Investment from Taiwanese expats tops NT$120 billion

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Investment from returning Taiwanese entrepreneurs has reached NT$120 billion since the beginning of the year, according to President Tsai Ing-wen. (NOWnews)

TAIPEI (CNA) — Investment from returning Taiwanese entrepreneurs has reached NT$120 billion (US$3.89 billion) since the beginning of the year and more is expected to follow, President Tsai Ing-wen (蔡英文) said on April 14.

The government has been inviting Taiwanese expatriates to return home and invest, Tsai said in a Facebook post, adding that 30 companies have already responded to the government’s call and invested in Taiwan this year.

She stressed that the government’s aim to create a better economy is not a mere slogan.

“Total investment has reached NT$120 billion and 10,500 jobs will be created,” Tsai said as she announced that 50 more companies have expressed their intention to invest in Taiwan.

She described this as a show of confidence among overseas Taiwanese in the country’s investment climate in the face of the changing global economic environment.

“Now is the right time to invest in Taiwan,” Tsai said, referring to an International Monetary Fund (IMF) forecast for Taiwan’s economic growth this year as proof.

The IMF, in a report released last week, predicted 2.5 percent economic growth for Taiwan in 2019, an upgrade from a 2.4 percent forecast made last October.

Tsai, who intends to run for re-election in next year’s presidential election, stressed that it is important to improve Taiwan’s economic health by developing innovative industries and attracting more foreign investment.

By Yeh Su-ping and Emerson Lim