A government-led investment roadshow to Japan is setting off on Sunday, with at least five Japanese companies already expressing an interest in investing in Taiwan, the Council for Economic Planning and Development (CEPD) said yesterday.
The roadshow from Sunday to Friday next week will include two investors’ conferences in Tokyo and Osaka and about 30 company visits, the council said.
“Other than seeking investment, the major goal of the roadshow is building a closer trade connection with Japan, as recent uncertainties in the US and eurozone economies reminded us of the importance of enhancing the intra-regional trade in Asia,” Council for Economic Planning and Development Minister Christina Liu (劉憶如) told a media briefing.
Compared with previous roadshows led by the council, the Japan event has drawn the highest number of participants, with a total of 226 industry representatives and government officials joining the trip, an indication that there are more local firms hoping to cooperate with Japan, Liu said.
Daiwa-Cathay Capital Markets Co Ltd (大和國泰) vice chairman Daniel Chang (張志良) said about five to six Japanese firms — mostly in the manufacturing and the biotechnology sectors — had demonstrated their intention to invest in Taiwan and planned to sign memorandums of understanding (MOU) during the roadshow.
“These firms include large and well-known ones,” Chang said, but declined to reveal their names.
Chang said an increased number of Japanese precision machinery makers had expressed an interest in investing in Taiwan following the devastating earthquake in March, as they realized the importance of diversifying risks by establishing a second base of operations.
Precision machinery is one of the six sectors targeted by the roadshow; the other five are digital content for the cultural and creative industries, biotechnology and medical equipment, green energy and land development, the council said in a report.
The yen’s recent surge has also led more Japanese firms to consider overseas production, Chang said.
Other than directly investing in Taiwan, Chang said some of these Japanese companies were interested in exporting technology and setting up research and development divisions in Taiwan.
“We hope this roadshow can open a door for more Japanese small and medium-sized enterprises” to seek cooperation with Taiwanese companies, he said.