Park project in El Salvador suspended

Minister of Economic Affairs Steve Chen (陳瑞隆) said yesterday that although the government's plan to build a "Taiwan Park" in El Salvador had been suspended, the ministry would continue to encourage Taiwanese manufacturers to invest in the country.

"The Ministry of Economic Affairs will continue to encourage Taiwanese entrepreneurs to invest in El Salvador by making the best of a just-inked Taiwan-El Salvador-Honduras Free Trade Agreement [FTA]," Chen said.

Chen signed the trilateral agreement on behalf of the government with his Salvadoran and Honduran counterparts on May 8 in the Salvadoran capital of San Salvador.

Salvadoran President Antonio Saca, who was also present at the FTA signing ceremony, announced at a press conference that the Taiwan-El Salvador park building project had been suspended.

Vice Minister of Foreign Affairs Hou Ching-shan (侯清山) said the government originally planned to arrange for companies in Taiwan's textile sector to set up factories in the park.

After conducting evaluations on its future industrial development, the Salvadoran government decided to give top priority to developing high-tech industries in the planned park, but because few Taiwanese high-tech businesses were willing to invest in the country, the government could not but respect its Salvadoran counterpart's decision to suspend the plan, Hou said.