MOEA secures investment from 19 foreign firms

POWER TO TRANSFORM::The investment drive targeted firms providing cloud-computing, digital streaming and logistics services, the ministry said

By Helen Ku  /  Staff reporter

Tue, Oct 01, 2013 - Page 13

The Ministry of Economic Affairs (MOEA) yesterday said it had invited 52 foreign enterprises to invest NT$138.8 billion (US$4.69 billion) in Taiwan, which would create 15,986 jobs over the next three years.

Of the 52 firms, 19 also signed letters of intent (LOI) with Minister of Economic Affairs Chang Chia-juch (張家祝) yesterday, pledging to invest NT$92 billion in Taiwan, with 9,985 jobs created by 2016.

“The government will continue to offer its assistance to foreign enterprises investing in Taiwan in terms of land, work permits, tax issues and other investment barriers,” Chang said at the Taiwan Business Alliance Conference held in Taipei.

Chang said the government had targeted enterprises providing cloud-computing, digital streaming and logistics services in its latest investment drive, as Taiwan is transforming its economy from a manufacturing hub to a service-oriented one.

Most of the foreign investors are from Japan, the US and Europe, according to the ministry.

French retail giant Carrefour plans to invest NT$10 billion to open supermarket outlets over the next three years, while Singapore tourism attraction operator Andover Leisure Pte Ltd plans to invest US$250 million to build an oceanarium in New Taipei City (新北市) by 2015.

Japanese e-commerce giant Rakuten Inc pledged to invest more than NT$100 million over the next three years, aiming to take advantages of the cross-strait service trade agreement under the Economic Cooperation Framework Agreement (ECFA), Rakuten Taiwan chief executive officer Ejiri Yuichi told reporters on the sidelines of the summit.

Rakuten also hopes to tap into China’s e-commerce market through its investment in Taiwan, Yuichi added.

Russian bicycle and scooter maker Velomotors will invest NT$300 million to establish logistics and procurement centers, as well as plants to manufacture large scooter engines.

Solar energy firm Solarmer Inc will invest NT$1.5 billion of its funds to take advantage of the country’s complete LED supply chain, according to the ministry.

Other companies making investments include US pharmaceutical product developer AbbVie, French bank BNP Paribas, Japanese automatic packaging machines maker O-M Ltd, Hong Kong logistics service provider Kerry TJ Logistics Co and Swedish drug product seller SHL Group.