Investment deals by Japanese investors in Taiwan rose by more than 60 percent for the first four months of this year compared with a year earlier, indicating rising business exchanges between Taipei and Tokyo, the Ministry of Economic Affairs’ Investment Commission said on Saturday.
In the four-month period, the number of Japanese investment projects in Taiwan totaled 242, up 63.51 percent year-on-year, while the number of Taiwanese investment deals in Japan during the same period rose 44.44 percent from a year ago to 13, the commission’s statistics showed.
The commission said the increase in Taiwan’s investment deals in Japan was also evidence of warming business ties.
Meanwhile, the ministry said that after the Taiwan-Japan Industrial Collaboration Promotion Office (TJPO) was set up in March last year, the number of industrial cooperation deals between the two sides hit 67 as of the end of last month.
Across the 67 projects, Japanese and Taiwanese investors have committed to pouring a total of NT$7.44 billion (US$248 million) into Taiwan, the ministry said.
It said among the 67 deals, Taiwan’s Syscom Group, a system integration and e-commerce solution provider, signed an agreement with Japan’s Tokai Group in February to set up a joint venture in Taiwan to work on cloud technology.
Syscom and Tokai have invested NT$130 million in total for the establishment of the joint venture, which targets a booming cloud-based market in the Greater China market, the ministry added.
In addition, Daiwa Securities Group of Japan and the Executive Yuan’s National Development Fund have plans to invest US$100 million in the biotech business, the ministry said, adding that the deal is expected to help facilitate development of Taiwan’s pharmaceutical industry.
The ministry said Taiwan aims to strengthen industrial cooperation with Japan in a bid to penetrate third-market places, while Taipei also eyes a closer relationship with authorities in Tokyo, which could pave the way for the signing of a bilateral free-trade agreement.
Translated by Paul Cooper