Tue, Nov 21, 2006 - Page 11 News List

Taiwan-bound FDI up 290 percent this year

STAFF WRITER , WITH CNA

Foreign direct investment (FDI) in Taiwan during the first 10 months of this year amounted to US$11.23 billion, marking a phenomenal increase of 290.97 percent year-on-year, the Ministry of Economic Affairs announced yesterday.

According to the ministry, during the period from January to last month, the ministry's Investment Commission gave the green light to 1,410 investment projects presented by overseas Chinese as well as foreign entrepreneurs, representing an increase of 55.29 percent over the year-earlier level.

The growth shows that government efforts to improve Taiwan's investment climate and attract more foreign investors have paid off, an ministry official said.

As for outbound investment by domestic manufacturers, the official said the Investment Commission had approved a total of 397 investment projects for a combined value of US$2.86 billion, down 41.82 percent year-on-year.

In terms of China-bound investment, 879 investment projects at a combined value of US$5.89 billion were approved, representing an increase of 24.79 percent year-on-year, the official went on.

During the first 10 months of this year, the government gave the green light to applications filed by locally listed companies to issue securities overseas for a total value of US$3.80 billion, while the net inbound remittance of foreign capital for investment in the local bourse amounted to US$14.64 billion -- both figures indicating that domestic companies had abundant foreign capital available for use.

Last month alone, 172 inbound investment projects -- representing a total value of US$1.89 billion -- were approved by the Investment Commission, the official said, adding that the major investment project was presented by Standard Chartered Bank to invest US$1.23 billion in Hsinchu International Bank (新竹國際商銀).

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