MOEA approves four foreign inbound investment projects


CNA

TAIPEI, Taiwan — The Ministry of Economic Affairs (MOEA) has approved four inbound investment projects by overseas Chinese and foreigners worth a total of US$333.1 million, an MOEA official said yesterday.

In the year to date, cumulative investments by overseas Chinese and foreigners has reached US$13.26 billion, and the amount through the entire year is very likely to hit a new high, the official said.

Total investments by overseas Chinese and foreigners in 2006 was US$13.96 billion, the official said.

Among the four inbound projects, Holland’s Cooperative Meadowstream Investment W.A. will invest US$143.27 million in Chung Hsi Co., and Cooperative Silverdale United Enterprise W.A. will invest in Hsiung Ho Co. The investments in the two companies will be used to buy private equity in Ta Chong Bank, the official said.

Additionally, Citibank Taiwan’s U.S. parent will increase its stake in its Taiwan branch by US$61.73 million, the official added.

The MOEA’s Investment Commission also approved another 15 China-bound investment projects, one to invest in Hong Kong and Macau, and another involving investment elsewhere, the official went on.