Taiwan's economy is ranked 21st in the world in terms of GDP and is the 16th-largest in terms of purchasing power parity (PPP), the Financial Supervisory Commission (FSC) said in a statement yesterday, citing chairman Hu Sheng-cheng (
The statement did not specify the GDP and PPP figures, however.
In a speech on the nation's economic development and its financial market on Thursday in New York, Hu said that up to 34 percent of the total market value of the nation's listed companies is owned by foreign investors, underlining an active foreign shareholding in Taiwan, the statement said.
Hu said the financial regulator would continue welcoming and encouraging foreign investment in Taiwan, emphasizing that foreign investors could also use local market presence to reach out to other economies in Asia.
"As of the end of 2006, Taiwan was the largest foreign investor in Vietnam, the third-largest foreign investor in Malaysia, Thailand and Cambodia, and the sixth-biggest in the Philippines and Indonesia," the statement quoted Hu as saying in the speech.
Excluding Taiwanese investment in China by way of the British Virgin Islands, Taiwan is the third-largest foreign investor in China, after Japan and the US, Hu said.
Hu is leading a delegation scheduled to attend investment seminars in New York and London. The seminars, organized by Taiwan Stock Exchange Corp, are aimed at bringing more investment to the nation's financial markets.
The delegation will introduce Taiwan's investment environment and financial market development to US and European investors and mutual fund managers.
Other delegation members include FSC councilor Gary Tseng (曾國烈), FSC Securities and Futures Bureau director-general Wu Tang-chieh (吳當傑) and deputy director-general Lee Chi-hsien (李季憲).
Officials from the Taiwan Stock Exchange, Taiwan Futures Exchange and GRETAI Securities Market will also deliver briefings on Taiwan's securities and banking regulations at the seminars, the commission said.
Meanwhile, representatives from the nation's 14 listed and over-the-counter enterprises in the high-tech, financial services, telecommunications and traditional industries are expected to hold their own investment roadshows during this trip, it said.
Among these private companies are Taiwan Semiconductor Manufacturing Co (台積電), Asustek Computer Inc (華碩電腦), MediaTek Inc (聯發科), High Tech Computer Corp (宏達電), Fubon Financial Holding Co (富邦金控), Shin Kong Financial Holding Co (富邦金控), Far EasTone Telecommunications Co (遠傳電信) and Taiwan Mobile Co (台灣大哥大).
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
RSS