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Private investment to reach NT$1.08 trillion: report

The nation's new private investment is expected to reach NT$1.08 trillion (US$33.56 billion) this year, up 7.3 percent from last year's target of NT$1.01 trillion, the Ministry of Economic Affairs said in its latest report.

New private investment last year met its target of NT$1.01 trillion, with a total of 1,466 new investment plans made in the private sector, the report said.

Fulfilled private investment plans amounted to NT$1.02 trillion last year, exceeding the initial target of NT$900 billion, ministry statistics showed.

Data provided by the ministry's Investment Commission showed that a total of 2,266 foreign direct investment (FDI) applications were approved last year, up 22.75 percent from the previous year.

The value of FDI approved jumped 9.96 percent year-on-year to US$15.36 billion last year, showing that the nation's investment environment was being perceived favorably by foreign investors, the commission said.

The Industrial Development Bureau said in the ministry's report that it intended to develop Taiwan into the world's largest components manufacturing and supply base in terms of scale.

The nation's production volume of machinery parts and components is expected to jump to NT$276.1 billion in 2011 from NT$150 billion last year.

The export value is expected to climb to NT$120 billion in 2011 from last year's NT$41 billion.

The number of people employed in the related industries, meanwhile, was expected to increase to 47,500 in 2011 from a workforce of 25,000 last year, the report said.
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