Taiwan approved US$3.16 billion of inward foreign investment in the period from January through last month, up 2.44 percent from the same period last year, data released by the Ministry of Economic Affairs’ Investment Commission yesterday showed.
The inward foreign investment includes funds from Chinese and Hong Kong investors.
The commission’s data showed that approved inward investment from China was US$320.24 million in the first eight months of the year, up 136.27 percent from a year earlier.
The commission said in a statement that the increase in inward Chinese investment came after an application by Hong Kong Metal Packaging Products Co (香港金屬包裝制品) to invest US$59.4 million to acquire shares of Taiwan-based Dingxin Metal Packaging Co (鼎新金屬) was approved, as well as the approval of Xiamen Huatian Gangotai Commodity Shopping Co Ltd’s (華天港澳台商品購物) US$43.67 million investment in a hotel in Kinmen in the first quarter.
That was followed by China Construction Bank’s (中國建設銀行) US$46.85 million injection to open a branch in Taiwan in the second quarter and the approval last month of Chinese LED epitaxy maker Sanan Optoelectronics Co’s (三安光電) US$78.32 million investment in domestic LED chip supplier Formosa Epitaxy Inc (璨圓光電), the commission said.
As of last month, accumulated inward Chinese investment totaled US$823.88 million since June 2009, when the government officially moved to allow Chinese companies and investors to submit investment proposals, according to the commission’s data.
Meanwhile, approved Taiwanese overseas investment declined 55.11 percent to US$2.03 billion in the first eight months from the corresponding period last year, while China-bound investment contracted by 21.37 percent annually to US$5.65 billion over the same period, the commission said.
In a separate statement yesterday, the commission said it has approved British banking group Barclays PLC to inject NT$275 million into Barclays Capital Securities Taiwan Ltd for businesses related to equity brokerage.
It has also agreed to Cayman Islands-registered Fareast Fortune Investment Ltd’s proposal to invest NT$938.6 billion in Center Laboratories Inc (晟德) to manufacture, develop and sell drugs in Taiwan.