Private investment hits 52 percent of government target

Staff writer, with CNA

Thu, Jul 18, 2013 - Page 14

The Ministry of Economic Affairs said on Tuesday that, in the first half of the year, the nation achieved 52 percent of the government’s annual target for private investment this year.

The ministry said new investments pledged by the private sector during the first six months of the year reached NT$623.2 billion (US$20.84 billion), 52 percent of the government’s target to attract a total of NT$1.2 trillion of private investment by the end of the year.

During the six-month period, the electronics and information technology sectors attracted NT$288.4 billion in private investment, 59 percent of the target set by the government, the ministry said.

The ministry said private investment pledged in the chemicals sector over the past six months totaled NT$137.6 billion, 49 percent of the government’s target.

The metals and electrical sectors attracted NT$146.1 billion in private investment, 48 percent of the government’s target, while the technology services sector solicited NT$28.2 billion, 46 percent of the target.

The wholesale and retail, utilities and trade fair sectors lagged behind in soliciting private investment during the period, achieving only 32 percent, 27 percent and 22 percent respectively of the annual targets set by the government, the ministry said.

Out of the NT$623.2 billion in pledged investments, only US$4.93 billion came from overseas investors during the first half of the year, about 47 percent of the government’s annual target.

In addition, Taiwanese investors operating overseas have promised to repatriate NT$210.3 billion in investments in 54 projects, the ministry said.