The Ministry of Economic Affairs secured NT$108.19 billion (US$3.4 billion) of new investment in the first two months of the year, reaching 12.48 percent of the goal the ministry has set for this year, according to a statement released yesterday.
Corning Inc, the world's biggest glass-substrate maker, was the biggest contributor, pumping NT$41.19 billion into Taiwan with two projects during the January-February period, the statement said.
Though mired in a storm of controversy over alleged illegal investment in China, United Microelectronics Corp (
For the whole year, the ministry hopes to attract a total of NT$867 billion of investment, slightly higher than the figure last year, said Lee Tai-an (李台安), an official with the Industrial Investment Bureau under the economic affairs ministry.
"Both the global and local economies are slower this year, but we are optimistic that we can reach the goal," Lee said.
Last year, Taiwan attracted NT$788 billion of investment, according to ministry statistics.
While investment for the first two months may seem to reflect only limited progress toward the government's full-year target, Lee said more funds will be committed after the first quarter as companies usually lay out their investment projects in board meetings at that time.
The main sectors the government still aims to draw investment from are the high-tech, telecommunications, biotech, medical and automobile industries, Lee said.
Taking the auto industry as an example, Taiwan exported NT$127.4 billion of auto parts last year, marking 18.18 percent growth from the previous year, and it is expected to hit NT$150 billion this year, making it a promising industry, Lee said.
In response to the Kyoto Protocol, which aims to reduce greenhouse emissions, the government will also help related companies to develop light-emitting diode (LED) displays and efficient air conditioners and freezers, which will create an estimated NT$10 billion of investment within the next five years, he added.
The Kyoto Protocol, an environmental treaty, took effect in February. While Taiwan is not a signatory to the protocol, the government hopes to cut the nation's greenhouse gas emissions to the level they were at in 2000 by 2020.
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