Sat, Feb 21, 2009 - Page 12 News List

MOEA hopes to reverse investment drop

By Elizabeth Tchii  /  STAFF REPORTER

The Ministry of Economic Affairs (MOEA) hopes to attract US$8.5 billion in foreign investment this year with a series of local and overseas promotional activities as well as hosting the 2009 Invest In Taiwan Business Alliance Forum, officials said yesterday.

Ministry data showed Taiwan attracted US$8.23 billion in foreign capital last year. To continue this trend, the ministry said it would aggressively target specific foreign businesses, as well as develop ties with countries that could benefit from Taiwan’s core enterprise strengths in broadband wireless technology, consumer electronics, green technology and health care for seniors.

In separate news, the ministry announced yesterday that foreign investment, overseas investment (excluding China) and China-bound investment all plunged last month compared to January last year.

Approved foreign investment applications in Taiwan totaled 72 cases and US$145 billion last month, a drop of 61 percent and 73 percent respectively from last year.

Only 17 applications were received for non-China overseas investment last month, while total investment declined 82 percent from last year to US$89.91 million, the ministry said.

Only 23 cases of China-bound investment, worth a total of US$282.87 million, were approved last month, a drop of 68 percent and 56 percent respectively.

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