Sun, May 22, 2011 - Page 11 News List

CEPD signs investment accord with US realtor

ONE-STOP SHOP:The council plans to set up food courts in US cities that will boast Taiwanese-themed restaurants offering items such as stinky tofu, dumplings and milk tea

Staff Writer, with CNA

The Council for Economic Planning and Development (CEPD) has signed a memorandum of understanding (MOU) with US-based real-estate service provider CB Richard Ellis Inc (CBRE) for future investments in Taiwan, the country’s top economic planner said on Friday.

CEPD Minister Christina Liu (劉憶如), who is leading a delegation to the US to meet potential foreign investors, said CBRE was planning to enter Taiwan’s commercial real-estate sector with projects worth more than US$100 million.

The agency also signed an agreement with CBRE’s subsidiary CB Investors for future investments.

CBRE sees great potential for growth in the Greater China area and is aiming to tap into the rapidly growing business opportunities in Taiwan, Liu said.

CBRE, which is also experienced in mutual fund management, is expected to offer training for government officials on how to manage labor pensions, labor insurance, civil service retirement and postal funds to boost the return on such funds, she said.

Meanwhile, CBRE is planning to set up a specialty store in Los Angeles that will feature delicacies from Taiwan and promote -Taiwanese culture in the US city.

The specialty food court, scheduled to get off the ground later this year, is expected to accommodate 20 to 30 Taiwanese restaurants, such as the Din Tai Fung (鼎泰豐) dumpling house and the Shin Yeh (欣葉) Taiwanese cuisine restaurant.

Other specialties in the store are likely to include pork gravy rice, stinky tofu and bubble milk tea, which are popular among foreign visitors to Taiwan.

Liu said if the food court project works out well, CBRE will use that model to open similar stores in other US cities such as New York, Chicago and San Francisco. In addition to the two MOUs, the CEPD signed another with Orbcomm Inc, a communications service provider, in New York earlier this week.

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