Thu, May 17, 2012 - Page 12 News List

Ministry focusing on attracting SMEs from abroad in the services industry

By George Liao  /  Staff reporter

The Ministry of Economic Affairs has adjusted its strategy this year to focus more on attracting foreign enterprises in the services industry.

“The ministry used to focus on attracting foreign companies in the manufacturing industry, but this year we will turn our focus to companies in the services industry, especially those in wholesale and retail, logistics, dining, travel and professional technology services,” Chiu Yi-cheh (邱一徹), director--general of the ministry’s -investment services department, said at a press conference on Tuesday.

Chiu said the ministry would also shift its target from attracting multinational corporations to small and medium-sized enterprises (SMEs), adding that SMEs are more flexible and eager to develop their global positioning.

The ministry has come up with several measures to put the new strategy into practice, including plans to approach more than 20 potential foreign service industry companies through the ministry’s overseas units.

The ministry plans to hold a global forum in October focused on attracting foreign services industry firms, the department said in a statement. It also plans to organize business delegations to visit potential services firms in Japan, Europe and the US in the second half of this year, the statement said.

The ministry has set a target of attracting US$10 billion in foreign investment this year, up 11 percent from US$9 billion last year.

In the first three months of the year, the nation had secured 93 foreign investment projects with total investment at US$2.42 billion, the department said.

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