Fri, Mar 25, 2011 - Page 11 News List

New investments set to create more than 19,000 jobs

Staff Writer, with CNA

The InvesTaiwan Service Center has handled NT$74.5 billion (US$2.51 billion) in potential investment projects since August last year, which if approved, could create more than 19,000 jobs, the Ministry of Economic Affairs said yesterday.

Since the center was founded six months ago, domestic and international businesses have submitted 53 project proposals, according to a report delivered by the ministry to the weekly Cabinet meeting.

So far, the ministry’s Investment Commission, which is responsible for screening foreign investment in Taiwan, has approved NT$869.1 million in investment from InvesTaiwan clients.

Of the 53 projects, 21 can be classified as new investments, while 30 are re-investments and two are already in operation, the report said.

Based on the source of investment, 18 of the projects were initiated by firms from Japan, 11 by Taiwanese firms, 10 by US firms and five by Chinese firms.

On the issue of whether the recent earthquake and tsunami in Japan would have any impact on the government’s investment promotion effort, InvesTaiwan chief executive Jeff Yen (嚴重光) said most Japanese companies in Taiwan have maintained normal operations, even when the parent companies have been affected by the disasters.

Some affected Japanese companies have indicated their intention to move production to Taiwan, Yen said.

Meanwhile, Premier Wu Den-yih (吳敦義) asked the center to step up its collaboration with other government agencies and local governments to help businesses overcome investment barriers.

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