild growth in the number of approved projects. In June, 193 companies got the MOEA’s approval for their mainland investment projects, up 16 percent from one year earlier.