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Private investment expected to grow by 2.62%: ministry

Private investment across Taiwanese industries is expected to hit NT$1.03 trillion (US$32 billion) next year, or growth of 2.62 percent from this year, the Ministry of Economic Affairs said yesterday.

In a statement issued on the ministry’s Web site, the government said the electronics and information industries would invest the most — NT$394 billion.

Thanks to fifth-stage expansion work at the Sixth Naphtha Cracker plant operated by Formosa Petrochemical Corp (台塑石化) and the planned Kuokuang Petrochemical Technology Project (國光石化科技計劃) initiated by CPC Corp, Taiwan (台灣中油), investment from the chemicals industry would double to NT$320 billion next year from this year’s NT$167 billion, the ministry said.

The Kuokuang project aims to build a large-scale refinery and cracker complex on reclaimed land in Changhua County. But the project is yet to pass an environmental impact assessment.

The green energy sector is forecast to increase investment by 31 percent to NT$53.5 billion, while biotechnology companies are expected to increase investment by 20 percent to NT$30 billion.

Investment from the cultural and creative industry will increase 6 percent next year to NT$21.35 billion, the ministry said.

As investment in the services industry has been stable but smaller in monetary terms, the ministry said it would continue to encourage more investment from retailers, wholesalers, logistics companies and exhibitors.

As for private investment, the amount this year would probably reach 80 percent of the government’s target of NT$1 trillion, the ministry said.
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