Fri, Jul 04, 2003 - Page 11 News List

MOF head leads investment trip

CNA , TAIPEI

Minister of Finance Lin Chuan (林全) is scheduled to lead a mission to the US next month to woo US investors to make more investments in this country.

Lin, as well as Ministry of Finance officials and leaders from Taiwan's financial, high-technology and traditional manufacturing sectors, are scheduled to host the "2003 Taiwan Investment Forum" in New York on Aug. 26 and and Boston on Aug. 28.

At a meeting with representatives from the private sector to give a briefing on the forum, Lin gave details on how the ministry will cooperate with Taiwanese business and industry to solicit US investment at a time when China is attracting capital from around the world while Taiwan is losing ground.

Declining foreign investment will adversely affect the country's overall economic development in the long run, Lin said, pointing out that the amount of foreign and overseas Chinese investment last year showed an alarming decline of 32 percent over that of the previous year.

Lin said the ministry will only play the role of assistant in the forums, with private sector business and industry playing the key role. He said the ministry requires the experience and international prestige of the private companies to promote business and attract foreign investment.

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