Mon, Jan 17, 2005 - Page 10 News List

Official touts nation's economy in US

CNA , Los Angeles

Minister of Economic Affairs Ho Mei-yueh (何美玥) encouraged the nation's manufacturers operating in foreign countries Saturday to use Taiwan as their business hubs in exploring Asian markets.

Ho made the appeal in Los Angeles while delivering a speech at a board meeting of the Taiwanese Chamber of Commerce of North America attended by more than 140 board members and representatives from overseas Taiwanese manufacturers associations.

Expounding during the three-day meeting on Taiwan's economic developments, Ho said that the country's economic growth rate -- measured by the increase in its gross domestic product (GDP) -- hit 5.93 percent last year, with imports and exports posting remarkable growth.

For the whole of last year, the nation's exports increased 20.7 percent to US$174 billion from a year earlier, while imports grew even faster by 31.9 percent to US$167.9 billion, the Ministry of Finance reported earlier this month.

All sectors in Taiwan, such as computers and information technology, are expected to enjoy impressive growth this year, Ho noted, adding that Asia's economy is forecast to grow rapidly in the next 10 years.

Claiming Taiwan is especially suitable for overseas Taiwanese businesspeople as an investment destination, Ho voiced the hope that they will set up production facilities in Taiwan and use it as a springboard into Asian markets.

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